1. Introduction Management is the process of getting things done through people as defined by Mary Parker (1941). Henri Fayol (1916) identified the elements of management which are to forecast and plan, organise, command, coordinate and control. The key objective of this report was to interview two different managers to examine the extent to which the career paths of these...
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The Professional Manager Section 1 Tesco is multinational operating grocery and general merchandise retailer in the UK, which was established in 1919 by Jack Cohen. It’s headquartered in Cheshunt United Kingdom, it’s the third-largest retailer in the world. Tesco has stores in 14 countries across Asia, Europe, and North America, they operate about 7000 stores around the world. In UK,...
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Executive summary. This report tends to analyse General Motors, one of the most important automotive company of the past century, from 1980 to 2010. This essay demonstrates, analyse and understand the important changes that took place at General motors during the financial crisis of 2008 and tends to explain their nature and impacts on the company and its stakeholders. To...
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Section A: Importance of accounting information in managerial tasks Planning- accounting information helps in business planning for long term and short term. It helps to make plan before business operation. Previous accounting information tells that where and how they can improve it in the future. Budget- Business managers often use accounting information to make budget for the company. They can...
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If change equals growth, then we will always want our company to be changing and thus growing. As the project manager of a new initiative in our company, I am proposing that we are in need of a change manager. If the company will choose to invest upfront in a change manager there will be many benefits in the long...
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Servant leadership and followership play a big fundamental factor in the Army’s structure today. They both coincide with one another in the process of leadership development. It is almost impossible to have one without the other. They both consist of many of the same traits, but some key similarities are trust, respect, and adaptability. Even though they both are compelled...
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The person who applies science, mathematics, economics, social and practical knowledge to, design, manufacture and maintain buildings, materials, machines, chemicals, electronic devices, software and etc can be called as Engineers. Engineering which is a branch of science; always cares about the applications. So hazards are very common in this engineering field. Each engineering fields has different types of hazards. Many...
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The footprints of effectual, efficacious leaders have always marked history. The Royal Air Force itself was founded on the vision of two notable 20th century leaders, Jan Smuts and David Henderson; both of whom imagined a force capable of exploiting the full range of possibilities of an aerial realm to ensure the fulfilment of objectives. Yet with the growing prominence...
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Introduction In the contemporary business landscape, characterized by rapid technological advancements and escalating data generation, the concept of big data has emerged as a cornerstone for strategic decision-making, particularly in risk management. Big data refers to the vast volumes of structured and unstructured data that inundate businesses daily. The relevance of big data in risk management stems from its potential...
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The study identified change management practice factors and evaluated its influence on the growth of private business in Nigeria. These were with a view to provide information for management policy makers on change management best practice to achieve needed expansion and contribute to the country’s economic growth. The method of data collection was questionnaire to elicit information on change management...
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All over the world, companies have to face new challenges, opportunities and risks because of globalization, intense competition, new technology improvement and market structures changes. As financial institutions before, non-financial corporations have just realized that risk management is becoming essential and be part of the good financial health of firms. Non-financial corporations core business involves the production of goods and...
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Monte Carlo simulation is a method used to estimate risk involved in the occurrence of an event. Ideally one will be presented with several alternatives to perform certain task, and by the use of Monte Carlo simulation informed decision can be made choosing the correct or the most convenient course of actions. The mechanism of Monte Carl simulation is a...
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Preparing for the worst is essential to running a successful food business. Before anyone can open the doors to a new business, it is imperative to reduce the likelihood of a serious accident or a liability lawsuit by conducting a restaurant risk analysis. A comprehensive risk management plan can reduce the likelihood of these risks because every business endeavor comes...
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Leadership is something that many aspire to, but few achieve in full measure. It has been defined as being a combination of charisma, integrity, determination, flexibility, resourcefulness, creativity, self-confidence, a sense of responsibility, the ability to communicate, and consistency. George Washington had all these qualities, and it is therefore somewhat ironic that although he was truly a great leader, he...
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The downstream oil and gas industry has faced an extremely difficult challenge over the past few years from 2015 to 2017. How were companies in this industry going to survive while the average selling price for a barrel of oil was twenty dollars, and the business models for many oilfield companies had been built on selling barrels of oil at...
