Principles Of Management By Tripathi And Reddy Pdf Free 35
Christal Rasband
This case study is based on a hypothetical scenario in the corporate world. Different incidents in a fictitious automobile manufacturing firm are presented and the corresponding principles given by Henri Fayol are inferred.
This case study highlights that decision-making gets complicated if fundamental principles of management are not complied with. The decision taken during each and every situation which has been discussed in this case study is contrary to the correct course of action as propounded by Fayol. Modern-day managers must acknowledge the relevance and importance of these principles for achieving success in business.
This case study underscores that even in this volatile business environment where most of the management practices are technology-driven, we cannot disregard the most elementary rules of management. The managers working at different levels in the organizational hierarchy may be guided to make the right decisions in situations similar to the ones described.
After a few months at Maxima, Ravi started experiencing real-life challenges in business. Now, he was sure that the practical business scenario was very different from the concepts and theories learnt in the classroom. Until he was working as a subordinate in the organization that did not cause any major complications; but the unsavory incidents after his promotion as a manager tested his managerial skills. He started making decisions on his own sidelining the management basics that he had studied earlier. This proved to be a turning point in his professional journey. After climbing up the organizational hierarchy to the position of General Manager (Marketing), the series of events which unfolded at Maxima Motors was a testimony of how wrong decisions could be detrimental to the harmonious work culture in the organization. Ravi wondered whether adhering to the 14 principles of management which were proposed by Henri Fayol many years back and taught to him by Prof. Satyajit Malik during his MBA could have helped him in making the right decisions at Maxima Motors.
The first section of the report outlines the significance of management in an organizations success. The second part outlines an analysis of various management concepts. Some of the elements evaluated include the managerial functions of planning, controlling, and organizing.
The contribution of leadership, ethical behavior, and social responsibility to organizational success are also evaluated. Moreover, the importance of effective team management and communication in the organization are analyzed.
Some of these principles relate to planning, organizing controlling, team management, communication, social responsibility, ethical behavior, and leadership. IBM ranks amongst the global market leaders in the information technology industry.
This paper evaluates how IBM has integrated management. The analysis is conducted with reference to planning, organizing controlling, team management, communication, social responsibility, ethical behavior, and leadership.
Planning entails different aspects, which include formulating business objectives, determining the action to be undertaken and methods to be used in order to attain the pre-determined objectives, deciding on who will undertake the tasks, and how the results will be evaluated.
The intensity of competition in the global information technology industry requires firms in the industry to be effective and efficient with regard to planning. IBM has formulated a number of policies that it follows in the process of executing its planning function.
Succeeding in the business environment requires firms to ensure that their operations are in conformity with the set principles, procedures, and plans, which can only be achieved if optimal control procedures are implemented.
In an effort to remain competitive, IBM has formulated a policy whereby employees are required to achieve predetermined targets within a particular period by developing a balanced scorecard that comprises specific key indicators.
Through controlling, IBM determines whether the employees are focused at their jobs. Comparing the set targets against the actual employee performance gives IBM insight on the action to take in order to ensure that the employees meet the set standards.
The relationship is developed by assigning responsibilities and instituting a form of authority. The employees get specific responsibilities from the corresponding authority to execute the task. IBM has a well-developed organizational structure that comprises a number of departments.
Leadership is vital in the operation and performance of organizations. Tripathi and Reddy (2008) define leadership to include the process through which organizational managers determine how they will impress the subordinates.
Firms and individuals are investing in research and development in an effort to develop products that will address the existing market needs. In a bid to thrive in such an environment, it is critical for firms to implement the necessary changes.
Consequently, it is capable of identifying potential business opportunities from the complex business situations. In a bid to exploit such situations, IBM values employees who are creative, imaginative, and innovative.
Its choice of such employees hinges on the need to engage in continuous product development and improvement. However, this goal is only achievable if employees get an opportunity to exercise their ideas. Thus, IBM has adopted transformational leadership style.
The leadership style adopted increases the degree of congruence between employees and the professed organizational values. A high degree of fit between employees and the organizational values influences the level of employee satisfaction.
Thus, nurturing effective leadership enables organizations to build mutual trust, hence increasing cooperation and information sharing amongst employees, which culminates in improved organizational performance.
According to Harrington (2006), communication is the most important element in human resource management. Through communication, an organization is able to improve the level of transparency and cooperation amongst employees.
The five-way system is also known as the star communication system and is the most effective. The five-way system entails communication in five main directions, which include up, sideways, down, the customers, and suppliers. IBM has adopted the five-way communication system.
In addition to communication, teamwork is another important aspect in the operation of an organization. Currently, organizations are increasingly adopting teamwork in an effort to enhance their competitiveness. An organization can accrue a number of benefits through teamwork.
First, a firm can improve the scope of work undertaken by employees on a daily basis. Through teamwork, employees share their talents and skills with their team members hence increasing the likelihood of attaining high performance.
Secondly, teamwork contributes towards development of a strong workforce, as employees from different ethnicities and backgrounds can interact and work together. Such interaction improves the likelihood of an organization developing a strong organizational culture.
In pursuit for high competitive advantage, organizations are increasingly adopting the concept of projects. The projects are designed to achieve a specific goal. For example, IBM invests in projects aimed at developing new information communication technologies.
However, the success of such projects depends on the quality of teamwork implemented. Teamwork promotes organizational performance by providing organizations with an opportunity to develop a strong human capital.
Currently, organizations can hire employees from different regions irrespective of physical distance due to the high rate of technological development, which has led to the emergence of virtual teams.
Bose (2002) defines corporate social responsibility to include how organizations manage their operations in order to influence the society in which they operate. Corporate social responsibility is based on three main pillars, which include social, environmental, and economic actions. IBM has benefited in a number of ways by investing in corporate social responsibility.
Secondly, the firm has implemented an effective customer service policy. Thus, IBM has developed a high level of customer satisfaction. Consequently, IBM has managed to develop a strong customer base hence increasing its sales revenue and profit.
Similarly, the firm ensures that its employees are treated well. IBM has integrated a comprehensive employee reward system that comprises both financial and non-financial benefits. Secondly, the firm does not discriminate employees based on any demographic variable.
The firm operates in a manner that does not affect the society negatively. For example, the firm ensures that its operations do not contribute to environmental pollution. Consequently, its public image has improved significantly.
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