Understanding The Nature Of Management Strategies Commerce Essay

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Top-level managers, or top managers, are also called senior management or executives. These individuals are at the top one or two levels in an organization, and hold titles such as: Chief Executive Officer (CEO), Chief Financial Officer (CFO), Chief Operational Officer (COO), Chief Information Officer (CIO), Chairperson of the Board, President, Vice president, Corporate head.

Often, a set of these managers will constitute the top management team, which is composed of the CEO, the COO, and other department heads. Top-level managers make decisions affecting the entirety of the firm. Top managers do not direct the day-to-day activities of the firm; rather, they set goals for the organization and direct the company to achieve them. Top managers are ultimately responsible for the performance of the organization, and often, these managers have very visible jobs.

Top managers in most organizations have a great deal of managerial experience and have moved up through the ranks of management within the company or in another firm. An exception to this is a top manager who is also an entrepreneur; such an individual may start a small company and manage it until it grows enough to support several levels of management. Many top managers possess an advanced degree, such as a Masters in Business Administration, but such a degree is not required.

Some CEOs are hired in from other top management positions in other companies. Conversely, they may be promoted from within and groomed for top management with management development activities, coaching, and mentoring. They may be tagged for promotion through succession planning, which identifies high potential managers.

MIDDLE-LEVEL MANAGERS

Middle-level managers, or middle managers, are those in the levels below top managers. Middle managers' job titles include: General Manager, Plant manager, Regional manager, and Divisional manager.

Middle-level managers are responsible for carrying out the goals set by top management. They do so by setting goals for their departments and other business units. Middle managers can motivate and assist first-line managers to achieve business objectives. Middle managers may also communicate upward, by offering suggestions and feedback to top managers. Because middle managers are more involved in the day-to-day workings of a company, they may provide valuable information to top managers to help improve the organization's bottom line.

Jobs in middle management vary widely in terms of responsibility and salary. Depending on the size of the company and the number of middle-level managers in the firm, middle managers may supervise only a small group of employees, or they may manage very large groups, such as an entire business location. Middle managers may be employees who were promoted from first-level manager positions within the organization, or they may have been hired from outside the firm. Some middle managers may have aspirations to hold positions in top management in the future.

FIRST-LEVEL MANAGERS

First-level managers are also called first-line managers or supervisors. These managers have job titles such as: Office manager, Shift supervisor, Department manager, Foreperson, Crew leader, Store manager.

First-line managers are responsible for the daily management of line workers-the employees who actually produce the product or offer the service. There are first-line managers in every work unit in the organization. Although first-level managers typically do not set goals for the organization, they have a very strong influence on the company. These are the managers that most employees interact with on a daily basis, and if the managers perform poorly, employees may also perform poorly, may lack motivation, or may leave the company.

In the past, most first-line managers were employees who were promoted from line positions (such as production or clerical jobs). Rarely did these employees have formal education beyond the high school level. However, many first-line managers are now graduates of a trade school, or have a two-year associates or a four-year bachelor's degree from college

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Skills of managers

Conceptual Skills are the skills managers must have to think and to conceptualize about abstract and complex situations. Using these skills, managers must be able to see the organization as a whole, understand the relationships among various subunits, and visualize how the organization fits into its broader environment. These skills are most important at the top level management.

Human skills involve the ability to work well with other people both individually and in group. Because managers deal directly with people, this skill is crucial! Managers with good human skills are able to get the best out of their people. They know how to communicate, motivate, lead, and inspire enthusiasm and trust. These skills are equally important low level (first line) management, middle level management and top level management.

 

Technical skills include knowledge of and proficiency in certain specialized field, such as engineering, computers, accounting, or manufacturing. These skills are more important at lower level management since these managers are dealing directly with employees doing the organizational work.

 

Planning

Planning is the Is the primary function of management that Involves defining organization goals, establish strategies to achieve goals ,develop plans to integrate & coordinate work activities it concern in what do u plan and how is your plan means formal planning - whereby specific goals covering specific time period are defined. It Is important to ensure that everyone is clear of what to accomplish.

Mission- Yummy yummy company vision is to be the world's best quick service restaurant experience. Being the best means providing outstanding quality, service, cleanliness, and value, so that we make every customer in every restaurant smile."

Types of plans

Strategic Plans - strategic goals that are long term & apply to entire organization, establish organization's overall goals, made by the top management for the whole organization, are broad plans, are usually done for 5 years and above.

Tactical Plans- Plans done by middle level management, are short term goals, tactical plans are done for a period of 1 - 5 years, plans that basically focus on the problems of resource allocation.

Operational Plans- Plans that encompass particular operational area of the organization ,plans developed by first line managers, plans used for executing daily, weekly & monthly activities, plans that are narrow, cover short time period.

Single Use Plans- Plan made for a one time activity where an activity that does not occur again,once the activity is completed, the plan is no longer needed.

Standing Plans- Ongoing plans that provide guidance for activities performed repeatedly, once the plan is made, it is useful over many years. Eg: Policies, rules, procedures

Planning Process of Yummy-yummy

Step 1: Set objectives-Which mean Establish objectives & targets while taking into consideration such as mission statement, strategic plans/goals environment and availability of resources.

Step 2: Analyze & evaluate the environment- Once objectives are established, manager must analyze their current situation & environment (internal & external) to determine what resources are available.

Step 3: Identify alternatives- List/identify as many alternatives as possible to reach the goals.

Step 4: Evaluate the alternatives- Evaluate all alternatives to determine which combination of alternatives is the most effective & efficient to achieve the goals. For each alternative, manager will look at the advantages & disadvantages.

Step 5: Select the best solution- Select the best solutions and alternative that gives most advantages & fewest disadvantages.

Step 6: Implementing the plan- Determine who will be involved, what resources will be needed, how the plan will be evaluated, how reporting will be handled.

Step 7: Controlling & evaluating the results- Monitor to ensure plan is going according to expectations & make necessary adjustment, if needed.

Effective planning for their success of Yummy-yummy

-Encourage employees at all levels to provide feedback & suggestions for planning.

-Develop plans that are specific but flexible.

-Clearly define the mission of organization with detailed time frame & strategies.

-Ensure effective communication & information flow so that there is transparency & therefore able to get cooperation from employees.

- Incentive based rewards for employees will ensure that employees are rewarded for their extra effort. (E.g. Bonuses and overtime pay)

What are the Issues that can cause a company to fail to achieve their target/goal and methods of overcoming it?

-Failure to understand goals set

-Unable to encourage employees to strive for success

-Ineffectiveness and insufficient efficiency in business practice

-Failed marketing strategies

Failure to understand goals set

A business has to set their goals clearly for them to achieve them. The goals are very important as it defines the direction of the business. If a business has no goals, then the business has already failed. In Yummy-Yummy's case, the business goals is to provide customers with a unique and tasty meal as well as to generate a substantial profit.

Unable to encourage employess to strive for success.

Employees are a backbone of a business. If the employees are not hardworking and productive, the business will find itself hard to grow and make money. Employees have to be given incentives for them to produce good work. Overtime and bonuses are a must to ensure the employees strive for better productivity.

Ineffectiveness and insufficient efficiency in business practice

If a business is ineffective and inefficient, the business will waste a lot of its resources on many things thus causing in a dip in profits or even a loss. There has to be a good control in the business.

Failed Marketing Strategies

Marketing is important to the business as it creates an image in the potential customer's mind about the product. Marketing for Yummy - Yummy has to be effective as well as cost beneficial. If the marketing department fails in their tasks, sales will definitely stagnate.

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