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The Different Principles Of Management Management Essay

Students will be assigned one company each during the first class and will be required to write a report on the company addressing the following questions. For each question you should include concrete examples to illustrate your answer.

Core Business (6%)

Describe the major business of the company:

- What are its major products or brands?

- Which business generates the most revenue?

- Which business generates the most profit?

- Which business will drive growth in the next decade?

- How successful would you say this company has been since 2007?

Corporate Responsibility (12%)

How has the company responded to the increasing demands of society for greater Corporate Responsibility? Or to the challenge of sustainability? Or Climate change? What evidence is there that the company engages with external stakeholder?

Crisis Management (12%)

How has the company managed major issues in the past few years? Has it had to face a major crisis? How did it react?

If there has been no particular crisis related to the company, such as a product failure or damage to the environment, how has the company reacted to the economic downturn?

Strategy (12%)

How would you define the company’s strategy over the past years:

What markets has it focused on?

What are its core strengths?

Would you describe the company as innovative?

Vision, Mission, Goals (12%)

What is the company’s Vision? What are its goals? How does it motivate its employees?

Desirability as an employer (6%)

Would you like to work for this company and Why?

11. Assessment criteria

Words counts

You will be marked on content rather than length (a good business report will be concise and to the point with litter or no extraneous information and data) but you can use the following as a rough guide for the minimum length: roughly 2000 words as follows:

Business description: there are five parts to this question each will need a minimum of 100 words to describe a reasoned response.

Corporate responsibility: there are four parts to this question each will need a minimum of 100 words to describe reasoned response.

Crisis management: there are two parts to this question; either part will require at least 250 words response.

Strategy: there are three parts to this question and each will need minimum of 100 words to describe a reasoned response.

Vision, Mission, Goals: there are three parts to this and each will need a minimum of 100 words to describe a reasoned response.

Desirability as an employer: a reasoned response world be at least 100 words.

Content

Responses will be graded according to the following criteria:

Evidence that you have understood the basic management principles

Evidence that you have explored information from several sources (duly cited, see below) and not just the company annual report or website publications.

Where there is conflicting information (e.g company reports and public reports are difference) an ability to set out the student ‘s own point of view with a reasoned argument.

Answer:

I will write a report: Vietnam Posts and Telecommunications Group (VNPT).

Over the past year, Vietnam Posts and Telecommunications Group have made a great contribution to the development of Vietnamese Post Sector. It has developed a post and telecommunication network all over the country, connected to the international post and telecommunication network, offered the diversified services with fast coverage and modern digital communication modernization. It has forcibly attracted the foreign capital, brought the digital equipment to be used in the posts and telecommunication sector and considered the international telecommunication as a breakthrough to promote Vietnamese Post and Telecommunication Sector to be on a par level with the global posts and telecommunication technology and to rapidly spread with the International Posts and Telecommunication Network. So far, the posts and telecommunication sector has become a focal point economic sector with the most modern, rapid technological development pace in the cause of state administration and governance and country industrialization and modernization.

Company name in Vietnamese language: Tập đoàn Bưu chính Viễn thông Việt Nam

Company name written in foreign languages: Vietnam Posts and Telecommunications Group(VNPT)

Found since 1995 under the Decision no 294/TTg, VNPT has become one of the first state Corporations established according to the model of a giant group under the state management.

According to the Decision No 06/2006/QD-TTg of the Prime Minister, VNPT has officially become a Vietnam posts and telecommunications Group as a replacement for its old model. With development strategies of the model of the economic groups in Vietnam: multi-sector, multi-field, multi-ownership Enterprise of which the posts, telecommunications and informatics are the major fields.

