The first reason that explains why a firm is more successful than others is having a good Top Management Team. In Autumn 2012, BBUS 300 Management of Organization taught me how important the Top Management Team (TMT) is in the organization. TMT plays important roles in maintaining leadership, creating new strategy, and implement the tragedy. I have learned that maintaining leadership is how TMT manage human resources, motivate employees, and ensure them stick to assigned task reaching to the firm’s goal. Without a knowledgeable TMT in order to lead the firms, they are just a mess. Employees would do whatever they want in any directions and slack of responsibility for assigned tasks. Many firms have experienced strike of managing employees just because TMT does not know how to lead employees to engage to the tasks, and probably TMT is horrible managers. Many managers misunderstand about leadership as dictatorship. More likely, they think about leadership is about yelling at employees and ordering employees to do tasks. They don 't know that the leadership needs the TMT and employees work together. They want the employees listen to them and never want to listen to employees. A good TMT means enforcing leadership, listening to employees, motivating them, ensuring them stick to the task, and communicate with them. Thus, TMT wi...
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...ly-environment image and product. Of course, once the firms hit right customer demand, the firms gain more market share and generate more profit. It is very vital for the firms to adopt sustainable business model to protect environment, which contributes to the firms’ success over others.
In conclusion, Top Management Team, Finance Department, and Accounting Department need to be consistence to each other. Top Management Team makes decision in order to lead the company in same direction reaching to the firms’ goal. Finance Department ensures a good financial condition for the firms. Accounting Department keeps track on accounts and prepare accurate financial statements. Additionally, adopting sustainable business is also a good way attract more customers and differentiate to other firms. I believe these factors explain why some firms are more successful than others.
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