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Management - Essay Example

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Management

(McNamara, Managementhelp.org). Administration is a staff function that pays attention to a variety of tasks in order to assist the line managers concentrate on their core tasks. Thus, administration deals with issues like set up/maintenance of facilities, keeping employee-related records, travel arrangements, public relations, etc. Good administration is essential for efficient functioning of any organization (ibid.). The term management as a verb denotes the task of ensuring that an organization achieves its set objectives and goals by identifying problems, reviewing alternative solutions, selecting the most appropriate ones and implementing them. As a noun, the term encompasses (your last name 2) the set of people at different levels who are entrusted with accomplishing the assigned tasks by deploying resources in an efficient way. More commonly, managers at the higher echelons of an organization are referred to as management because their role has a defining impact on its success or failure (ibid.). Leadership is an individual characteristic and is essentially a trait by which a person commands respect of peers and followership of a number of subordinates. A leader leads by example and inspires people. Unlike a manager who is more focused on achieving current goals and objectives, a leader transcends the short-term objectives and works in a creative manner for the long-term benefit of an organization. In this sense, one finds leaders at all levels of an organization – both for inspiring

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people to excel in their current tasks as well as to lead an entire organization for successful growth (ibid.). Q.2: Choosing the new CEO A person to lead an organization must be a visionary and leader of men. It is his/her vision that would propel the company to higher levels of growth and profitability. It is one thing to keep running the existing operations efficiently and quite another to be able to see the challenges that the market place imposes on businesses in the form of competition and demand saturation – factors that inhibit growth of a business. Competition can come from rivals based on pricing or product features. Demand saturation in one geographical area forces one to think of new markets at home or abroad. Therefore the position of a Chief Executive Officer (CEO) would call for a wide spectrum of experience, leadership ability and management skills. (your last name 3) The three potential candidates for succeeding as CEO are to be judged in this background and an appropriate selection made. Each of the three candidates has excelled in their respective roles and it is important that a wrong choice should not elevate them to their level of incompetence. The Chief Financial Officer (CFO) is a specialist in the narrow field of finance and accounts. In spite of his proven track record of excellent man-management and public relations abilities, there is little evidence of his abilities as a visionary. Rather, it would seem that he is too focused on ‘investing public, stock analysts and tax rules’ and the related professional bodies. Thus, he hardly had any time to grow out of his area of specialization. Elevating him as CEO would be disastrous since he can neither let go of his passion for his former domain nor do justice to his enlarged role. Rather, he might stifle the new CFO by interfering in day-to-day work. The Chief of Operations (CoO) is

Summary

(your last name) 1 Your name Business and Management Q.1: Supervisor/administrator/management/leadership Supervision is a line management function by which a person in a position of authority supervises and directs the work of those working under him…
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