• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month
Page
  1. 1
    1
  2. 2
    2
  3. 3
    3
  4. 4
    4
  5. 5
    5
  6. 6
    6
  7. 7
    7
  8. 8
    8
  9. 9
    9
  10. 10
    10
  11. 11
    11
  12. 12
    12
  13. 13
    13
  14. 14
    14
  15. 15
    15
  16. 16
    16
  17. 17
    17
  18. 18
    18
  19. 19
    19
  20. 20
    20
  21. 21
    21
  22. 22
    22
  23. 23
    23
  24. 24
    24
  25. 25
    25
  26. 26
    26

Business and management - Effective teams.

Extracts from this document...

Introduction

ASSIGNMENT IN BUSINESS & MANAGEMENT SUBMITTED TO MR. PETER MCINNES UNIVERSITY OF STRATHCLYDE, GRADUATE SCHOOL OF BUSINESS 15.01.2004 BY FRANCIS IKERE PAAL SVARSTAD GARRY THOMSON RITU KURUVILLA SAM ADEMA KHAIRAKHMETOVA Table of Contents Introduction............................................................ 02 Group Dynamics..................................................... 03 Decision Making..................................................... 08 Management by Results........................................... 12 Successful Implementation (Project Management)......... 16 Conclusion............................................................ 22 References............................................................ 23 Appendix (Project Plan)............................................ 24 Introduction The Business and Management course is a diverse mix of areas which contribute towards effective management of an organisation. The Business and Management area is surrounded by and interconnected with all business disciplines - Organisations and Human Resources Management, Business Policy and Business Planning, Accounting, Finance, Operations and Marketing Management, Knowledge Management and Learning Manager. The relationship of Business and Management with these areas are presented by the following components which will be examined and analysed throughout the assignment: Managing in a Changing Environment, Organising: Differentiating and Integrating, Decision Making: Rationalist and Alternative Perspectives, Politics and Influencing People, Managing for Results and Making it Happen?Implementation. The main role of Business Management within the above areas is to explore the contemporary business practice, examine their implications for an organisation and for an individual, and emphasise the relational and performance-related elements of managerial work. Emphasis must also be placed on exchanging and sharing ideas on 'good' practice in specific cultures, as well as establishing expectations of self and others and the role power plays in shaping these.1 The approach taken to explore concepts of the course has been to place emphasis on the continuous group work which proved to be the most efficient way of learning and gaining knowledge. Group exercises, discussions and academic reading have all been used as methods in order to develop a greater understanding of business and management as a whole. The predominant areas to be analysed are Group Dynamics, Decision Making, Management by Results and Implementation/Project Management, theoretical and practical aspects of which are presented in the assignment. ...read more.

Middle

Group brainstorming: This led to various differences of opinions and ideas. The Glasgow group in particular was not willing to divert from their opinion and consider the better opinions from other groups. This resulted in minor conflicts and forming of coalition between the Frankfurt and Lyon groups. Groupthink: Imposition of intimidating phrases and words of ridicule by the Glasgow members and their refusal to accept other member's opinions resulted in voting and selecting the best decisions. Managing for Results A number of different performance management systems have been developed and are in use in a variety of different organisations in the public, private and voluntary sectors. * NRU LSP Performance Management Framework; * The European Foundation for Quality Management (EFQM); * The Balanced Score Card; * ISO 9000 2000; * Total Quality Management; * Performance Assessment, Monitoring, Review. The selection of the appropriate model is dependent on whether there is more focus on the performance management of individuals or as an organisation, as well as quantitative or qualitative indicators and measures are keys to make an effective assessment. One of the listed models, Kaplan and Norton's Balanced Score Card approach reviews an organisational performance from four perspectives: ?Financial, Customer, ??Internal Business Process and ??Learning and Growth. Within these areas, Kaplan and Norton provide a number of suggestions for quantitative measures to assess organisational performance. Financial The financial area is split into three parts; Revenue Growth (Sales and market share, Number of new customers and markets, Number of new strategies), Cost Management (Revenue per employee, Unit cost reduction,) and Asset Utilisation (Inventory reduction, Cash-to-cash cycle, Return on capital, Productivity/Efficiency.) Customer Kaplan and Norton suggest that organisations must first identify the market segment that they aim to supply. For each segment, they must focus whether the type of measure that they implement fits the characteristics of the business. Internal Business Processes Kaplan and Norton acknowledge that, although improvements in internal business processes do not have any bearing on the management of business at the strategic level, they do contribute towards noticeable improvements in business in the long term. ...read more.

