Business Finance - Management homework
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exampletofollow.docxword count 2700 (only the highlighted columns are included in the word count)-. You are ONLY required to complete Six of the themes covered in the module
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Books, articles websites (sources) identified through independent research& Harvard Reference for each entry, including using in-text citations in the Key Ideas and Relevance columns 20% |
Key ideas – relating to the theme
25% |
Relevance (why did you choose it?) & Quality of the source
35% |
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1: THEME: Overview of HRM/OB and the External Environment
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1. Griffin, R.W., Phillips, J.M. and Gully, S.M., 2016. Organizational behavior: Managing people and organizations. Cengage Learning.
2. Beer, M., Spector, B., Lawrence, P.R. and Mills, D.Q., 1999. A conceptual overview of HRM. Human Resource Management: Critical Perspectives on Business and Management, 1, p.30
. 3. Chittithaworn, C., Islam, M.A., Keawchana, T. and Yusuf, D.H.M., 2011. Factors affecting business success of small & medium enterprises (SMEs) in Thailand. Asian social science, 7(5), pp.180-190.
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OB is the study of individual and group activity or performance within an organization. That examines people's behavior inside the organization's working environment and determines its impact on performance, work structure, leadership, and motivation. It is the methodical review and information concerning how people and groups act inside their work associations. It is the deliberate review and utilization of information regarding how people and gatherings act inside their work associations. OB attracts from different disciplines to make an exceptional field. To concentrate on power and impact in associations, we acquire intensely from political sciences. Even clinical science adds to the field of Organizational Behavior, especially in investigating stress and its impacts on people. There is expanding understanding concerning the themes that comprise the branch of knowledge of OB (Griffin, 2016). • Work satisfaction. • Tracking down the right people. • Authoritative culture • Administration and conflict resolution • Understanding employees better. • To develop good leaders. • Foster a good Team. • Higher Productivity The above objectives depict that OB is concerned about individuals inside the association, how they are cooperating, their fulfillment level, the degree of inspiration, and tracking down ways of further developing it that yields the most usefulness. People, Environment, Technology, and structure are four fundamental forces affecting OB. Because of the increase in organizational intricacy, different approaches are required and help in numerous ways. The human resources approach (HRM) is one of the organizational behavior study's approaches. People act how they do a susceptible and complicated process.HR is the course of procurement, improvement, inspiration, and workforce support for accomplishing organizational objectives. HR or the human resources board is fundamental in the present corporate sector. The HR standards are the foundation of any business sector (Beer, 1999). It has various approaches that define HR from various perspectives. • Strategic/ System approach. • Management approach • Commodity approach • Proactive/ Reactive approach
People have core competencies and are the strategic asset of an organization. The external environment, also known as the general environment, is a comprehensive concept that includes every external factor that affects the business operation. An association should answer or respond to keep up with its operational flow. The organization needs to exploit, adjust, and fit with the forces to thrive and succeed in its external environment. Organizations work in various external environments are organized and structured internally to meet both external and internal opportunities (Chittithaworn, 2011) Different Macro forces and Environments: • Economic forces • Technological forces • Political and Government forces • Sociocultural forces |
Griffin (2016) book “Organizational behavior managing people and organization” is published by “Cengage Learning.” It upgraded 12th edition with new development in the corporate sector, especially in organizational behaviour. It consists of sixteen chapters that comprehensively and categorically cover significant topics, especially Chapter 1 is highly relevant to our theme, “An overview of organizational behaviour”
This book gives a detailed overview of HRM from scratch in ascending approach. Especially the historical improvements that consolidated to shape the advanced HRM work are investigated, and consideration is paid to momentarily outline current HRM exercises that are normal across numerous associations (Beer,1999).
I chose this article because of its high-quality learning material contributed by the best teachers of top universities and reviewed by hundred’s lecturers and professors of various institutes around the globe (Chittithaworn,2011).
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2. Theme: Organisational Development OB - Structure and Groups |
1. McLean, G., 2005. Organization development: Principles, processes, performance. Berrett-Koehler Publishers.
2. Ahmady, G.A., Mehrpour, M. and Nikooravesh, A., 2016. Organizational structure. Procedia-Social and Behavioral Sciences, 230, pp.455-462.
