Key Functions Of The Santander Management Commerce Essay

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The functions of management uniquely explain managers' jobs. The most frequently cited functions of management are planning, organizing, leading, and controlling, although some identify additional functions. The functions of management define the process of management as distinct from accounting, finance, marketing, and other business functions. These functions provide a useful way of classifying information about management.

Planning, organising, co-ordinating, commanding and controlling are the elements of management according to Henri Fayol.

Company's overview

Santander is one of the largest banks in the world. Santander has got around 90 million customers, 3 million shareholders and 170,961 employees and was established in the year 1857.

In the UK, they have over 24 million customers, 1.8 million shareholders, more than 1,300 branches and 4,500 cash machines and they are committed to providing excellent service.

They have put in place a set of principles to make sure that the customers are delighted with their service every time they deal with them. They will make them feel welcome and treat them in a helpful and friendly way. They will always aim to understand the financial needs and offer products and services which will benefit the customers. They will aim to handle their accounts smoothly and efficiently at all times. If something does go wrong, they will aim to put it right as soon as possible, keeping them informed and keeping their promises.

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There are many departments in this organization. One of the main departments is Collections. The role of subordinates in this department is to receive and make phone calls and collect outstanding balance from the customer.

The role of the manager in this particular organization is to pass the work to the team leaders and team leaders in turn pass the work to their subordinates. There is a monthly collection target given to the subordinates which needs to be achieved. The subordinates have to collect as much money as possible and achieve the individual target. Team leaders have to achieve the overall target of their teams.

If all the individuals within the team achieve their target, the team achieves its target, if all the teams achieve the target; the overall monthly target of the manager is achieved.

Managers at Santander

Here the manager has to supervise the work of his subordinates and help them wherever necessary. Also he has to keep in mind that the subordinates do not unnecessarily waste their time during working hours.

The Manager has to delegate the work between the subordinates according to their knowledge and experience. He has to arrange regular meetings with his team to put forward his views and to take the opinion from the subordinates. He also needs to arrange a one-to-one session with each employee individually.

He has to ensure that the employees come to work regularly. He has to keep a record of the attendance of the employees and according to that he has to give salaries and bonuses. He has to set certain criteria's for the employees in order to give the bonuses.

Whenever there are conflicts between the employees over certain organizational matters, the manager is expected to resolve all such conflicts and arrive at an agreeable solution.

The Manager also has to make certain routine decisions in connection with matters pertaining to the daily operations of the business. Payment of salaries and wages, sanctioning leave to subordinate staff, etc., are examples of such routine decisions.

Why do organizations give formal authority to managers to direct and control the activities of their subordinates?

Organizations give formal authority to managers because managers are building blocks of the organization. A manager performs five basic functions - Planning, organizing, staffing, directing and controlling. At all the levels of management we have managers working there and performing one or more of these managerial functions.

A manager's key role is to achieve effective utilization of resources in an organization. He achieves so through coordinated human efforts. A manager has a very significant role to play in achieving organizational objectives. He is responsible for aligning the individual's objectives with the organizational objectives. This is very essential for achieving long-term organizational goals.

A Manager is the one who communicates organizational vision to the employees of the organization. He should ensure that there is effective communication flow in an organization and that there should no misinterpretations taking place.

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Managers, at no matter what level of the organization, typically have the same basic responsibilities when it comes to managing people at work. Managers have the responsibility to get the work done from the subordinates.

As a leader, the manager has to set an example to his subordinates. He must be sincere, honest and committed to his work. Only then, he will be able to guide and motivate the subordinates under him.

There are particular people whom others follow, for whatever reason. For example: they have a good sense of humour or maybe they have a good understanding of a particular area, etc.

A manager distributes work among the subordinates and looks after the people in an organization. He uses the financial resources of a company in a best possible way in order to earn huge profits. He ensures that the time is utilised properly and that the work is done within the time given.

Boss and a Leader

These two words can be used very differently by people. For example, there are good bosses and bad ones. In addition, there are inspiring leaders and despotic ones! There is great fluidity, to say the least. A leader is one who leads people, usually through foresight, vision and example. A boss is someone who has authority, but someone who does not necessarily lead.

A boss has authority, whether or not it's been earned and appreciated. A boss holds your family's wellbeing in his hands by permitting you to have a job, or by suddenly denying your employment. A leader's authority comes in the form of people's belief. A leader's authority can be taken away more easily than a boss' authority. If enough people stop believing in the words of the leader, he or she stops having influence over others.

Basically, the difference between the two rests in the ability to inspire others to want to become leaders as well. A leader can rule over a boss, even if he or she were not in the position technically. This is known to happen in situations where a weak leader is mangled by his workers and eventually becomes removed. For example, being a Principal, if a teacher with more leadership skills, organization skills and charisma begins to make rules for the Principal to follow and succeeds, then chances are that she would be the leader of the boss.

But in today's world a boss would also have to be a leader. For example: Coming from the education field the Superintendents and Principals are bosses but more importantly must be leaders also. There would be no reason why this wouldn't be the same in the world of business.

A boss, including a supervisor or a manger can be a leader. As a matter of fact, to be a good boss, one must be a good leader also.

