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Importance of decision making in leadership
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What makes a great manager? “Despite differences in their personal attributes, successful managers all excel in making, honoring, and remaking of commitments” (Sull, 2005). Commitments take many forms from capital investments to personal decisions to public statements. A mangers commitment defines what a business can and cannot do as well as the businesse’s strengths and weaknesses (Sull, 2005). However, while all good managers should be able to make, honor, and remake commitments the type of certifications, degrees, license, and experience the person will need in order to successfully do these things will depend on what type of business the manager is running (large, small, selling products, providing a service, and even if they are working with animals or on a farm). Earning the appropriate degrees, certifications and gaining the appropriate experience will allow a manager to make good decisions on their own as well as make commitments that will benefit the business in the long run and acknowledge what the positives and negatives are of every decision and what will happen if a commitment is not met. According to Sull, people in executive positions can easily forget how powerful commitments are and can become caught up in the present, “managers often take actions that while beneficial in the near term, impose lasting constraints on their operations and organizations” (Sull, 2005). For an equine business it is important that the manager understands how to handle horses, how to run an equine facility, and have basic business skills. However, specifically when it comes to running a horse boarding, training, and lesson barn the manager should also have a good knowledge of the discipline/ training style that the particular fac... ... middle of paper ... ...do and they are more than willing to help me. Finally, a key part of running a successful business is being able to evaluate how well your business is working and what can be improved upon by using the SWOT method. Works Cited Equine Legal Solutions Inc. "Equine Legal Solutions - Running A Boarding Business - What You Need To Know." Equine Legal Solutions - Running A Boarding Business - What You Need To Know. N.p., 2011. Web. 27 Mar. 2014. Hill, Terry, and Roy Westbrook. "SWOT Analysis: It's Time for a Product Recall." Long Rang Planning 30.1 (1997): 46-52. ScienceDirect. Web. 27 Mar. 2014. . Magner, D. The Horse Encyclopedia. Toronto: Coles, 1981. Print. Sull, Donald N., and Donald N. Sull. Why Good Companies Go Bad and How Great Managers Remake Them. Boston, MA: Harvard Business School, 2005. Print.
A SWOT Analysis can be powerful to any company. The SWOT analysis for PetSmart allows them to expose opportunities that otherwise could be missed ("SWOT Analysis," n.d.). An additional benefit of a PetSmart SWOT analysis is gives the company an understanding of their weaknesses, which can result in a competitive edge for its competitor. Understanding strengths, weaknesses, opportunities, and threat as a company will give PetSmart an advantage over a company who chooses to ignore this type of analysis. In addition, PetSmart can eradicate any possible threats that could catch them off guard ("SWOT Analysis," n.d.).
Good to Great by Jim Collins is a book which illustrates an answer for the question whether a good company can turn into a great company. In this book, Jim Collins suggests the ways by which companies can outperform the market leaders. The author has certain list of companies like Abbot lab, Circuit city, Fannie Mae,Gillette,Kimberly Clarak,Kroger,Nucor steel, Philip Morris,Pitney Bowes,Walgreens and Wells Fargo. According to author good is the enemy of great and thatis why have little companies which are great. The author says that the transformation from good to great does no just happen. It needs to be built through process which with three broad stages. Jim Collins suggest some components in a company to have it achieve great levels
The Effective Manager: Perspective and Illustrations. Ed. Jon Billsberry. Thousand Oaks, CA: SAGE Publications: 287-294.
A SWOT analysis is an examination of an organization’s internal strengths and weaknesses, its opportunities for growth and improvement, and the threats the external environment presents to its survival (Harrison, 2010). Generally, the information gathered for the analysis is organized into matrix form, howe...
Managers nowadays do not actually do what a manager really should do back in the eighties. Changes that occurred in the new economy, the increasing use of technology in business, and the effects of globalisation towards business world have led management into a whole new dimension. New managers are expected to be able to manage on an international scale, act strategically, utilize technology, establish values, and of course, act responsibly as well. (Crainer, 1998) Henry Mintzberg once asked, "What do managers do?" After conducting his research based on a study of five CEOs, he concluded that managerial work involves interpersonal role, decisional role and informational role. And the fact is that, managers get things done through other people. Therefore, managers are required to possess certain skills and competencies which allow them to play these roles effectively and efficiently throughout the four functions of management. (Mintzberg, 1998)
. SWOT analysis is used for companies to analyze their strengths, weaknesses, opportunities, and threats. This information can give some insight to improve internal weak areas and build on strong ones. External opportunities and threats will also be analyzed and potential strategic decisions can be made according to these results. This paper will produce a comprehensive SWOT analysis for our organization which will then be implemented in the overall strategic plan.