3. Tolbert, P.S. and Hall, R.H., 2015. Organizations: Structures, processes and outcomes. Routledge. |
Organizational development can be characterized as a goal-based strategy used to start a difference in frameworks in an entity. It reviews and executes practices, frameworks, and procedures that influence hierarchical change. The objective of which is to adjust companies’ performance as well as culture. The OD is an essential and science-based process that assists associations with building their ability to change and accomplish more noteworthy viability by creating, improving, and supporting procedures, constructions, and cycles. The Organization development (OD) process is an action research model intended to comprehend known issues, put forth quantifiable objectives, execute changes, and analyze outcomes. This interaction will start when an issue is recognized. This framework can be utilized to make enhancements for any circumstance or issue that a business faces (McLean, 2005). Expansive arrangements of steps are effectively perceived and allow organizations to make changes trying to address issues rapidly. • Issue Identification • Situational Assessment • Activity Planning • Plan execution • Collection of Data, feedback • Evaluation • Team Building
An organizational structure is a system that frames how various exercises are directed to accomplish the organizational objectives and goals. These exercises may include responsibilities & roles along with the rules. It also determines how information and data flow between levels inside the organization, whether centralized from top to downflow or decentralized, where power is distributed between different levels. An in-place organizational structure permits organizations to stay focused and effective (Ahmady, 2016). A different type of org structure prevails in the corporate sector (Tolbert, 2015). • Hierarchical • Functional • Horizontal or Flat • Line, Line & staff structure • Matrix • Team-based • Project structure • Divisional org structures(Geographic, product, and market based)
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McLean (2005) book” organizational development” comprehensively explains what OD is, how the approaches and models developed, and how it contrasts with companies’ design. It takes a gander at how OD can be done and distinguishes the phases of the process.
Ahmady (2016) article supplies complete detail regarding the organizational structure.
This book provides the historical development of ideas and concerns underpinning contemporary organizational structure arguments. Chapters 2 and 3 discuss theory and research on formal structure and area of organizational studies (Tolbert,2015).
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3. Theme: HRM Employee Relations The Employment Relationship and Employee Rights at Work OB -Power & Politics
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1. Budd, J., 2020. The psychologisation of employment relations, alternative models of the employment relationship, and the OB turn.. Human Resource Management Journal, pp.73-83., (1)(30), pp. , pp.73-83..
2. Heery, E., 2016. Framing work: unitary, pluralist, and critical perspectives in the twenty-first century. Oxford University Press.
3. Zaleznik, A., n.d. Power and politics in organizational life (pp. 47-60).. s.l.:Harvard Busines School Publishing..
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The employment relationship is the connection between employees and employers through which people sell their labor. Irrespective of the situation, all employees and employers have fundamental interests they pursue through the employment relationship. It is the association among employers and employees through whom individuals sell their labor. Regardless of circumstance, all employers and employees have vital interests they seek through the employment relationship.
Employees, employers, states, markets, and contracts are the standard building block of the employment relationship. These general denominators make it conceivable to create a solitary conceptual basis for analyzing the employment relationship that applies to the generally diverse kinds of this relationship across industries, occupations, countries, and time (Budd, 2020). The UNITARIST employment relationship will generally see employees as psycho-legitimate as opposed to financial beings and is firmly connected with researchers in organizational, industrial psychology, HRM, and OB. Whereas the PLURALIST employment relationship rejects the neoliberal self-seeker point of view that workers are essential items; instead, employees are viewed as mind-boggling financial and psychological representatives that, as humans, are qualified for fundamental privileges like value and voice.
On the other hand, The CRITICAL employment Relationship is the final model. It is firmly connected with heterodox, extremist, financial aspects, and industrial relations. (Heery, 2016).
There is no single definition or conclusive detail of employees' rights. The International Labour Organization (ILO) recognizes what it calls “fundamental principles and rights at work" that all ILO Members commit to regard and promote, which are
• Workplace Safety and health • Freedom from harassment and discrimination • Effective nullification of child labour • Right to organize a fair pay
The United Nations Guiding Principles on Business and Human rights (UNGPs) feature the state's liability to have reasonable regulations set up to safeguard labourers’ freedoms give direction to organizations on what is generally anticipated, and guarantee sufficient implementation of these regulations.