Boss is a person who has some formal authority to direct and control activities of his subordinates by virtue of his position in the organization structure. This formal authority is not sufficient for boss to get the best output from his subordinates. For that the boss needs additional leadership qualities and behaviour, which makes a person a leader. Being a boss in no way prevents a person from having qualities of a good leader and behaving like one.

A boss most certainly be a leader. Human nature learns by doing, yes, but a boss must lead and model the skills and attitudes wanted in the employees. A good boss will have been such a good leader, that when s/he departs the place of employment for other jobs, the employees can continue in an effective and productive pattern.

The main difference between a leader and a boss is in the nature of power or influence they have over the actions of others. Leaders have the power to lead and direct the action of their followers because of their ability to inspire confidence in them and motivate them. This authority is not handed down to them in line with some formal organizational design or company policy. It is the power they acquire by their own behaviour and performance.

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In contrast the power of bosses or managers, in their capacity as bosses or managers, over their subordinates is formal, which is handed down to them in line with organizational design and company policies. The power they exercise over their subordinates is because the company has delegated to them some of the power they have over these employees because of their employment contracts. However it should be noted that a bosses may also be a good leader and may acquire additional influence over their subordinates using leadership qualities. As a matter of fact to be an effective boss, is necessary to become a good leader also.

Leaders vs. Managers….. Are they really different?

Managers and leaders are two very different types of people. Managers' goals arise out of necessities rather than desires; they excel at defusing conflicts between individuals or departments, placating all sides while ensuring that an organization's day-to-day business gets done. Leaders, on the other hand, adopt personal, active attitudes toward goals. They look for the opportunities and rewards that lie around the corner, inspiring subordinates and firing up the creative process with their own energy. Their relationships with employees and co-workers are intense, and their working environment is often chaotic. The managerial power ethic favours collective leadership and seeks to avoid risk. Mentor relationships are crucial to the development of leadership personalities but in large organizations such relationships are not encouraged. Businesses must find ways to train good managers and develop leaders at the same time.

Often we are told that leadership is the key to the success of any business or organization. What is leadership? Is it the same as management? And what separates would-be or so-so leaders from world-class leaders?

There are business leaders and there are business managers. And while some leaders are managers and some managers are leaders, many times leaders and managers are very different animals. All too often we fail to recognize these differences in our businesses' day-to-day operations.

Leadership requires the creation of new systems and the vision to see something new, something beyond the status quo. Being a leader means taking calculated risks. Most managers instead focus on maintaining the status quo.

Leaders think outside the box and disrupt the status quo. They search for better, more efficient ways to do things. It is this type of thinking that can create energetic teams and accomplish the goals you have set forth for your company's future. This is the kind of thinking that can move mountains or anything. Leaders inspire, move, and remove multiple layers of management within an organization. They need to shift the responsibility between the subordinates. They also need to force out the non producers and reward those who are the producers.

Leaders fully understand the importance of self-management and self-motivation. They understand the value of empowerment.

Key Differences

Leaders have followers; managers have employees. Leaders empower and inspire their followers. Managers only maintain command and control, many times to excess, thereby uninspiring employees.

Leaders do not seek stability, they look for flexibility. Leaders set the course, inspiring their followers to solve their own problems and make their own decisions. Leaders teach their followers to be leaders in their own right and to better themselves, their companies, and those around them. Managers make decisions, solve problems as they arise, and give orders.

Leaders are always looking for better and more efficient ways of doing things. A manager just accepts the organization's makeup and culture and does all that he or she can to cement the company's status quo.

As leaders we always need to be looking for ways to access the brain trust we employ-the know-how and everyday skills of our people. Unfortunately, even the best of managers don't do well with this type of task, but leaders do!

Turning Managers into Leaders

To empower and inspire our managers to become leaders, we must go beyond hiring people with only primary management skills. We must look for candidates who reveal a great deal of character and possess good leadership qualities in addition to management skills. The real challenge is one that we all face, at all hiring levels in any organization is- where to find them. And we must be able to recognize them when they are sitting before us.

Good leaders share many of the similar characteristics and attributes. Leaders have vision and are able to converse the vision to others. Effective communication is as important as the vision. They have integrity and are more concerned with doing the right things rather than what is expedient. Integrity is essential for a leader to have followers.

Leaders also understand that trust is a two-way street. They must in themselves and their employees and they must earn their employees' trust. Leaders let those around them know and feel the commitment they hold for each employee and the organization. Leaders show their loyalty to the employees, the managers, and the company as a whole to earn the employees' loyalty.

The Most Profound Differentiation between Managers and Leaders

The most profound differentiation between managers and leaders is the general unwillingness of managers to lead. They are often reluctant to make the difficult and unpopular decisions necessary and instead follow the path of least resistance. Many times this is the result of the manager's lack of leadership qualities. In other cases, it's the result of a manager being managed by a manager, usually a micromanager, rather than a leader.

Conclusion

Managers are given formal authority to direct and control the activities of their subordinates because they are the ones who produce innovative ideas. They understand the external as well as the internal market in a better way. They take their own decisions and avoid the dangers of group thinking.

An effective manager knows how to utilise both infrastructure and personnel in a better way. He or she knows how to delegate responsibility and hold people responsible for their performance

A successful leader can be a boss but a boss cannot be a leader. It is true in most of the professions, especially in ones where the workers are required to use their brains.  When a boss just tries to tell people what to do all the time without trying to get them on his/her side, the workers get angry and aren't so willing to work their best.