Vietnam Posts and Telecommunications Group converted its model to become a one member limited liability company owned by the state under the Decision No 955/QD-TTg of the Prime Minister on June 24, 2010. (VNPT, Feb 26, 2011)

 VNPT is involved in the following business lines, including:

• Services and telecommunication, informatics products;

• Services and traditional products;

• Survey, consultation, design, construction, installation, maintenance of telecommunication, informatics and communication facilities;

• Production, import and export business, supply of materials, telecommunication, informatics technology and communication equipment and machineries;

• Financial, credit and banking and insurance services;

• Services advertising and event organization;

• Real estate trading, office leasing services;

VNPT has increasingly expanded its largest network of posts, telecommunication and informatics technology with a system of modern, widespread post offices, services outlets all over the country. In 2010, VNPT has focused its investment in capacity building for broadband NGN, IP new network in the provinces, cities in Vietnam, enlarged the optical cable lines to international lines, the North- South Axis optical cable, mobile networks and implemented to meet the pace of execution of specially used data network for domestic customers and governmental agencies;

In addition, new services are being interested for development such as 3G, myTV, FTTx etc to dominate the market and the feasible results have been achieved. In Vietnam, VNPT is an enterprise, which has the largest market share in the posts and telecommunication sector: accounting for 58.58 % of the mobile market share calculated in the flow, 71.32 % of the broadband internet market share and 77.66 % of the fixed telephone market share. (support.vnn.vn, 2011, Feb 26, 2011)

VNPT is a leading Enterprise in the posts, telecommunication and informatics technology in terms of turnover in Vietnam. Therefore, this is also a sector, which has brought about the highest income in the operation of the Group with two main posts and telecommunication services suppliers, being Vinaphoen and Mobilefone. In addition, other services such as fixed telephone, supply of internet services, post services etc have also contributed to generating its annual revenue.

It is the exclusive Enterprise in the posts, telecommunications and informatics technology sector having the turnover exceeding 100,000 billions VND and is also one of the enterprises having the highest budget contributions, maintaining, expanding a network of communication, improving the services to meet customer demands on time and to contribute to the socio-economic development and to stabilize the macro economics and to help curb the inflation. The network of VNPT is being increasingly widened to affirm that it is an enterprise having scope and capacity of the largest posts, telecommunications, and informatics technology network with the system of modern, widespread post offices, services outlets, and telecommunication infrastructure in the country. (XL, Feb 26, 2011)

Its overall objective is to:

Continue to build and develop the wide-coverage, modern technology, high quality, broadband telecommunication, informatics technology infrastructure;

Focus in developing the efficient services, promoting the investment to foreign markets;

Keep the number one rating of a telecommunication, informatics technology supplier in Vietnam

Telecommunication infrastructure; this is a target helping to promote the growth of the telecommunication and informatics technology sector in the next decade of VNPT.

Over the five years so far, the fact that VNPT has been very successful in its business fields has made a great contributions to the business environment and social life development

In the summary of a period of 2006- 2010, VNPT has remained the tope rating in the services fields: fixed telephones accounting for 93 of the market share, the mobile phones accounting for 60 %, broadband internet services accounting for 75 % and utility post services accounting for 100 %. The group network infrastructure is being continuously invested for enlargement to be on par level of the international technical and technological development. Besides, the quality of posts and telecommunications and informatics technology services is being continuously maintained stably to meet the increasing communication demands of the society, to serve immediately the directions and management of the Government and to make positive contributions to the security, national defence and calamities protection etc…

The arising turnover of the group in the five years is expected to be about 321,711 billions VND, has met the target of the entire phase, has achieved the average growth rate of 22.4 %; total budget contributions achieved have been 35,444 billions VND, have met 105.8 % of the target of the entire phase; the average growth has been 6.38 %; total mobile/fixed telephone subscribed package has been 76.15 millions of registrars, has achieved 360.47 % of the target of the entire phase, the average growth rate has been 35,77 % per year; VNPT has completed the plan for separating the posts and telecommunication sector.

The telecommunication network is step by step entering a stable and efficient operation; VNPT has launched and operated the Vinasat 1 satellite successfully and efficiently; the trade mark of this Group is being increasingly improved; It has joined the largest Conexus mobile union in the Asia; it is also a leading enterprise in the typical social security towards the community with the assistance of 200 billions VND for the socio-economic development in two poor Districts- Sin Ho, Muong Te Lai Chau; the staff life is being increasingly paid attention and improved.

In 2010, VNPT has achieved a turnover of above 100,000 billions VND, which is the highest so far made. Its actual existing turnover has been 101,569 billions VND, has increased 21.23 % as compared to that achieved in 2009. This result is a clear evidence of VNPT’s bid in the context of Vietnamese economy that has to cope with the global crisis and in the condition of a sharply competitive telecommunication and informatics technology, reduced freight, and the inconsiderably increasing social services demand.