Power & politics are two faces of the same coin that move parallel. Power refers to the ownership of authority and influence or impact over others. Power required to • Give instructions and directions. • To get quick assessment along with maintaining continuous contact with decision-makers. • Structure to associations. • Assist workers for better performance. • Articulate the objectives TYPES OF POWER •Legitimate •Expert •Reward •Coercive •Referent Organizational politics utilizes force and networking inside an association to accomplish changes that benefit the association or people inside it. (Zaleznik, 2015) Politics required to • To come into the spotlight and gain unjustifiable appreciation and consideration from the seniors. • To acquire benefits that are outside their ability to control. • Getting things done at the ideal opportunity. TYPES OF POLITICS • Blaming and attacking • Managing • Controlling info • Creating commitments • Forming alliances • Cultivating connections. |
This SAGE Handbook expands on the progress of the first by giving a completely refreshed and extended outline of the field of HRM & OB. The Handbook centers on acquainting the reader with the essentials of applied HRM while contextualizing practice inside more extensive hypothetical contemplations. Chapter 3 of Part 01, “Context of Human Resource Management,” critically described our THEME, the Employment Relationship, its essential elements and examination, and exhaustively managing significant arising interests(Budd,2020).
Heery (2016) book carefully examines the types of power and politics in organizational life. It gives complete detail on how it spreads positive and negative impacts on the organization’s objectives and business process. |
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4: Theme: HRM – Employee Relations –Employee Engagement OB - Communication
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1. Adu-Oppong, A.A. and Agyin-Birikorang, E., 2014. Communication in the workplace: Guidelines for improving effectiveness. Global journal of commerce & management perspective, 3(5), pp.208-213.
2. Lunenburg, F.C., 2010. Communication: The process, barriers, and improving effectiveness. Schooling, 1(1), pp.1-10.
3. Walker, S., 2012. Employee Engagement and Communication Research: Measurement, Strategy and Action.. s.l.:Kogan Page Publishers.
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Communication is an integral part of employee commitment, which thus advances better output, worker prosperity, and retention. Employees are bound to connect with and contribute when there is an open organizational culture. Better employee communication empowers employees to remain associated with their work and place of work, understand their organization's objectives, goals, and strategy, relate to the values, and foster a feeling of having a place by understanding how they add to its more extensive purpose.
Inside an organizational structure, numerous barriers emerge, and there has been a plan of particular measures and techniques for overcoming them; these are Emotional, Perceptual, Cultural, Language, and Physical barriers. The best and most effective method for controlling barriers to better organizational communication is framing an optimistic methodology inside the work environment. It is obligatory to foster consideration, good habits, courteous manners, and regard for one's attitude and approaches.
Academic culture, the flow of communication, and marital barriers could be physical barriers to compelling communication. Content barriers to viable communication are the non-decisive way of behaving, outrage or dissatisfaction, individual inclination, group diversity, improper needs, business structure, interruptions and interferences, and exclusive focus (Adu-Oppong, 2014).
A viable way to deal with inward communication will be durable and vital and support a trust culture and receptiveness. Effective communication:
• Fabricates a familiar feeling of direction adjusted to the organizational system. • Gets consideration and backing from pioneers. • Drives original dialogue. • Draws on a scope of digital channels and apparatuses. • Is crucial for great people management. • Relies upon being investigated and surveyed for adequacy (Lunenburg, 2010).
Better communication can gigantically lift worker engagement. Trust, uprightness, two-way responsibility, and communication amongst companies, employers, and employees depends on it. A methodology builds the possibilities of business achievement, adding to individual and companies' performance, usefulness, and prosperity (Walker, 2012).
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This article depicts changes in the organization's environment that have generated the requirement for a more strategic and more substantial employee communication function. It then emphasizes ways of getting sorted out a solid employee communications exertion through arranging and staffing. At last, it talks about ways of executing the right program for the current business environment (Adu-Oppong,2014).
Chapter 2, "Involving and communicating with employees," critically described our THEME that better communication can positively improve employees' engagement with the organization.
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5: Theme:: HRM – Managing Diversity & Equality OB - Perception
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1. Sharma, A. 2., 2016. Managing diversity and equality in the workplace. Cogent Business & Management, 3(1), p.1212682.
