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I need some assistance with these assignment. effective management roles Thank you in advance for the help!
I need some assistance with these assignment. effective management roles Thank you in advance for the help! DynaLab is a manufacturer of cleaning supplies, is quoted on the Stock Exchange, and is a £ 150 million a year company. It has been in business for several decades now and is respected both in the market and the bourse. It has commenced International Marketing and faces competition from a much larger rival, Unilever.
Its current Managing Director (MD), Alan Smith, has been elevated to this position at age 60 after forty years of service at various positions. During his tenure the company has risen to new heights, the stock prices have appreciated to four times their previous levels and profits have soared by 50%. This has been largely due to new innovative products and robust marketing practices.
Despite being the market leader in the UK the MD is worried by the close competition offered by arch-rival Unilever. He also worries about a takeover attempt. Some time back the company had made an acquisition which turned out to be a mistake and heavy loss were suffered in its eventual disposal. As they are contemplating another acquisition the same fears are causing concerns. For these reasons, the company is reviewing its managerial skills for possible improvements.
Earlier management’s function was to be a guide and mentor, a role reserved for those who had put in their best years and were now required to generally oversee the operations and to formulate strategies to be carried out by subordinates. Now management is required to be hands-on, a term referring to the day to day involvement in the affairs of the company. This not only brings the management and the executive functionaries closer but is used as a continuous evaluation process. The objective is to create a more congenial environment, a close relationship between all the functionaries, promote teamwork and to enable quick decisions for solving problems or removing bottlenecks.