With consciousness of operation for the national development and community benefits, VNPT has clearly worked out a plan for expanding and developing a widespread network of posts and telecommunications to all regions such as building the commune cultural post offices (so far has covered 100 % of all communes all over the country) with a view to providing the convenience to the remote and mountainous region people, thus helping the ethnic minorities get access to the new civilization and culture easily. VNPT has also participated in other social activities such as “the journey to the heart” to bring a plentiful Tet (Traditional New Year) to all the poor, to build the social house to Vietnamese heroic mothers, to give the rolling vehicle to the disabled, to build the semi-residential houses for local people, to build the comprehensive vocational facilities, the social houses for and to provide the training for workers etc( VNPT’s journey for the community life);

VNPT has received the Vietnamese golden humane cup 2008) by the Government for its great contributions to the humanitarian, charity, reward works;

Over the past years, Vietnamese economy in particular and the world economy in general have been affected by the highly rising depression and inflation. However, posts and telecommunication enterprises have still on the consistent sharp growth pace in both turnover and profit: “in 2008, total turnover of VNPT achieved was about 53,100 billions VND (more than 3 billions USD), it was a 17.5 % increase as compared to 2008. This is a quite high growth of a state enterprise in the condition of recession”(Thái KhangHYPERLINK "http://www.baomoi.com/Home/CNTT/ictnews.vn/Vien-thong-tang-truong-du-kinh-te-suy-thoai/3695688.epi", Feb 26, 2010).

This phenomenon is a result of increasingly high demand of the local people with diversified posts and telecommunication services;

While enterprises operating in the other fields are managing in search for the ways to overcome the depression, posts and telecommunication enterprises in general and VNPT in particular are involved in development of new services such as 3G services in order to satisfy the demands of the majority of customers. VNPT has positively invested in the value added services such as 3G services because it is a future development. On October 12, 2010, Vinaphone launched the first 3G network in Vietnam. After the services were provided, Vinaphone said that 3G services still developed positively even though the economy was affected by the widespread depression. At present, demand for services in Hanoi and Ho chi Minh cities is the highest, accounting for the majority of new 3G subscribers of this mobile network.

A statistics on a development mark of this group is essential to identify a clear strategy of VNPT in the past years: for example, in 1995, VNPT was found and then was involved in the fields of production, trading, exploiting management and supply of the posts and telecommunication services. After 5 years (2001), VNPT has developed firmly in many fields, especially, focusing on development of new subscribers for telephones/mobile phones with a turnover of 18,000 billions VND.

In 2005, 100 % of commune cultural post offices were completed. Up to 2009, VNPT focused on development and were leading in the development and supply of the 3G services.

VNPT has executed the coverage nationwide to meet all customer demands. Therefore, the market for which it has targeted for the further development is to conquer Laos, Cambodia markets, moving to the Asia market.

VNPT has had many improvements in the organizational structures and the management of production and trading, the ways of orientation, and proposals of the Departments and coordinated in the production and trading among its subsidiaries, synchronized all procedures in the process of management with a view to improving the manufacturing and trading efficiency. Along with that, solutions have been carried out synchronously, based on and focused on implementing the set out targets;

Year 2010 is also a thinking year in the production and trading, which has been converted forcibly and comprehensively: from orientation of products and services to orientation of customers; focusing on the targets and assignments to improve the organization, people and mechanism, improving the awareness in the contingent of staff about the position, role, challenges, targets of VNPT and responsibilities of each individuals to VNPT as well.

Group has set a target to continue to affirm that it is a top economic Group in the development of infrastructure, supply of services and solutions for posts, telecommunications and informatics technology in 2011. VNPT will develop an optimum, modern, efficient posts and telecommunication network, implement the utility services assigned by the state well and make the independent accounting according to a set out route.

Build and develop the modern technology, high quality and broadband telecommunication infrastructure, informatics technology. Focus on development of highly efficient services, promoting the investment to foreign countries; maintain the number one position in supply of posts and telecommunication, informatics technology services in Vietnamese market, helping Vietnam to become a developed country in posts and telecommunications and informatics technology in 2015. VNPT’s strategic objective is to become one of 10 leading posts, telecommunications, and informatics technology services suppliers in the Asia region.