2. Loden, M., 1996. Implementing diversity. Chicago, IL: Irwin Professional.
3. Moore, S., 1999. Understanding and managing diversity among groups at work: key issues for organisational training and development. Journal of European industrial training.
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Diversity management and equality are two different terms. The equality is tied in with guaranteeing everyone has an equal opportunity and is not dealt with contrastingly or victimized on account of their attributes. It is related to open-minded, privileges-based, and settled incongruity of legal standards. It is equipped towards expanding the extent of minorities and females in senior objectives in the association.
Diversity is tied to assessing the distinctions among individuals and groups and putting a positive worth on those distinctions. Diversity management is a bit unique and is somewhat centered around an association initiative by which associations center around esteeming difference and non-discrimination and worries about respecting each person in the working environment no matter their gender and race among different variables (Sharma, 2016).
To understand or manage workplace diversity and equality • Make a fairness and incorporation culture. • Offer all staff appropriate diversity and inclusion training. • Distinguish and prevent oblivious biases. • Ensure compliance. • Be aware of indirect discrimination. • Equality and diversity in the hiring process.
Equality and diversity examples in the workplace
Male and female specialists do a similar job and get similar compensation. Physical disabilities do not confine the completion of a job. For example, somebody in a wheelchair likewise works as somebody sitting in a seat (Loden, 1996).
Types of diversity at work
• Age. • Ethnicity and Race • Religious • Income and Education • Abilities and Skills • Disability • Family and Upbringing • Cultural • Personality Types • Gender Identity and Expression • Sexual Orientation.
Employees can promote equality and diversity by discovering various societies, races, religions, and foundations associated address. Request coworkers to share a portion of the customs or traditions and practices related to their culture. Get comfortable with diversity-related terms and, on the off chance that you err, apologize and request help (Moore, 1999).
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The paper “Managing diversity and equality in the workplace ” comprehensively investigates the relationship of performance appraisals, sociocultural issues, and organizational capabilities in managing diversity and equality in the workplace (Sharma2016).
Loden (1996) book best shares the strategies and tactics used by organizations committed to implementing diversity from the top down.
The idea of diversity in this article is made sense of setting dependent, selective, and relative. The connections between diversity and performance are discussed, and the implications for diversity-supportive organizational development are explored (Moore,1999).
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6: Theme:HRM – Leadership & Management Development OB - Leadership
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1. Mumford, A. and Gold, J., 2004. Management development: Strategies for action. CIPD Publishing.
2. Sadler, P., 2003. Leadership. Kogan Page Publishers.
3. Lussier, R.N. and Achua, C.F., 2015. Leadership: Theory, application, & skill development. Cengage learning.
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Management comprises controlling a gathering of many elements to achieve an objective. Leadership alludes to a singular's capacity to impact, spur, and empower others to contribute toward organizational achievement—impact and motivation separate leaders from managers, not power and control. Management development is the systematic process of making successful or effective managers. Managers' essential capacity is to interpret initiative and investor targets (or make them on their own when they do not come from a higher place) into lawful and viable activities to accomplish those goals (Mumford, 2004).
The concept of Leadership is an integral part of an organization because leaders are the ones who make things happen. Without leaders, an organization would find it difficult to achieve its objectives and goals. A leader is characterized as an individual who impacts people and gatherings/groups inside an association, helps them in the foundation of objectives, and guides them toward accomplishing those objectives, subsequently permitting them to be effective. Leadership, then, is the capacity to impact a gathering toward accomplishing objectives. Trust is the Leadership's foundation. Leaders foster a trusting environment where the employees will generally layout a follower-ship with the leader (Lussier, 2015).
Qualities of leader: • Honest • Good role model • Good listener • Caring • Open • Committed • Treats people with respect • Risk-taker • Decision Maker • Positive, enthusiastic • Social Skills • Planner • Knowledge • Consistent • Transparent • Responsible • Sensitive • Accountable • Connected to the Community • Wisdom
Differences: Categories Transactional Transformational Leader’s source of power Rank, position Character, competence Follower reaction Compliance Commitment Time frame Short term Long term Rewards Pay, promotion Pride, self-esteem, etc. Supervision Important Less important Counseling focus Evaluation Development
Influential Leaders do not utilize a solitary style. They utilize a wide range of styles and make changes in light of the present circumstance. A significant yet frequently ignored possibility variable is national culture. Following are the new leadership approaches; • Transactional • Transformational
Transactional leaders center around remunerations in return for motivation, efficiency, and effective task achievement.
