Study the following document: Methods for Managing Differences. Assume this communication strategy has been recommended by your employer for mediation when working with potential and existing business

Fundamentals of Management Discussion

Lisa Anderson

Professor Cathy Johnson

Colorado Technical University

General business Application in a Global Environment

July 9th 2019

Fundamentals of Management

The success of a business organization on both local and global markets requires effective leadership and management. Global markets are wider markets that require a competent and determined manager who can ensure each and every aspect of business operations is put in place. For instance, global operations incorporate several operation factors that determine the success of the firm such as the culture of the potential market and ethical concerns among other issues. This, therefore, calls for effective management in place for better performance (Samson, 2018). Review of the case scenario reveals four fundamentals of management which are essential in business operations. They, however, include planning, leading, organizing and controlling. These components play key roles in attainment of organizational goals and objectives in a more efficient and effective manner.

Planning: This is where the organization management is more concerned with defining the goal and objective of the organization for future performance. It involves deciding on the required resources to achieve the goals that have been set with the organization. A company deciding to invest globally may be due to several factors such as maximizing on sales for higher profits, increasing the economies of scale and also utilizing the investment gap opportunity. Planning, in this case, is essential as it helps in the allocation of the necessary resources such as funds, machinery and even personnel towards achieving these objectives (DeCenzo, et al. 2016). The process of planning is basically a decision-making process to determine a suitable cause of action.

Organizing: This is a procedure where the set plans are moved closer to realization. For example, once goals and objectives have been set by the manager, organization of human and other available resources is the next critical managerial function. The organization function of the management is concerned with assigning tasks to people, groups, and departments together with resource allocation for effective performance. In a global market structure a manager may decide who will perform a certain task and from where and the necessary resources required thus the process generally involves coordination of activities and resources.

Leading: effective leadership is achieved with a good leader who is able to influence people or a group of people towards a certain positive direction. Leading involves influencing people to works towards the interest of the organization. There are several objectives that need to be achieved when an organization expands to global markets. Leadership is a key element in achieving such objectives. A leader will influence and impact all organizational stakeholders in different capacities to work towards achieving the same goals for the interest of the organization. The process of leading may include managing, motivating and also guiding or influencing people towards a positive direction that is beneficial to the organization.

Controlling: The management should ensure each and every organizational department is up to date through monitoring and evaluation of activities undertaken. This is simply motoring the progress of activities of a business organization in this case in global operations towards goal fulfillment. Perhaps the process includes such activities as measuring organizational performance making comparisons to establish deviations and correcting the evident deviation to enhance the performance for achieving the set goals and objectives (Kerzner, 2017). Some of the activities that can be monitored on the global economy may include the measure of budget expenses and records inspection to ascertain the difference that exists with the set goals. Generally, the four fundamentals are key to the performance of an organization since they determine the level at which an organization can achieve the set goals and objectives throughout its operations.

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.