The Environment of Management
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The document discusses various aspects of corporate management, including the external and internal environments affecting organizations, such as technological, economic, and sociocultural factors. It also examines corporate culture types, management stages in a global environment, ethical frameworks for decision-making, and the growth stages of small businesses. Additionally, it outlines the processes involved in launching and managing a small business effectively.
The Environment of Management
- 1. THE ENVIRONMENT OF MANAGEMENT
- 2. CORPORATE CULTURE AND THE ENVIRONMENT External environment
- 3. Technological – tools that make business be more effective to increase the production Natural – sensitivity towards earth’s diminishing natural resources and the environment impact of the products and business practices Sociocultural – demographic characteristics like norm, customs, and values of general population Economics – general economic health like consumer purchasing power, the unemployment and interest rates of particular country or region Legal/politic –political activities designed to influence company behaviour affected by government regulation International - huge competitive in dealing with others countries legal, political, sociocultural and economic factors General environment
- 4. Customers – people and organizations in the environment that acquire goods or services from that particular organization. Competitors – other organizations in the same industry that provide goods or services to the same set of consumers Suppliers – provide the raw materials to the organization use to produce its product Labour market – people who can be hired to work for the organization Task environment
- 5. CORPORATE CULTURE AND THE ENVIRONMENT Internal environment
- 6. Symbols – object, act, or event that conveys the meaning to others and interaction with the environment Heroes – role model for employees to follow and attributes of a strong culture Stories – symbolized the firm’s vision and value, make employees personalized and absorb it. Slogans – sentence that succinctly express a key corporate value and reflected the organization’s image Ceremonies – activity at a special event that can benefits and giving appreciation to the employees
- 7. CORPORATE CULTURE AND THE ENVIRONMENT types of culture
- 8. Adaptability culture – manager requires fast response and high-risk decision making by encourage and rewarding creativity, experimentation and risk-taking Achievement culture – values of competitiveness, aggressiveness, personal initiative, and willingness to work long and hard to achieve results Involvement culture – acknowledge employee needs, the organization can create caring and family-like environment Consistency culture – following the rules, giving period to complete a certain task will drive workers to finish on time and on budget Type of culture
- 9. MANAGING IN A GLOBAL ENVIRONMENT borderless world
- 10. Domestic stage – limited market potential only at home country, with all production and marketing facilities located at home International stage – product design, marketing, advertising are adapted to the specific needs of each country, requires a high level of sensitivity to local values and interests Multinational stage – delivering a similar product to multiples country. The marketing and production facilities located in many countries. Global – make sales and acquiring resources in whatever country offers the best opportunities and lowest costs Borderless world
- 11. MANAGING IN A GLOBAL ENVIRONMENT economic environment
- 12. Economic environment Resource and product markets Economic interdependence
- 13. MANAGING IN A GLOBAL ENVIRONMENT sociocultural environment
- 14. Social value Communication differences Other culture characteristics Developing culture intelligence
- 15. ETHICS AND SOCIAL RESPONSIBILITY Definition
- 16. - Ethic is the code of moral principles and values that governs the behaviours of a person or group with respect to what is right or wrong. An ethic issue is present in a situation when the actions of a person or organizations may harm or benefit others. - Managers are the role models. The most important ways mangers create ethical and socially responsible organizations is by practicing ethical leadership. However, unethical managers seek to serve their own needs and interests at the expense of stockholders. ethics and social responsibility
- 17. ETHICS AND SOCIAL RESPONSIBILITY ethical decision making
- 18. Utilitarian approach – produce the greatest good for the greatest number Individualism approach – promote the individual’s best long-term interests Moral right approach – avoid to interfering other’s privacy Justice approach – decisions must base on standard equity, fairness and impartially Virtue ethics approach – develops good character traits leading to be a virtuous person Practical approach – right or good and based decision on prevailing standards of the large society ethical decision making
- 19. SMALL BUSINESS START-UPS definition
- 20. Small businesses are determined as one that is independently owned and operated, is organized for profit and is not dominant in its field of operation. The small businesses generally proceed through five stages of growth which are start-up, survival, success, take off and resources maturity definition
- 21. SMALL BUSINESS START-UPS launching an entrepreneurial start-up
- 22. • Starting with an idea • Writing the business plan • Choosing a legal structure • Arranging financing • Tactics for becoming a business owner • Starting online business launching an entrepreneurial start-up
- 23. SMALL BUSINESS START-UPS managing a growing business
- 24. Stage of growth – start-up, survival, success, take off, resources maturity Planning – define goal and decide on the task and use the of resources needed Organizing – separate tasks according the departments Leading – motivate others to perform well Controlling – implement structured control system, control the limited resources managing a growing business