What is management?
This is a process whereby people in an organization come together to achieve set goals and objectives (Gomez-Mejia et al., 2008). Accomplishing the goals and objectives calls for effective use of an organization’s resources. Effective management calls for proper planning and organizing (Craig, 2009). Sound leadership and competent staff are an integral part of management. Resources in the management perspective entail human, financial, and technological expertise.
Explain Toyota using terms of four management’s functions
Toyota has effectively employed the four management functions to enhance its global marketing strategy. This has ensured the smooth running of its administrative duties as it achieves its set goals and objectives. The management functions that they have prioritized include the planning aspect ts, organizing, directing, and controlling.
During the planning stage, the administration has ensured that it assesses where prospective outlets should be situated globally. After the assessment, the administration initiates a course of action that is subsequently implemented after careful l considerations to ensure the Toyota goals and objectives are achieved (Pakhare, 2010).
The course of action can be altered time and again depending on the prevailing market conditions. Strategic planning has been n very pivotal in ensuring certain set goals are met. In strategic planning, Toyota gets to analyze the factors both internal and external that the stand to affect its operation and its profit margin and interfere with its attainment of set goals and objectives.
The management, therefore, evaluates the company’s strength and weaknesses, the opportunities they are likely to reap from and threats to the realization of set goals and objectives. The management also organizes its human, technological, and financial resources to ensure that the plan of action is implemented. Resources are assigned to areas where they are optimally made use of.
The staff is harmonized to come up with the best way in which tasks and expenditure of information can be best done. It is the prerogative of the management to see to it that work is divided on a priority basis. Management ensures that appropriate departments are charged with the right responsibilities.
By carrying out its ‘directing’ duties, the Toyota management gets to control and supervise the activities of their staff. Through this, the staff gets to achieve the set-out the company’s goals and objectives while accomplishing their individual career goals. The aspect of accomplishment of individual career goals is enhanced by the motivation that the management gives.
Motivation is done in the form of incentives to the staff. Toyota finally accomplishes its management functions by coming up with performance standards intertwined with the company’s objectives. It carries out evaluation exercises to be abreast with job performance by the staff. Through this, they ensure that they can come up with remedial measures to findings that can impact on the company’s returns negatively.
Two concepts that can be applied in PDD Scenario
In line with PPD strategic priorities of increasing growth, reducing risks, and improving their financial performance, two management concepts can be implemented to curtail the high rate of turn over that is occasioned by poor remuneration of employees and competition from other CRO’s like GlaxoSmithKline (Kotter and Cohen, 2002). The management should undertake to offer incentives to workers who perform exceptionally well on top of the salary they are paid.
This provokes employees and makes them surpass their performance levels. Incentive programs should be based on individual performance. PPD should make optimal use of its resources to ensure that it effectively carries out its set out plans and objectives (Manfred and de Vries, 2003). They should also ensure that they do their staffing competitively to ensure that the only employee the right people.
Reference List
Craig, S. (2009). Merrill Bonus Case Widens as Deal Struggles. Wall Street Journal. January 29
Gomez-Mejia L. R., Balkin, D. B., and Cardy, R. L. (2008). Management: People, Performance, Change, 3rd edition. New York: McGraw Hill.
Kotter, J. P. and Cohen, D. S. (2002). The Heart of Change. Boston: Harvard Business School Publishing.
Manfred, F. R. and de Vries, K. (2003). The Dark Side of Leadership. Business Strategy Review, 14(3).
Pakhare, J. (2010). The Four Functions of Management. Web.