Transformational leaders emphasize influencing the attitudes and assumptions of staff. Building obligation to the mission and continuously attempting to accomplish organizational goals and objectives (Sadler, 2003).
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The book “Management Development; Strategies for action” is a fully revised and updated version of Alan Mumford’s well-known book. It consists of 12 chapters that logically cover the main features of most syllabuses for management development (Mumford,2004).
Sadler (2003) book “Leadership by Philip Sadler details why leadership is essential and how to recognize different leadership styles. Chapter.2, 3, and 5 critically define Leadership & Management, Leadership qualities, and styles.
The book “Leadership theory, Application & Skill development” is the most comprehensive and practical textbook on the market; leadership uses a unique three-pronged approach to teach leadership concepts and theory (Lussier, 2015).
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Reference list
Theme 1: Managing Diversity and Equality
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Sources: |
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Sharma, A. 2., (2016). Managing diversity and equality in the workplace. Cogent Business & Management, 3(1), p.1212682. https://www.tandfonline.com/doi/full/10.1080/23311975.2016.1212682 |
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Forbes., (2021). Managing Resistance To Diversity, Equity And Inclusion Workplace Initiatives [online]
Managing Resistance To Diversity, Equity And Inclusion Workplace Initiatives (forbes.com)
[access 13.05.22]
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Kirton, G. and Greene, A.M., 2021. The Dynamics of Managing Diversity and Inclusion: A Critical Approach. Routledge. https://doi.org/10.4324/9781003186397 |
Theme 2: HRM/OB and the External Environment
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Sources: |
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Wright, P.M. and Nishii, L.H. (2007), Strategic HRM and Organizational Behavior: Integrating Multiple Levels of Analysis, https://ecommons.cornell.edu/handle/1813/77351 |
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Griffin, R.W., Phillips, J.M. and Gully, S.M., (2016). Organizational behavior: Managing people and organizations. Cengage Learning.
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Suwandi, I. and Tahir, R., 2019. RETRACTION: Integration Between Voice and Silence in Human Resource Management (HRM) Perspective, A Literature Review. Finance, Accounting and Business Analysis (FABA), 1(2), pp.152-174. http://www.faba.bg/index.php/faba/article/view/21
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Them 3:
Them 4:
Them 5:
Them 6:
1) Do you think your team meets the definition of a self-managed team (Magpili & Pilar (2018, cited in Buchanan & Huczynski, 2019, pg.433)? If so, why? If not, why not?
This thesis advises that the self-management team is the person's communication on competence with colleagues in the workplace. It also revolves around making decisions that impact the business and managing time, producing self-skills. According to Self-Management Skills: Definition, Importance, Examples (2021), there are several characteristics of self-management, which are time management, organization, problem-solving, productivity, and how to communicate with others (Self-Management Skills: Definition & Examples - Video & Lesson Transcript | Study.com 2016). Thus, the team and I worked as a group, and we applied the use of self-management. Initially, when working individually, we perfectly used our time, and we did not miss the time to choose the two themes. After that, the topics were discussed with my group members. We were keen on making everyone in the group feel confident and discussing their knowledge among the group. Thus, we also focused on the weak points in the sources and themes to be suited for everyone.
On the other hand, the group faced a negative point at the beginning of the group work when no one knew each other. Furthermore, implementing a new structure with people with different opinions, personalities, and backgrounds is an obstacle to communication (Waters, 2021). However, it can be easily overcome by sharing those opinions among the group about the project.
3) How did your group reach the decisions as to what to themes and sources to include as part of the shortlist?
Initially, my colleagues and I agreed to present the Managing Diversity and Equality theme. However, we did not all agree on the second theme, organizational culture. To illustrate, I and Amanali (a group member) wanted to do "HRM/OB and external environment" as it has more sources and could be more enjoyable. Moreover, Griffin (2016) explained, HRM/OB and the external environment detail how behaviour within an organized environment can be examined and determine the impact on performance, work structure, motivational leadership, and an intense environment. Finally, after discussion and research, we all agreed on "HRM/OB environment and managing diversity.