Conclusion

Shared leadership results in commitment of group members to the cause. It's important to harness the diversity in groups. This also calls for open-mindedness and ability to challenge the status quo. Open and constant communication, both vertically and horizontally helps to decrease misunderstandings and conflicts within teams. Constructive feedback gives teams information on the progress they are making in order to see what is effective and what is not. High level of trust amongst team members leads to successful teamwork by allowing division of the work into manageable tasks. Effective teams have to be meticulously put together; this will result in teams that have a clear picture of their goals as well as clear and tangible evidence of their achievements From the study we established the importance and effectiveness of coalition and networking amongst stakeholders as well as having valuable company and market information. Thorough preparation for meetings is essential i.e. stakeholders analysis. Open mindedness should be maintained throughout the decision making process. All suggestions are valuable, and ideas that challenge conventional approaches should be encouraged. In order to effectively review performance, there should be emphasis on role development and mission statement. Strategic goals and plans should be established and key results areas defined. Organisational and individual employee objective and performance indicators should be established. Periodic measurement and assessment of each objective is vital, this will help in establishing training needs. The project implementation involves coordination and integration of all the activities of various contributors. The prime responsibly is to ensure that the project is organised so that all components and people fit together as an integrated whole. The project manager must develop communication channels that are appropriate for the particular project. The three primary constrains on a project; cost, time and quality must be managed throughout the project. The manager also needs to ascertain project performance and boost staff morale by spending time with them. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our University Degree Management Studies section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related University Degree Management Studies essays

  1. Critically analyse management and leadership theories over the last century, commenting on the extend ...

    In summary, by synthesising different studies and their results, major leadership traits could be said to be intelligence, self-confidence, determination, integrity and sociability. The trait approach has several identifiable strengths. First of all, it has a century of research to back it up and it clearly fits with the idea

  2. Strategic Management - CARREFOUR CASE ANALYSIS

    C 76) o When opening a new market, Carrefour operates a dual system for employing expatriates and local executives. (p. C 76) o As early as 1969 Carrefour was the first mass retailer to measure performance on the return on invested capital instead of the classic concept of gross profit margin used in traditional trade.

  1. Balfour Beatty. The purpose of this report is to identify and select a UK ...

    These products/businesses have potential which may be developed to grow market share at the expense of more powerful competitors, but may require substantial investment to do so. Problem Child Problem Childs have a low share of a high growth market, consuming resources, whilst generating little return.

  2. Management functions case study. This paper aims to present S.C. DECO PLAST S.R.L., a ...

    The organization's short term objectives for 2011 are: - Increase turnover by 10% compared to 2010 - Strengthening the leading position - Expending the range of products and services according to market trends. - Forming strong partnerships with future suppliers the company intends to have.

  1. In this assignment, my focus will be on Malaysian low-cost airline company - AirAsia ...

    Thus, there are many customers prefer AirAsia flies than others. Weaknesses: 1) Service resources are limited in AirAsia. In order to be successful AirAsia has to have own maintenance because it will help to reduce the costs. 2) Government interference affects AisAsia business.

  2. Strategic Business Plan of Nokia. This strategic report examines thoroughly Nokias current position ...

    the new strategy - significant reduction of key workforce W2: Performance of Symbian OS is lacklustre STRENGTHS S1: Brand awareness and strong brand image S4: Global production network and large scale of operation S6: Heavy R&D investment S7: Successful joint ventures and acquisitions S8: Competitive strategic culture with role segregation

  1. Operations Management Case Studies

    Keep material costs down will maximise profits, when using high value and high cost materials, this will be hugely beneficial. Scheduling and Loading: Use of sequencing rules; work out a schedule. Load charts can be used where extension of capacity is required.

  2. Critically evaluate historical, classical and contemporary approaches to leadership theory.

    Addressing culture clearly 1. The culture and underlying behaviors should be cleared by the leaders that support the new business method. Opportunities for rewarding those behaviors are also found by the leaders. A cultural change can be kicked start effectively with the understanding that all companies posses a cultural centre.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work