Posted: December 8th, 2013
Compilation of Weekly Assignments for the Comprehensive Final Report:
Students must prepare a final report that includes all of the work completed in weeks 3-7. Students do not have to present the assignments in the order that they were completed in the course. Students should follow the format guidelines below:
The final paper must follow the format below:
1. Font Size (12 point, New Times Roman)
2. Cover Page (Title of Paper, Date, Student Name and Professor Name)
3. Table of Contents (With corresponding page numbers)
4. Body of Paper (Section Headings and APA in-text citations)
5. Conclusion: In the conclusion, explain what management skills were learned after completing these assignments.
6. References page (Sources used in weekly assignments, alphabetized, and APA format)
7. Total page length range from 10-15 pages.
Please remember to have paragraph transitions from one section to the next.
There are three categories of industries which are manufacturing, tertiary and quaternary industries (Krishnaswamy, et al 2005).The manufacturing industry involves the processing of goods and turning them into finished products. The tertiary industry involves the provision of services such as transport. The quaternary industry entails research, science and technological details. All these industries have different categories of managers that are involved in performing various tasks in the organization (Occupational Outlook Handbook, 2012). The following is a list of categories of the various types of managers in the various industries.
The Manufacturing Industry
The Production Manager/ Operation Manager
The nature of work varies depending on the production system for example mass and batch processes have different levels of production. Nonetheless the nature of the job involves:
• Planning, coordinating, and controlling the manufacturing process.
• Ensuring goods and services are efficiently produced at low cost
• Drafting the time scale for each process.
• Qualifications include a relevant Bachelor’s Degree. There is no on the job training however work experience in a related organization ranges from 1-5 years
• The median salary according to the Bureau of Labor and statistics (BLS) is $80,000 annually
• The job outlook as per 2012 is an increase of 6% from the previous year
Sales Manager
• The sales manager directs the distribution of finished goods and establishes sale territories in their company.
• They are responsible for implementing quotas and goals.
• The entry level of education is a sales Bachelor’s Degree or work experience in a related organization that ranges from 1-5 years
• The media pay is $98,530as per the BLS
• The job outlook for the year 2012 was 12% which is faster than the average.
Inventory Manager
It involves the management of warehouses and inventory, and the inventory managers:
• Records new stock as it is acquired by the organization and record inventory levels
• Should have a business bachelor’s degree and good organizational skills
• They earn a median salary of $70,800 annually as per 2012
• In the year 2012 the job outlook was an increase of 10%
Tertiary / Service industry
The three categories include:
Human Resource Ma
ngers
ngers
• They assist an organization attract qualified candidates, prepare employees by conducting training programs and ensure compliance with the law.
• They also conduct periodic surveys to ensure rules are followed
• The entry level of education is a bachelor’s degree in management and the work experience in a related organization ranges from 1-5 years. As of 2012 the median pay was $p99,180 per year and the job outlook was 13%
Marketing Managers
• They advertise goods and services produced by a company, set profit maximizing prices.
• The BLS projects that the growth in the sector stood at 13.6% as per 2012. This was an additional 24200 jobs and the annual median wage was $ 116,010
• Qualifications include a bachelor degree in economics and work related experience ranges from about 1-5 years.
Procurement Managers
• Procurement managers coordinate, direct and plan the distribution of products and services.
• At least 5 years of relevant experience is required and this may substitute formal education. However, for those with no prior experience a bachelor’s degree will be required or any other relevant formal education.
• The growth statistics as of 2012 stood at 10% and the median annual wage was $95,800.
Quaternary Industry
The three categories of managers are Project managers, Asset managers and investment managers.
• They all research asses and analyses the financial information on how to make decisions that relate to the future of the company
• They also formulate a time frame on how long certain projects in an organization should be carried out
• Qualifications include a business bachelor’s degree and as 2012 the average pay was
$89,500 annually. The business outlook was 12% which was above average.
Conclusion
There are various types of industries are quaternary, manufacturing and service industries. They all have different categories of managers who perform various functions such as planning for the future. Their qualifications and pay are determined by the Bureau of Labor and statistics
References
Department of Labor. (2012). Occupational Outlook Handbook, Management Occupations
Retrieved November 13, 2013 from http://www.bls.gov/ooh/management/home.htm
Krishnaswamy, K., &Vijayachitra, S. (2005). Industrial instrumentation. New Delhi: New Age International (P) Ltd., Publishers.