Consequently, we divided the topics among ourselves, set a schedule to do our research within the time frame, and started to analyse the themes. My colleague Amanali and I chose the same source by chance because it is beneficial and explains the management of diversity and equality, which ensures that everyone has equal opportunities, an open mind, non-discrimination, and a culture of equity, as well respect for everyone in the work environment regardless of gender and race (Sharma,2016). collectively, the last statement proves that the two themes are linked together extensively.
4) How did your group use the time available?
Time has been taken as the main factor in the first place. Nevertheless, Sometimes the questions or arrangements seem confusing to the group. One of the main problems we face is dealing with confusing questions and applying them, which are the moments we spend extra time. As a result, we applied the time management theory, which states that managing time correctly to planning conscious control and reaching a goal assigned to the group or individual (Hałabuda,2022). So, our goal was to take the time to succeed and make the right decisions. Then, we tried to stick to the schedule and do the work on time to avoid wasting time. Thus, my group and I set a rule for us to switch off the internet to avoid distracting our focus and not interrupt group performance while working together because any interruption can lose our focus, and the small details would help us accomplish the agenda activities. Therefore, we focused on completing the tasks step by step and avoided putting irrelevant pieces of information to fill in the gaps. Furthermore, considering understanding, a question is solving the question that is our motive.
Consequently, the previous rules that we set for the group succeeded and increased our efficiency among ourselves. As a result, time management allowed us to resolve and discuss the questions in a series of ways without any complications and being rushed. All these actions were in our favor to decide on the two themes and sources to discuss them within the scope of time, so we worked with a limit to reach a goal, which is success to use the time on a proper track.
5) How did your group use the Consultancy Firm's ideas that shape their work?
Fuchs (2020) asserted that the consulting firm consists of several individuals specializing in professional advice, solutions, and guidance facing companies and how they can be dealt with internally. Moreover, the group should deal with the concept of the consulting firm in terms of self-confidence and taking the discussion seriously, not arrogance and affirmation of decision. Furthermore, showing humility and addressing any wrong decision is the way to help the group shine (Fuchs,2020). As a result, we tried to share our opinions and listen to each other. According to Fuchs (2020) we found that listening to each other thoughts really helped us find the problems and direct each other on the correct path. Moreover, gaining confidence is an excellent advantage of working with a group. Accordingly, the group presented an idea of showing value and discipline, which is necessary for the success of any participation and the development of the main characteristics that may benefit the agenda's activities. Therefore, we provide the consultant's work to companies quickly and between high harmony and high quality.
REFRENCES LIST:
Fuchs, J., (2020). What Is a Consulting Firm & What Does (or Can) It Do? [online]. HubSpot Blog | Marketing, Sales, Agency, and Customer Success Content. [Viewed 16 May 2022]. Available from: https://blog.hubspot.com/sales/what-is-a-consulting-firm
Griffin, R.W., Phillips, J.M. and Gully, S.M., (2016). Organizational behavior: Managing people and organizations. Cengage Learning.
Hałabuda, P., (2022). 8 Time Management Strategies for More Productive Work [online]. Teamdeck. [Viewed 16 May 2022]. Available from: https://teamdeck.io/project-management/time-management-strategies/
Self-Management Skills: Definition & Examples - Video & Lesson Transcript | Study.com [online]. (2016). Study.com. [Viewed 14 May 2022]. Available from: https://study.com/academy/lesson/self-management-skills-definition-examples.html
Self Management Skills: Definition, Importance, Examples [online]. (2021). Contract Jobs - Official Blog. [Viewed 14 May 2022]. Available from: https://www.contract-jobs.com/blog/self-management-skills/
Sharma, A. 2., 2016. Managing diversity and equality in the workplace. Cogent Business & Management, 3(1), p.1212682.
Waters, S., (2021). What Are Self-Managed Teams (and How Can You Create Them)? [online]. BetterUp: The People Experience Platform. [Viewed 14 May 2022]. Available from: https://www.betterup.com/blog/self-managed-teams
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