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Introduction In the contemporary landscape of organizational development and strategic planning, the intersection of generation games and risk management has emerged as a fascinating area of study. Generation games, often portrayed through interactive simulations and strategic planning exercises, play a pivotal role in understanding the dynamics of decision-making across different age cohorts. These games serve as a microcosm of real-world...
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This is a question that inevitably arises in the mind of anyone who studies, even on a casual basis, the founding of our nation. Washington lived and worked with brilliant philosophers, thinkers, writers, orators and organizers, such as Franklin, Mason, John and Sam Adams, Jefferson, Patrick Henry, Hamilton, Madison, Dickinson, the Randolphs and the Lees, almost all of whom were...
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The main focus of this case study is to deepen our knowledge regarding the implementation of strategic leadership and change management in a diverse company based in Indonesia, where diversity is still an issue. This case study will discuss the manager’s experience of the company’s strategic leadership process and his change management interpretation and how effective it has been for...
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Oriental carpets are works of art –unique and exquisite – worthy of collections. But when it comes to buying oriental rugs, most people shy away or hesitate. It’s difficult to judge its quality and they can never know whether they are being ripped off or their purchase is really worth it. There simply is not one single factor determining the...
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Leadership is described as being a person who has the ability to have people follow them. There are many characteristics for being a leader or holding a leadership role. In order to be a good leader one must be able to be trusted. They must also be a person who is a visionary and knows when to be & not...
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The meaning of sustainability differs drastically depending on which perspective you look at it from. It could mean lower carbon emissions, green and eco-friendly or it could mean a self-sufficient system, or even could be about creating a healthy environment that is based on ecological principles. Putting sustainability within the context of a Supply Chain Management (SCM) process, more accurately...
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An organisational structure is a system that outlines how certain activities are directed in order to achieve the goals of an organisation. These activities can include power, roles, and responsibilities. The organisational structure also determines how information flows between levels within the company. For example, in a centralised structure, decisions flow from the top down, while in a decentralised structure,...
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When making decisions in personal and professional lives, one must identify and compare opportunity costs. When comparing options, it is important to analyze every cost and other opportunities that one must give up. Choosing between taking an absence from work, moving out of town and pursuing a MBA degree full time or maintaining one’s current job while enrolled in a...
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WhatsApp and Telegram are two highly coveted and extremely popular cross-platform messaging apps that have been designed with the sole intention of facilitating quick and easy communication between its users, whilst promising to respect their privacy; a desirable and necessary trait in this day and age. Whilst WhatsApp and Telegram may at first appear similar, there are some important differences...
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Rewards and compensation play a vital role in motivating employees and improving performance in organization. A cautiously designed reward and compensation system can significantly increase the performance of employees resulting in organization's effectiveness and productivity. With the changing scene in the world of work today, a multifaceted reward and compensation system is required to meet the demands of the employees....
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Knowledge, in simple terms, knowledge is data that have been shaped into a form that is meaningful and useful to the intended persons. It can also be defined as information that is specific, relevant and actionable. Social Networks are dedicated websites and applications which enable people to communicate with each other through text messages, comments and using images. Facebook is...
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Business ethics means applying or implementing set of appropriate business policies even if difficult obstacle comes in between for example obstacles like without bridging government laws, refraining from corrupt practices and other illegal practices. Ethics plays an important role in individual judgment and decision which lead to downfall or profit in businesses. When thinking about ethics, it consists of all...
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Diversity may come from many perspectives, it can be as observable as gender, age, nationality, religion, or have more complex definitions like personalities and characters of individuals, different backgrounds and cultures, and distinct mindsets. Conventional speaking, diversity is good for boards and businesses. But when it comes to reality, very few boards would see significant changes and positive returns when...
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Observation is a proposed tracking, recording, review and evaluation of attitudes, acts, or events of people. Observational studies provide substantial insights that other methods of data collection do not. Observational approaches shed light on the actions of consumers and workers and can help address questions such as How do customers walk through supermarkets? How do they ingest goods and dispose...
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Service positioning is a unique identity of a service in competitive market. Positioning is concerned with the identification, development and communication of a differentiated advantage which makes the organization’s products and service perceived as superior and distinctive to those of its competitors in the mind of its target customers. Positioning a service is difficult as compared to products based on...
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