individual project wk5

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BUSINESS MANAGEMENT IN GLOBAL ENVIRONMENT 2

Lisa Anderson

Professor Cathy Johnson

The success of a business is determined by effective leadership and management. A company that operates globally is faced with a broader market that requires a leader who is competent to ensure everything in the business fit international standards (Samson, 2018). Global operations put into consideration of some factor such as culture and ethical concerns, and they determine the success of the business. Form the review of scenario four fundamental of management were found essential to business operation, they include, leading, planning, controlling, and organizing.

Leading: leadership affect determines the success of the firm. Effective leadership in the firm is achieved with a capable leader who has the ability to influence people in a specific direction. Leading involves people pushing people to work toward a particular goal in the firm. With the global market, there is a lot that needs to be achieved. Thus a firm will need a leader who will be able to make employee remain focused on the primary goal. The process of managing includes guiding or influencing employees toward positive managing as well as motivating employees.

Planning: this a process where the management of the firm is concerned with establishing the goal and objective or the firm for future operation. This involves the process of sourcing the required resources that will be used to achieve the firm's objectives (DeCenzo et al., 2016). The company operating globally need to consider several factors and focus on some areas such as maximizing sale to increase profit, utilize the existing investment gap, and increase the economies of scale in all operation. In this case, planning is essential as it helps in the allocation of resources and allocation of duties to employee.

Organizing: this a process where resources and personnel are set for operations. Once the firm’s objections are achieved, then the manager ensures that human and other resources are available for use. Under the global market, the process of operation is more complicated as it requires to keep analysis of the entire market.

Controlling: this a process which management monitors and evaluate activities that are being undertaken. The manager keeps om checking whether the operation is in line with the firm objective. (Kerzner, 2017) Business operating globally, it will be required to establish an effective communication program to allow access to the operator in the market. Controlling will also help the firm to ensure operate within its budget.

References

DeCenzo, D. A., Robbins, S. P., & Verhulst, S. L. (2016). Fundamentals of Human Resource Management, Binder Ready Version. John Wiley & Sons.

Kerzner, H. (2017). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.

Samson, D., Donnet, T., & Daft, R. (2018). Fundamentals of Management [6th Asia-Pacific Edition]. Cengage.