Promote the national spirit, the self-control, the creativeness in planning the strategy for development in the new period. It is the strategy for integration and development, of which, promoting the best the internal force in both traditional time and modern time, making precondition for making use of and exploiting the external force efficiently are the main principle. Bearing with its social responsibilities, especially, the leading sector of the process of promotion of industrialization and modernization, the sustainable development of the post sector also has a strong impact on the development, which ensures the sustainable characteristics of other sectors and the fields of protection of ecological environment, security, national defence as well.

In the role of an owner/a business manger, you should have a strategy to get success. The business strategy looks forward to the further future of the company. The company owners/managers easily forget and ignore a business strategy because they are very busy with the present work. While, you cannot know how you can locate your business work and know clearly how to get hold of them in future. Being an owner/a business manager, you cannot delegate the authority to the others to develop a business strategy. You must decide your business future or the competitive competitors will get upper hand.

Via the above analyses, it can be seen that the goals and strategy for long term development of VNPT is very clear, in addition, it is also approved, provided the assistance with respect to the state policies and the support of all society. This is a great honour; furthermore, it is a heavy burden that requires the comprehensive efforts of the leadership, management apparatus and the staff of VNPT in both present and in the future. It is also the reason why I want to become a member of VNPT and aspire to contribute to the development of this Group.

Task 2: MBA 403 Timed assessment

Read through each question carefully. Then choose 2 answers.

Each answer carries 20 marks towards the total of 100 marks for the course.

Each response should be approximately 500 words.

Critically compare the view from Milton Friedman who believes that the only stakeholder that company to is responsible to is the shareholders with Charles Handy’s belief that the company must balance between the competing demands of all stakeholders.

Critically discuss the contention that “leaders are born not made”.

You have recently been made the CEO of a medium-sized Vietnamese company. Performance has been declining over the past few years under family management. The business was successfully built by a Vietnamese entrepreneur. It was successful. He developed a strong business in Vietnam and then expended operations by exporting to the European Union. Since his son took over the business, performance declined as the son enjoyed an extroverted lifestyle and did not focus on the business. A western Multinational has now bought the family business and has appointed you as the first professional CEO with a task to reinvigorate the company. Evaluate the steps that you will need to take in the first few weeks of your role.

Critically discuss the following statement.

The best way to ensure constant innovation is to hire young, newly-graduated candidates with an interest in innovation and set them up in a think-tank, separate from the main organization – so they can develop new ideas unimpeded by the existing business.

Answer:

I will choose question 2 and 3 to answer:

Critically discuss the contention that “leaders are born not made”.

For this task, we need to co-evaluate and discuss on the contention that “leaders are born not made”. To evaluate this issue, first, we must try to understand how is being a leader and what a leader is born.

Leadership is an influential form, is the ability to motivate others to work for something, to believe in something, and to act according to a certain method. The style of leadership is a model of action for which you have to use to impose your influence to employees.

The purpose of leadership is to get thing done and help others exploit their potential. In modern times, those who have had a lot of experience during a long working period plus the respect from the colleague gradually become leaders; however, their existence or presence in their roles through time may turn them as straw effigy or bad leaders. However, some people become the gifted leaders because they have their experience, increasing study and plus inborn aptitude. The matter is who can be a gifted leader by just their inborn aptitude? For me, one will hardly become a leader if one is just inclined to the inborn elements without highlighting a long learning struggle. As a leader must have all features: a vision, the ability to motivation to promote others, the sharp mind in emotion, the authorized ability, creation of a confidence for others, know how to analyze and accept, have ability to focus, the steadfast character, finally, know how to smile (sense of humor)(Gregory P. Smith, Feb 26 2011). Also similarly, if a person has a long period of training and learning from experience but lacks an element relevant to mind or inborn leader quality, he or she will be difficult to be a perfect leader.

“Genius consists of 1 % of inborn talent and 99 % is for training” said the T.Edison. It is a saying about being a genius, so, how is a leader? Whether or not training or inborn ability helps to be a leader? In my opinion, if there is inborn quality without any training to develop that quality, it will be forever the “potential”. Otherwise, it can be a leader but it will be hard. So, a person combined by two elements: inborn and training will look like a sprouting seed on a fertilizing land suitable to it in the good natural condition.

