Question 1
Management involves organizing people to enhance amicable communication in an organization. Effective management of enterprises demands managers to have knowledge of the people working for them to motivate them to work harder. Workplace diversity encompasses the variety of differences often found in an organization including gender, race, personality, ethnicity, age, personality and education among other differences (Esty et al., 1995). Organizations realize various benefits when they are able to manage diversity issues amicably. Initially, diverse experiences and skills enable a company to offer a wide range of globally diverse services to different customers. Organizations that employ a diverse workforce are similarly able to address various problems related to resource allocation, sourcing and service that are flexible to the customer and market demands that keep on fluctuating. Employees are also motivated to perform better since all their viewpoints are considered in decision-making. Diversity in the workplace also reduces lawsuits and increases recruitment, marketing opportunities, business image and creativity (Esty et al., 1995).
Question 2
Social responsibility is the ethical imperative of business firms. Social responsibility is the moral obligation that companies pursue to meet the needs of the society. For example, health insurance companies can choose to offer their services and packages to the society at affordable rates not to make economic sense, but to improve the health of the society (Stephen et al., 2012). Social obligation of a company enables it to meet its legal and economic obligations. If a finance company meets it social obligation, it pursues its social goals to contribute to its economic goals. The capacity of an organization to adapt to changes in the society is its social responsiveness. For instance, when a business research company is socially responsible, it emphasizes democracy in satisfying its need for social egalitarianism. These norms are important in decision-making, and they mainly result to adoption of healthy strategies.
Question 3
Organizational change in a company occurs when the organization restructures its resources to increase its ability to improve effectiveness and to create value. There are four types of organizational change. Structural changes affect how the company runs from its traditional top down hierarchy. The implementation of a new computer system in a company is an example of structural change or for instance a change in the organization of authority in that company. Strategic changes are transformative and are because of a company’s attempt to adapt to external forces influencing it and include major adjustments in operations. Changes in the target market and long-term partnerships in a company are examples of strategic changes. People changes involve a change in employees and executives of a company. It is usually planed or unplanned and aimed at changing the cultural composition of a company. Improvements in a company’s efficiency, workflow and productivity involve process changes (Stephen et al., 2012). Implementations in the technological and mechanization techniques of a company are examples of process changes. These changes often contribute to the success of a company.
Question 4
I support Marsha Forest who believes in the significance of planning in facilitating the operations of the company. The current volatile environment, the White Forest Financials is operating on is unhealthy for its growth and success. Although the business environment for the firm constantly shifts and planning seems futile, planning is necessary for organization and management purposes and helps to guide the firms operations. Planning will help keep the attention of the company on the importance of achieving its greater goals and objectives. The company’s risks, uncertainty and changing environment will similarly be reduced through proper planning and management (Stephen et al., 2012). Planning will also be essential to give the firm a sense of direction and help in decision-making and coordination.
Question 5
Recently, I was faced with the tough decision of choosing between a new job I had applied for and my long term job I had grown to love over the years. My decision to take the new job was based on a variety of views I got while trying to weigh each job. I had asked my colleagues at work and close friends and did internet research. Decisions should be sound, rational and conscious to be effective. Decision-making is important in management as it helps to choose the appropriate action to take from the available options which enhance the development of a strategic conclusion (Stephen et al., 2012). In the future, I intend to apply the critical steps of decision making that involve defining and analyzing the problem, developing alternative solutions and selecting one from the list then converting the choice into the action and following up to make sure the decision is sound, valid and effective.
Question 6
The SMART goal concept is a widely accepted and a proven tool for effective management of businesses. The SMART goals are used to manage business processes, workloads and even personal life. My goal setting procedure is often parallel to SMART goals, and it involves defining the goal and writing it down to ensure that I can constantly remember its importance. Different businesses benefit from SMART goals since the help define specific goals that are attainable and easier to track. Time limits help to motivate businesses to reach the achievement points and remain on track (Stephen et al., 2012). Goal setting is also significant in personal life. This means applying the concept of SMART goals in my daily life will assist me to achieve the self-development goals and motivate me to grow further.
Question 7
In the finance company in Washington DC where I work, the firm operates on a functional organizational structure. The management teams are divided into departments of marketing research, business sales and development and lastly product management where I am best fitted. Departments operate under heads who are the directors, associates, managers and the clerical people. It is an effective structure that makes sure that work is divided based on expertise and field exposure. As a result, there is better management and efficiency from shared skills. However, the structure compromises the goals of the company by the departmental goals because of the operational basis and this affects the overall objectives of the firm (Stephen et al., 2012). The firm can integrate the hybrid matrix organizational structure to be more effective since it encourages managers from different functional departments to work together to research and develop new products.
Question 8
Gender discrimination in businesses is a serious issue in the country. Regulations and laws that advocate for equal opportunities between men and women have advocated for equal pay but to no avail. This is injustice and inequality and it goes against the employment rights of working citizens. Expectation management is important in managing the benefits and compensation programs for employees. The communication and feedback are important in any company because they enhance successful execution of business’s procedures. If assigned the role, I will design a fair, effective and equitable compensation system that will align the expectations of women with the organization results. This will involve managing a formal contract that will define the benefits, salaries and the terms and conditions of the employment (Stephen et al., 2012). The pay policy will be competitive and will have a clear linkage with the financial performance of companies. It will be determined by hours of work, risks from job performance and task execution and will enhance fairness and transparency in pay decisions.
References
Esty, K., Richard G., & Marcie Schorr-Hirsh (1995). Workplace diversity. A manager’s
Guide to solving problems and turning diversity into a competitive advantage. Avon, MA: Adams Media Corporation.
Stephen, P. R & Mary, C. (2012). Management (11th. ed). Upper Saddle River:
Pearson/Prentice Hall.NJ 0745.
