Download file to see previous pages...
Also known as
Project Management structure, it fosters the use of teams created from various departments, to achieve goals or create products. This type of structure can be beneficial to Spectrum, as it combines aspects of both a functional organization and project team structure. It effectively coordinates resources for various projects and allows personnel to retain membership on both the team and their functional departments.
However, the matrix structure has some inherent communications challenges. One such challenge is line of authority and resource allocation ambiguity as personnel report to both their functional manager and the team/project manager. Confusion as to which manager’s authority takes priority regarding tasking can be addressed through the use of pre-established lines of authority, project plans, resource allocation plans, and timelines, as coordinated between the functional and team management. Ambiguity surrounding resource allocation can lead to personnel disputes on the number of resources allocated to respective projects. Clearly defining the level of capital, resources, and lines of authority at the beginning of each project, offers a viable solution for this dilemma. A second communication challenge is the need for a common terminology. New terminology or
hinder productivity of the newly formed team. Management can address this by scheduling on-the-job or external training, as part of the project timeline. A third challenge is the lack of peer interaction from functional teams, due to logistics, if geographically dispersed. To combat this, management should ensure that periodic virtual or in-person team meetings are conducted, allowing personnel to stay abreast of developments in their functional area of expertise and promotional opportunities.
Multidivisional structure was also developed as a response to the emergence of large companies and multi-national
...Download file to see next pagesRead More
Milton argued in this article that the sole purpose and core obligation of a business is to act in the shareholders best interest- i.e. to create shareholder value or in more blatant terms, to generate profit for them (Friedman, 1970). However, Wearden (2010) adds that there are many who argue against this, the proponents of Corporate Social Responsibility or Sustainable Business, those who advocate the integration of social and environment concerns in their business operations.
For instance, the suppliers, employees, and products and services of a business organization are influenced by it. In addition, government policies, employees, suppliers, and competitors exert substantial influence on a business organization. As such, the effect of the environment on a business is inversely proportional to its size (Dyer & Ross, 2008, p.
1). This paper briefly summarizes the enormous business potential in the USA as witnessed at one of the major business events known as “Denver Gift, Home, Jewelry & Resort Show” held in Denver, Colorado from February 26, 2011 to March 1, 2011. To encourage the manufacturing and sale of Native American products, Denver Gift, Home, Jewelry & Resort Show hosted 450 exhibitors selling nearly 4000 types of products including jewelry, furniture, gifts, cosmetics, stationery, handicrafts, garden accessories, interior decoration, etc.
Mihaly Csikszentmihalyi (2003) Introduction: The unethical employment practices of Nike as well as the retail giant Wal-Mart; the trading of ‘blood diamonds’ by De-Beers; or the Enron Scandal are all examples of companies and events wherein the businesses acted unethically.
The main objective of a security plan in e-business is to “protect the privacy of the people with whom you do business and safeguard your IT and other information assets.” (Rapalus, 2001)
Information is a significant business asset for any
The two partners have to adopt a partnership form of business so that they may share the management roles and all the risks that can be encountered. This is a good form of business, as the profits that will be attained
KFC also customises its products and services to meet regional demands. The company is not all about the products but also the services that it offers to the customers. Both products and services are vital for the company. The company targets a wide range of
Shareholder owned business organizations are principally accountable to their external investors, in which they are expected to take responsibility in maximizing financial returns. Contrary to this accountability
Among the other factors important in the essay will include the processes of making a business strategy, and implementing it within the environment of the business. The competitive strategy model provided by porter will have importance
10 Pages(2500 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Essay on topic BUSINESS for FREE!