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Internal and external factors affecting business
External factors affecting businesses
Understanding the role of manager
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Explain why managers are important to organizations. Managers are important to organizations for their managerial skills and abilities. Managers are needed to identify critical issues and quick responses. Another reason for their importance is their ability to get things done. They overlook other employees to ensure everyone is doing their job. Managers do matter for organizations. Managers matter with the way they interact with direct supervisors, also the way the organization is run has a major effect by the managers that are involved. Managers can affect the loyalty of the employees, along with performance levels. They have a major influence of success or failure in an organization.
Tell who managers are and where they work. Managers
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University of management, the reality of work, and the rewards and challenges are why we study management to understand what it entails. University of management is when managers are needed in all types of organizations and companies. All of these areas, managers must plan, organize, lead and control. Managers are needed in every type of work since they are managing the employees. The reality of work is explaining that either we will work for a manager or be the managers. Everywhere we go management is involved in the work place. There are rewards of being a manager. Their rewards involved creating a work environment so employees can work with the best efficiency. Management helps find meaning for the employees to do their jobs. There are challenges to any job, for management this job may be thankless. Along with spending hours in meetings or having constant interruptions. Mangers also have to deal with limited resources such as money, time, and other things determined by the company they work …show more content…
Some of these external factors are economic, demographic, and environmental. The economic environment includes interest rates, income, stock markets. Recessions really affect this external factor changing the way people spend and what companies need to do to stay running. Demographics have to do with the trends in the population. These trends could be studying the characteristics of the ages such as the baby boomers, the post-millennials, and gen-y. These populations have a major influence with how to manage companies to stay up to date with their company goals. There are political challenges that could change laws and the way certain thing need to be run. It is important for managers to stay on top of the new regulations that are coming in and could change the way that they work. There is a sociocultural component that has to do with values, beliefs, and traditions. Seeing the differences in what the customers believe can change the way managers manage their people. There is also technology which has affected every company. Staying up to date with the latest technologies can help stay in contact with all employees. Finally there is a global component which has to do with the world
Management is the basis of how any given organization operates and how each activity preformed is organized that makes each day possible and profitable for the overall good of the company. Power and responsibility levels are ranked amongst each individuals own skill set, education, and experience level in an organization. Management has many levels depending on each individual company and its size. This can consist of several people answering to one main head of operations, or thousands upon thousands answering to several different tiers of management (Bauer & Erdogan, 2012).
Managers are responsible for setting goal and objectives for their staff .And the setting objectives managers must work with team .Managers ensure that the team objectives are met when the objective individual and specific to team .They can easily focus their target, improving and increasing customer satisfaction.
Organizations do not change, people do (Sullivan and Decker, 2009). A manager’s responsibility is to manage people. Change is difficult for most people and managing through the change process is not an easy task. Many theories on managing change exist, but they basically have four elements: assessment, planning, implementation, and evaluation (Sullivan & Decker, 2009). A manager’s role is to examine each of these elements and apply them to the people that he or she leads.
A manager plays a pivotal role in steering the success and failure of the organization. As a budding manager, I wanted to get an insight about the daily activities of a manager and learn about their ‘typical day’. Therefore, an interview was scheduled, where the manager shared her views and gave invaluable advice on becoming an effective manager. This helped me in integrating the management concepts taught in the class and its implications in the real world.
It is necessary for these managers to assure that their employees know what is expected of them. They also need to effectively communicate the company goals and strategies in addition to frequently giving feedback to their employees. Managers also need to have the confidence in their employees to allow them autonomy in their work roles.
Leadership can be important to the management which it can help to a max efficiency and to achieve goals. The following points justify to the importance of leadership.
Management is a very tough job in today’s world of ambiguity, uncertainty, stiff competition and threatening environment. You have to be mentally and physically very strong to cope up the challenges posed by the current business environment. Following are the most important management skills and qualities needed for a successful manager.
...ity of purpose and direction for an organization. We create and maintain the internal environment in which people can become fully involved in achieving the organization's objectives. Managers are responsible for changing behaviors. Which is probably the most critical area in the organizational life cycle. Finally, managers empower and involve people to achieve the organization's objective. (Lester, Parnell, & Carraher, 2003)
Management is not just about making decisions, watching over employees, and bossing others around. Good management results in satisfied customers, who provide better customer service. In order for new managers to be successful, they need to have good communication, human skills, and the ability to motivate others. The ability to do these skills effectively makes a big difference to a manager and the company’s overall success. Companies depend on managers to fulfill their skills and knowledge to help their company excel.
Consequently, the most important object to learn is that external factors, coupled with the internal environment factors have a decisive impact on the functioning of the organization. All factors are closely twisted and affect each other. The manager should be able to analyze all these factors together and without losing any of the mind and make the right
First and foremost, effective managers are of course, required to have the basic management skills in order to be able to manage an organisation. Any managers has to possess certain technical skills which allow them to perform specialised task, particularly those first-line managers as they spend more time helping employees to solve work-related problems and they are mostly involved in supervising individual performance and instructing subordinates, for instance, ensuring that the products and services are being delivered to customers on a daily basis. (Robbins and Coulter, 2005) In other words, managers are required to possess "the ability to utilise tools, techniques, and procedures that are specific to a particular field." (Lewis, Goodman, and Fandt, 2004:12) In fact, managers are the first to look up for whenever employees encounter problems. (Griffin & Ebert, 2004)
The study of management is a learning of a set of attitudes and beliefs about people, work, action and organization. It might not be the whole of management, but it is the foundation of management.
Different organizations typically face change due to many forces surrounding their mission. These forces can be from either internal or external sources. The External forces usually occur outside of the organization and it could have a global effect. According to Kreitner-Kinichi (2003) the four external forces for change are demographic characteristics, technological advancements, market changes, and social and political pressures. The internal forces for change come from inside the organization like human problems, managerial behaviors and decisions.
function, managers need to analyse how activities and resources are to be grouped and carry out plans successfully (Bartol 2007). A manager have to understand their ability to manage the lower level employee which is the most valuable of the company as they are the key of output and implement in the planning. Then manager will coordinate the jobs between authority and responsibility that is to define the role position of them (MSG 2012).
Management is vital for any organisations regardless of the size and the types of the organisations. In general, management is defined as “the application of planning, organizing, staffing, directing, and controlling functions in the most efficient manner possible to accomplish meaningful organizational objectives.” (John M. Ivancevish and Thomas N. Duening, 2007)