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The functioning of any company depends on the efficiency of its managers and strategies they suggest to solve specific problems and guarantee further evolution. In such a way, the fundamentals of management acquire the top priority. Their importance could be evidenced by analyzing the following scenario. A company producing clothes decides to run globally and open its departments in different regions of the world. Regarding the modern tendencies in world trade, the Gulf region, and Asia become the main strategic areas where the most powerful facilities should be opened. In such a way, several specific managerial tasks should be performed to guarantee the success of the new entry and final success.
Thus, the first specific area is planning. It is the central aspect of any project or business activity that is focused on the consideration of all hypothetical problems or barriers that might appear during the evolution of a new venture. Successful and efficient planning presupposes calculation of financial aspects, spending, income, profit, and expected outcomes. Additionally, managers should analyze the peculiarities of the area, culture, customer behavior, and the paying capacity of potential customers (Griffin, 2015). These features are an essential element of any business activity as they impact outcomes and the companys opportunities for growth. Finally, the planning stage should include advertizing strategies and other activities aimed at the attraction of customers. For this reason, regarding the case, the company should analyze the market in the Gulf and Asian regions and plan its entry in accordance with the suggested points.
The second critical activity is organizing. Having created an efficient plan for further development, any company should delegate tasks between its managers to guarantee that all actions needed for the development of the project will be handled appropriately. Moreover, the company should distribute existing costs creating a particular pool that will be used to sponsor all activities aimed at the further evolution of the brand in the selected areas (Robbins, Coulter, & De Cenzo, 2016). Finally, efficient communication patterns should be established to ensure the enhanced cooperation between all facilities and their ability to alter their work if some problematic issues appear. In such a way, the fundamental of planning describes how the suggested strategy should be executed.
Leading is another fundamental of management that should be considered when running globally and creating a strategy for the successful lunch. Leadership is one of the central issues needed for the further evolution of any firm or company. However, new departments should be headed by experienced and skillful employees who demonstrate high devotion, competence, outstanding managerial abilities. (Lussier, 2016). Workers with knowledge about the Middle Eastern and Asian markets should be considered. Additionally, their choice should be fair to ensure the preservation of the positive atmosphere within the collective. At the same time, the brand should observe the strict hierarchy to ensure that departments will cooperate efficiently and contribute to the development of the project.
Finally, control is another significant aspect that should be incorporated into the functioning of the company regarding its decision to run globally. Efficient monitoring is the key to the enhanced results as it provides managers with an opportunity to respond to problematic issues and introduce alterations to its functioning (Griffin, 2015). It could be organized using daily reports collected with the help of the corporate network and data sheets provided by leaders of particular departments. Control will also help to enhance performance by rewarding the most efficient workers and encouraging others by demonstrating the benefits of outstanding performance.
Griffin, R. (2015). Fundamentals of management (8th ed.). Boston, MA: South-Western College Pub.
Lussier, R. (2016). Management fundamentals: Concepts, applications, and skill development (7th ed.). Thousand Oaks, CA: SAGE Publications.
Robbins, S., Coulter, M., & De Cenzo, D. (2016). Fundamentals of management (10th ed.). New York, NY: Pearson.