First Book: First, Break All the Rules: What the World’s Greatest Managers Do Differently
The book is written by Marcus Buckingham and Curt Coffman, The book highlights the fact that all the great managers around the world do have some common traits even though they differ in basic attributes. That one common factor is that never hesitate to break the general rules which are sacred by conventional wisdom. This book has done a great research about managers who were front line managers or leaders, some were great players in their SMEs, The belief that they do have is a person can achieve anything if he sets his mind to. This book explains their behavior as they consistently disregard the golden rule. The career lessons and vital performance that are mentioned in this book for managers at entry level are very much related to the historical success of managers and are very much applicable in the present world. The best part of the book is it shows you how to apply them to your situation (Buckingham & Coffman, 1999).
Second Book: The Tipping Point: How Little Things Can Make a Big Difference
This is somewhat on the same path as the first book, the book explains a point in a particular process when a trend, social behavior or idea surpasses a threshold level and spreads like wildfire. For example; even if a small disease yet contagious can spread and start an epidemic of the flu so that a small targeted push can cause a fashion trend or the popularity of a new product. This is used as a buzz in the current era where a small event yet effective can cause hype and have an impact on the entire world.
This was comparatively less in the past as the mediums were not that strong as they are now but of course ion other way when an input was given for a task it used to get complete. This is beautifully explained in this book (Gladwell, 2000).
Third Book: Getting Things Done: The Art of Stress-Free Productivity, written by David Allen
This book clearly based on the belief that the methods that were used in past are not valid today. Here Management consultant David Allen, shares the breakthrough methods for stress-free performance that he has introduced to tens of thousands of people across the country. This book is a motivation for people by getting known to the fact that productivity of an individual is directly proportional to the ability to relax and being stress free. This book is not referring to any particular time, it is talking in present that we can reach to the maximum of our potential only when our thoughts are organizes and minds are clear. There is no room for confusion and anxiety, it is important to plan your goals and stay focused even in changing situations (Allen, 2002).
Fourth Book: What Got You Here Won’t Get You There: How Successful People Become Even More Successful, by Marshall Goldsmith
This book describes the importance of keep growing and passing on the legacy even if you have reached the height of success, there will always be a room to climb the last few rungs. People who have reached to great heights because of their skills, intelligence and charismatic performance but only a few of them will reach the pinnacle. There is a very small activity (flaw) performed by one person which can lead to negative perception that does hold back any executive (Goldsmith, 2007).
Fifth Book: Outliers: The Story of Success, written by Malcolm Gladwell
This is a very beautiful book that takes us to a journey through the world of outliers , the best people, the most successful people and the brightest of all and answers the question what are the attributes that makes them different form others. This book is a whole journey from the past to the present with all the details. This entrenches thinking of a common man when he talks about the success of a person, he pays much attention to what he is and very less to how he came here and from where (Gladwell, 2008).
It is my opinion that the mangers use the classical approach. According to (Robbins, S., & Coulter, M. 2009)) scientific management approach advocated the application of scientific methods to analyze work and to determine how to complete production efficiently. Each one of the managers believed that training their people to be subject matter experts, would then put the right people in the right job. The managers also understood the downside of this approach that people may lose interest in their jobs, become bored, thus production will decrease.
The managers also use modern approach towards business management is one that has gone beyond the boundaries of the organization. A successful business is no longer established by carrying out internal redevelopment measures and continuously tweaking internal process to achieve optimization. The equation has grown far more complex and it has become imperative to realize the need to optimize external business operations as well. Core assets and processes have to be beyond merely accessible and need to be adjustable and adaptable to changing business needs. These business needs are no longer identified by the consumer alone but are also influenced by other corporate and non-corporate organizations/entities with which they interact during the execution of their business functions.
Modern day business require considering all associated business entities as partners in the business. While this consideration is not one that is taken in literal terms, it is considered to be of key relevance and has evolved into the formalized management philosophy commonly referred to as Value Chain Management.
References
Allen, D. (2002). Getting Things Done: The Art of Stress-Free Productivity. NY: Penguin Books.
Buckingham, M., & Coffman, C. (1999). First, Break All the Rules: What the World’s Greatest Managers Do Differently (Firths ed.). NY: Simon & Schuster.
Gladwell, M. (2000). The Tipping Point: How Little Things Can Make a Big Difference. NY: Back Bay Books.