I have ever participated in many discussions to contend this issue to raise the most common concepts. Almost discussions are not ending, however, my views are restricted to the above analysis: leader is born not made but this is due to the combined two elements: inborn and training. To become a gifted leader, you have to learn to improve the knowledge and accumulate experience. You also have to practice frequently to exploit all your potential ability in your body and are ready to share views with others. By so, the success of a leader will be perfect and complete.

You have recently been made the CEO of a medium-sized Vietnamese company. Performance has been declining over the past few years under family management. The business was successfully built by a Vietnamese entrepreneur. It was successful. He developed a strong business in Vietnam and then expended operations by exporting to the European Union. Since his son took over the business, performance declined as the son enjoyed an extroverted lifestyle and did not focus on the business. A western Multinational has now bought the family business and has appointed you as the first professional CEO with a task to reinvigorate the company. Evaluate the steps that you will need to take in the first few weeks of your role.

This company may well have a very good interval of development. It has been proved by a fact that it has not only been successful in the Vietnamese market but has also sold products to the EU market, which often set forth the stringent requirements for goods quality. This success is a testament to talent, leadership, vision and good business strategies of the enterprise and the founder. Regret to say that his child who takes over the own business is just an extrovert, who hardly focuses on what he should have been involved with his business undertakings and this has led to the merge by a western multi-national company.

As a Director in the above crisis period, I will take steps to restructure the company to develop faster in the future.

Firstly, I must determine which problems it is facing and what it needs and nothing else is to look into the whole structure, finding the real problems, and then proposing the appropriate solutions. The most occurring problems on how to restructure or re-establish the business are categorised into four main groups:

“Surface group” includes the noticeable signs such as the reduced revenue, the narrowed share market, the loss of property, the deprivation of competitive advantage, the loss of control in many aspects etc….

“ Subsurface group’’ includes the phenomenon directly related to the revenue results such as the poor coordination among Departments, unclear business policies, unstable product quality, marketing activities, ineffective sale, customer complaints or no complaints, or customer leaving, a lot of debts, high stocks etc..

“Mid surface group” includes the phenomenon not directly related to but may have indirect impact on business result such as staff, officials (even office staff) without no clear motivation and goals; management level being involved with on case settlement; passive advanced level management, constantly changed manpower or stable manpower with old staff; bad decentralization mechanism, all things to be decided by the boss.

“Bottom line group” includes the signs which cannot be detected easily as it is in the high layer, and are hardly involved with daily production and manufacturing. The high level meetings are not available to discuss on the strategy management; business has no business philosophy, business neither develops nor communicates the vision, the mission, the core value, the business culture; business owner never pays attention to the long term objective and the long term orientation for development but just looks for short term objectives; the business activities are just fast profits, fast fighting and swift withdrawal without any real strategy.

Based on the shortcomings of business that it has, adaptive restructure models should be applied:

- Changing the business strategy to suit the new circumstance should be considered as a key issue, a red thread through the process as entire business restructure, means the restructure, rearrangement of the internal administrative system and manpower apparatus should be based on and serve the completion of the strategic objectives for which that business has formulated.

- If company faces a lot of difficulties, restructure should be divided into two stages: the first stage is controlling the financial flow, more specifically, reviewing and stopping immediately the unnecessary or ineffective spending, especially for big spending that can have adverse impact on the company operations. The next stage is changing the strategy, meaning reviewing the strategy for which the suitable action should take such as cutting or trimming the business loss and focusing on which things it should do.

- The internal management system and manpower structure should be redesigned to the new strategy. The family control based management should be eliminated. The financial management should be based on the main financial prospects to develop the good strategies rather than based on the mere accounting data as it just reflects what has been over. The restructure of the manpower structure is viewed to cut costs and enhance the labour productivity. The rough manpower system and poor working awareness should be eliminated. Besides, the method for keeping talent should be enforced by introducing the incentives, income increase for labourers.

- Restructure of business regulations is an act to review basically and redesign at its root the business and production process to achieve the excellent improvements for the bottom line and immediate targets such as costs, quality, services and efficiency;

Restructure means to re-orientate the business activities and to adjust the investment capital flow to increase the business efficiency;

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