Management is a very tough job in today’s world of ambiguity, uncertainty, stiff competition and threatening environment. You have to be mentally and physically very strong to cope up the challenges posed by the current business environment. Following are the most important management skills and qualities needed for a successful manager.
To transform a good company to great company is all manages’ dream, but only few of them make it. To find out the core factors which lead to a good company became a great company is very difficult, because in different era, different industry companies face different opportunities and threats. To begin the research for the Good-to-Great study, Jim Collins and his research team searched for companies that: performed at or below the general stock market for at least fifteen years; then at a transition point began to pull away from the competition, and sustained returns of at least 3 times the general market for the next fifteen years. He started with a list of 1,435 companies and found eleven that met his criteria. These eleven companies produced, on average, a return of 6.9 times the general stock market during the 15 years following the transition points. Collins chose a 15-year span to avoid "one-hit wonders" and lucky breaks. In the book, Collins highlights some important factors which are the result of the research. They are level 5 leadership, fist who … then what, confront the brutal facts, the hedgehog concept, culture of discipline, and technology accelerators, (Collins, 2001, p.12).
“The important word there is inspire. The key difference between managers and leaders is that managers tell people what to do, while leaders inspire them to do it. Inspiration comes from three things: clarity of one’s vision, courage of their conviction and the ability to effectively communicate both of those things”
An organisation is a deliberate arrangement of team consisting different personal identities to accomplish some specific goals and managers are the ones who hold the responsibility of mastering and placing them together to strive for that purpose (Robbins, Bergman, Stagg, and Coulter, 2008). Robbins et al. (2008) have stated that managers are people who coordinate and oversee the work activities of others so that the goal is accomplished effectively and efficiently. Managers usually possess qualities such as having strong communication skills, flexibility, imagination, enthusiasm, problem solving skills, and of course the desire to be a great leader (Phdinmanagement.org, 2014). The structure of management conducted by a manager is often influenced by the four functions introduced by Henri Fayol (planning, organising, leading, controlling); how Henry Mintzberg’s management roles play in the organisation and also the three essentials management skills proposed by Robert L. Katz (Robbins et al., 2008).
Management is not just about making decisions, watching over employees, and bossing others around. Good management results in satisfied customers, who provide better customer service. In order for new managers to be successful, they need to have good communication, human skills, and the ability to motivate others. The ability to do these skills effectively makes a big difference to a manager and the company’s overall success. Companies depend on managers to fulfill their skills and knowledge to help their company excel.
In order to answer the issue precisely, relevant terms have to be defined first. Manager can be defined as a person who control resources to achieve a specific task (Ibrahim and Cordes, 1996). There is another word which could be confusing with manager - leader. Leader means a person who inspire and motivate people to achieve a goal (Nanus, 1989). In other words, managers are people who exercise managerial skills to get things done, while leaders are people who make use of leadership to do the same. These two words sometimes seem to be used interchangeably although their meaning are totally different. Moving on to the major key word, good managers are defined as managers who not only equipped with managerial skills, but also leadership (Ibrahim and Cordes, 1996). Both management and leadership cannot be totally separated since each part needs to play its role and contribute to each another (Gosling & Mintzberg, 2003).
Successful business leaders have stressed that good management skills, whether in a large corporation or in a one-person business, are vital to the success of a business. Many small business people may be good at launching their venture, but weak in managing the development and later stages of the business. DIFFERENCES AND SIMILARITIES BETWEEN A MANAGER AND A LEADER Leadership is just one of the many assets a successful manager must possess. Care must be taken in distinguishing between the two concepts. The main aim of a manager is to maximise the output of the organisation through administrative implementation.
SWOT analysis is good for analyzing an company and also it is a tool for auditing an company and its environment. This analysis will give a cross section of the company. It is the first stage of planning and helps marketers to focus on key issues.
Hayleys uses SWOT analysis to help it reach its objectives. SWOT analysis is a strategic planning tool. It helps the business to focus on key issues. This is the first step of planning and looks at the strengths, weaknesses, opportunities and threats involved in a business venture.