Business Management

Yanıt Açıklaması: The managers will consider both control of the overall organization and control of departments, teams, and individuals. Therefore, some control strategies apply to the top levels of an organization or major divisions or teams and individual employees. Managers using the balanced scorecard do not rely only on the short-term financial measures, the balanced scorecard helps an organization set goals and measure performance from four perspectives that are vital to all businesses. Four perspective of the balanced scorecard: financial performance, customer service, internal business processes, and the organization’s capacity for learning and growth.

Yanıt Açıklaması: The legal origins of diversity in employment was initiated in the US in the 1960s. This reflected the upheaval of the Civil Rights movement and federal legislation spearheaded by President Lyndon B. Johnson following the assassination of John F. Kennedy in 1963. e 1964 Civil Rights Act prohibited the exclusion of under-represented minorities, including African-Americans, Asians, Latinos, women, etc., from employment in U.S. government agencies.

Yanıt Açıklaması: Depending on the organizational goals, if managed and coordinated successfully a diversified work place, a group, or a work team has advantages such as: An enriched work environment, Promotion of equality, Employees feeling more valued, More effective customer relations – Avon products reach out to different market segments around the world through its multinational sales force at the local level, More efficient problem solving, More creative and innovative processes which require out of the box thinking, Reduced costs associated with high turnover and lawsuits.

Yanıt Açıklaması: “insensitivity” is not a skill that business leaders are sought to possess. All others are one of those skills.

Yanıt Açıklaması: Controlling function of management involves regulating activities and behaviors within an organization and it involves measuring performance and then taking corrective action if goals are not being achieved. Controlling is the systematic process of regulating organizational activities to make them consistent with the expectations established in plans, targets, and standards of performance. Controlling is related to implementing of plans and evaluating the results of business operations by comparing the actual results to the planned goals or standards. Measuring uncertainties is not part of the controlling process.

Yanıt Açıklaması: The management and leadership roles, which are critical dimensions of the world of business, have distinguishing characteristics: Management emerged with the Industrial Revolution. Management is based on position; leadership is about personal qualifications. Managers are appointed; a leader is a role model who earns the title and is embraced by the followers Management aims at formal goals whereas leaders generate informal goals Management is attaining goals through others; leadership is pursuing goals with others. Management is based on rules, leadership is spontaneous and inspirational. Managers focus on completing tasks efficiently; leaders focus on goals for development, improvement, and change. Management authority is based on legal authority; leadership power comes from followers. Management produces order and consistency; leadership produces change and movement.

Yanıt Açıklaması: The span of control in a company influences the height of its hierarchy. A flat organization structure has relatively fewer layers of management while a tall structure has multiple layers. Generally, the lower the height of the structure, the wider the span of control. It shows a typical consulting firm structure where partners/managers can supervise relatively large numbers of associates, i.e. wider span of control. This is because in these types of firms, both partners and associates are knowledgeable about the topics in which they specialize. We can see that companies with tall structures tend to make decisions at a slower rate because the decisions need to pass through more layers of management in the hierarchy. Today’s business environment requires that organizations speed up their decision making and therefore have been flattening their structures. Also, businesses with fewer numbers of managers can reduce the human resources expenses. Larger spans of control and flattening of structures are consistent with managers’ efforts to speed up decision making, to increase flexibility and to reduce costs.

Yanıt Açıklaması: Division of labor is the degree to which work activities are divided into separate jobs.

Yanıt Açıklaması: A cross-functional or horizontal team is composed of employees from different departments or functions. Members are brought together to deal with a specific activity or to solve mutual problems. In large companies, members can come from different business units or divisions. Cross- functional teams may be involved in a form of matrix structure. Therefore, team members report to their functional departments and to the team leader.

Yanıt Açıklaması: Although leadership and management have some common features they differ in critical aspects such as hierarchy, communication, and participation. One of the differences is about change and movement. Management is more about consistency and regulations whereas leadership seeks for change and bettering cicumstaces in order to attian goals together with followers.

Yanıt Açıklaması: Delegation occurs when a manager divides work among subordinates and gives them the responsibility and authority to accomplish tasks. A manager is responsible for all work in an area and can only complete the work by delegating part of the work to subordinates. This process continues down the chain of command. In general, the delegation process involves: ? Assign responsibility or the duty to perform certain tasks, ? Give authority to complete those tasks, and ? Create accountability for successful completion of the tasks. To be more effective at delegation, managers should keep in mind to select the right person for the job, to ensure that authority equals responsibility, to maintain feedback and to evaluate and to reward performance. In today’s dynamic business environment, managers may need to delegate more to lower level employees especially those who regularly face customers. This way, organizations can be more responsive to customer needs while becoming more flexible and adaptable to the changes in the environment.

Yanıt Açıklaması: SWOT is an acronym for Strengths, Weaknesses, Opportunities, and Threats of the company. While strengths and weaknesses are determined via internal analysis, opportunities and threats are obtained from external analysis. If a resource is not valuable, it is a weakness. If a resource is valuable, rare, difficult to imitate and to substitute, and required to be organized, it is strength. Organization is not a part of SWOT analysis.

Yanıt Açıklaması: According to the stakeholder approach, there are several benefits derived from having good stakeholder relationships. These are building strong reputations that are rewarded in the marketplace, achieving greater organizational flexibility, facilitating the formation of strategic alliances and increasing trust lowers the costs for a firm’s business transactions.