Gladwell, M. (2008). Outliers: The Story of Success, written by Malcolm Gladwell. NY: Little, Brown and Company.
Goldsmith, M. (2007). What Got You Here Won’t Get You There: How Successful People Become Even More Successful. NY: Hyperion.
Robbins, S., & Coulter, M. (2009).Managing Diversity. Management twelfth Edition (Twelfth ed., pp. 28).Classical Approach: Pearson.
Doing Business in China
During the last 30 years, China had an astonishing economic growth, which is nothing less than a miracle. This phenomenal growth propelled China from being a poor country to an economic power house. China has already replaced Japan as the second largest economy in the world. Some experts estimate that China would surpass the US as the largest economy in the world by 2018. China’s growth has caused some concerns in the US. Many think China has adopted a very different model so called “State Capitalism” and is emulated by many other developing countries. Education system in China also has produced a new generation of workforce in science and engineering areas. (Doing 2009)
Meanwhile many US politicians
argue that China engages in unfair trade practices and that it is a currency manipulator. Many politicians also call for imposing sanctions on China. Some politicians also want to link trade with China’s human right practices. This is not new and is a familiar episode when Japan was on rise in the past. Meanwhile along with BRICS, many other developing countries are on rise. After 2008 financial crisis, there is big historical shift underway politically and economically. How to reach customers in these growing emerging markets will be a strategic business value proposition.
argue that China engages in unfair trade practices and that it is a currency manipulator. Many politicians also call for imposing sanctions on China. Some politicians also want to link trade with China’s human right practices. This is not new and is a familiar episode when Japan was on rise in the past. Meanwhile along with BRICS, many other developing countries are on rise. After 2008 financial crisis, there is big historical shift underway politically and economically. How to reach customers in these growing emerging markets will be a strategic business value proposition.
China’s economic freedom score is 51.9, making its economy the 136th freest in the 2013 Index. Its overall score is 0.7 point higher than last year, reflecting modest improvements in four of the 10 economic freedoms. China is ranked 29th out of 41 countries in the Asia–Pacific region, and its overall score continues to be lower than the global and regional averages.
China’s economy remains “mostly unfree.” The legal and regulatory system is vulnerable to political influence and Communist Party directives. The party’s ultimate authority throughout the economic system undermines the rule of law and respect for contracts. Corruption is widespread, and cronyism is institutionalized and pervasive. Although leaders occasionally embrace market principles that could enhance efficiency and ensure long-term competitiveness, genuinely liberalizing economic reform has largely stalled.
How will this development change the global business environment and practice, as well as technologies and products/services offered?
With China aiming to surpass US, the development would have huge impact on the global would and the global business practices. Currently all the practices and the business environment revolve around United States and the policies formulated by the country. With China becoming the super power, the level of practice would change completely.
As stated in the article itself, the country is manipulating the currency exchange rate and hence this should be prevented. If China becomes the super power, many countries would start the same and this would affect the global trade adversely. (PWC 2010)
The technological innovation might slow down and this would mean the slowdown in the economy again. The conditions of the 2008 crisis might come again and hence there is a need to prevent such changes. Other countries in BRICS are still developing and therefore they do not possess much of a problem to the global economy. They are still struggling to work around their internal problems and China is the only threat to the world business. (PWC 2010)
What are the opportunities and challenges ahead for US businesses?
There are more challenges than opportunities for the businesses in US. First of all, they are getting huge competition from the Chinese products. The products are damn cheap and therefore most of the countries prefer to buy from China. With the cheap availability of labor in the country, China is currently becoming the hub for manufacturing sector. Because of this most of the US companies are shifting their manufacturing unit to these countries and the people from US are losing out on their jobs.
There are many opportunities in terms of the market and the different levels of service that the developing countries cannot provide. One weakness of the products and services from China is low quality products. Products that are manufactured elsewhere are high in terms of quality and therefore this is an opportunity for the US companies to tap the market with the higher quality product. (International 2013)
References
Doing business in China.(2009). Retrieved from http://www.pkfchina.com/download/Doing_Business_in_China.pdf.
International finance corporation. (2013). Ease of Doing Business in China.Retrieved from http://www.doingbusiness.org/data/exploreeconomies/china/.
PWC (2010).Doing business in China.Retrieved from http://www.hsbc.com.cn/1/PA_ES_Content_Mgmt/content/china/commercial/internationalbanking/images/doingbusinessinchina.pdf.
Description of Three Decisions
Many a times my parents taught me “to practice being a good gentlemen”, in which case I adhered to it, as much as I could. However, one of the most significant things that I missed listens to involves settling down early in my life. Close people in my life that include relatives, friends and my family continued to tell me stories concerning settling down in their life. Most of stories involved the reason why they had to settle down in their life but I was not amused at all. Then came the challenging situation of career choices and this was another hectic thing in my entire life. Giving my children advice about their education and career also challenged me. In essence, this essay focus on the description of three significant decisions I have made.
First Decision
One of the problems I experienced is getting to marry. This problem needed to be solved because it had disturbed my peace of mind and I had gotten a lot of pressure from my close friends that were pressing me to settle down in life. The affected parties in the problem involved me personally, my parents and my relatives. The problem does not have any specific time-line, but it has some time that whenever a person goes beyond, it sends some fear to the affected people. There were several factors involved in making the decision to marry or settle down. In my life, I was dating many girls and it was quite difficult choosing the best girl. All their values were good and they fitted my values. The attitudes fitted with what I intended and the way all of them handled relationships and also their spiritual life was all excellent and were good according to me.
Applying the principle for judging the alternatives, I decided to test the talents and also the passions, including creativity that became the source of ongoing spark and engagements with me. All the times, I could go out with one girl and in the course of an outing, I could brainstorm and analyze the various cho
ices. I had to generate every possible solution and alternatives for the problem I had at hand. It was then that I noticed the differences between the girls. This is after applying the evaluation of alternatives. In essence, my experience and effectiveness of the principles of judging had to come into play. At last, I hit on the best person after evaluating all the alternatives, and this made me arrive at the best alternative. The selection of my wife was quite an informed decision and all methodology was followed. I proceeded with the chosen wife and went ahead to marry proactively. This was the right decision because I realized and achieved what I wanted, including satisfying everybody that were close to me.
ices. I had to generate every possible solution and alternatives for the problem I had at hand. It was then that I noticed the differences between the girls. This is after applying the evaluation of alternatives. In essence, my experience and effectiveness of the principles of judging had to come into play. At last, I hit on the best person after evaluating all the alternatives, and this made me arrive at the best alternative. The selection of my wife was quite an informed decision and all methodology was followed. I proceeded with the chosen wife and went ahead to marry proactively. This was the right decision because I realized and achieved what I wanted, including satisfying everybody that were close to me.
Second Decision
The other problem that needed great decision is choosing my career. The problem I had is that I wanted to be a lawyer, a doctor or a police officer. I wanted to solve the problem because it was somehow delaying my development as a person. The most affected parties in the problem included me personally, teachers who taught me and also the parents. The problem has some deadline and a specific time-line because I was schedule to leave for college January. There were several factors that were involved and it also affected my preparation to go to campus. In the process of solving such an issue, I had to ensure that the marketability of the career is excellent. I decided to enquire from the professionals and also teachers on such careers. Gathering of much information, I decided to apply the principles for judging the alternatives.
With the information at and, I brainstormed and analyzed the three career choices, and I decided to become a police office to fulfill my dream. The arrival of the best alternative was some informed decision and this is because I followed the right methodology to arrive at it. I went ahead to pursue the career of a police officer and it gave me tremendous benefits. The outcome of my decision to be a police officer helped me get the job In essence, I learned that whenever I am faced with a problem, I have to consult and seek direction on the way forward. This will correct my future decision making.
Third Decision
My third decision that I had to make involves giving advice to my children about continue their education and how to make a good career choice. The problem was quite challenging to me. Most people that were to be affected by the problem involved me personally, my children. It could affect me because my children could have failed to follow my advice and also my children would be affected if the advice I gave them was misleading. The problem at hand had some deadline and I was to give the advice in a very short time. Several factors got involved in the problem. Some of the factors involved include the challenging situation of providing the advice, the advice to give, keeping it short among others.
By brainstorming and analyzing the various choices, I kept the advice quite very short. What to say also was something that was challenging. I decided to stay in progressing academically, and little on the social life. I applied the judgment principles of the situation at hand and this made me to achieve on delivering the advice. The decision was best and it led me into being confident. It removed the nervousness I had. My decision was quite good as it had some positive outcomes.
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