Company description
The XYZ internet Company is a starting up web marketing company which intends to develop market and implement Google ads for companies globally. This company intends to offer professional online marketing services to potential companies, industries, organizations and institutions globally. The services described here are online marketing consultancy and other professional services that ensures proper implementation of online Google ads, they include;
- Assisting companies to define, their target markets, defining their marketing objectives and adopting up to date but appropriate strategies used in marketing
- Conducting keyword researches that identifies suitable search engines and keywords that relate to; the type of business through the company’s web site for the their respective customers
- Developing appropriate copywriting procedures and designs that match the keywords thereby increasing its chances of a click through the use of the ad
- Crates customized landing pages and works to improve conversion rates if necessary
- Monitoring, creating and adjusting keywords on as and when need be basis
The management of the XYZ internet Company will consist of the owner who will be the chief manager and to be supported by the professional programmer who will be designing, maintaining and updating the ads on the website. Sales staff, apprentice and junior employees will also be necessary for the company if it goes by its expansion policies.
Environmental Analysis
In essence environmental analysis is commonly referred to as PESTLE analysis that is considering political, economic, social, technological and legal factors before investing in the target market. The XYZ internet Company is not exceptional from the intense competition that the industry is subjected to not only in the U.K but all over the world. The company management therefore has to come up with viable marketing strategies in order to attain its competitiveness as well as meet the needs and demands of its customers through provision of high quality internet services. Thus the company must consider diversifying at the same time producing quality products; to effectively do this it must consider the following factors (Maundy, 2001)
Political factors
These are factors that relates to political system and political instability of countries where The XYZ internet Company wish to market its products. This will involve scrutinizing the system of government that such target countries have adopted. The company will therefore need to decide whether to invest in communist or capitalist countries after careful consideration of each political system in terms of carrying out business in the chosen country of interest. It is recommended that The XYZ Internet Company should invest in those countries with flexible capitalist political systems because it allows labour, capital and resources to flow freely in and out of their countries thus making those destinations the best target markets for The XYZ internet Company to market its services.
Economic Factors
This will involve The XYZ internet Company analyzing the economic factors that may hinder or augment its operations in the target countries. Such trade barriers like restriction of imports and exports as well as foreign exchange rate systems should be carefully evaluated by the management of the company in order to carry out its operations without economic constraints.
Other economic factors of importance to be analyzed by the company will include, inflation particularly anticipated inflation, balance of payments, counter trade, fiscal and monetary policies among other significant factors. Although XYZ internet Company may not be subjected to many of the above factors it will be prudent to critically analyze deeply the factors particularly inflation and foreign exchange systems by utilizing forecasting techniques that can give the company a clear picture of the future. (Rampton, 2003)
Social Factors
This will involve the management of The XYZ internet Company analyzing income level, social structures, educational backgrounds, religion and family units before selling its services to the community. History reveals that social factors play a major role in consumption of products in the society for example some religious beliefs may not allow consumption of some products. Therefore, it will be prudent for the company to clearly identify the right products for the right consumers as well as for the right markets. Social factors may influence beliefs, interests and attitudes of the consumers and therefore the management of The XYZ internet Company has to consider in details such factors in order to avoid losses associated with these social factors.
Technological Factors
Technology and innovations have taken centre stage in an attempt by firms to achieve a considerable market share in many industries. Technology provides an opportunity to the firm of expanding through utilization of advanced technologies but at the same time it may contribute negatively to market participation for example where businesses use technologies to compete unfairly.
The XYZ internet Company will have to utilize advance technologies for example the use of internet marketing while trying to explore new markets in the target market. Such technologies will be useful in that it will save time and financial resources that could have been spent and therefore the management can therefore use the surplus resources in further expansion or pay back its shareholders returns thus getting shareholder confidence in the process. (Maundy, 2001)
Legal factor
All businesses including The XYZ internet Company must operate in a business environment deemed to be legal by the target market. The company will therefore have to ensure that the sale of the internet services is allowed by the host country in order to avoid unnecessary legal battles. XYZ also should observe the existing laws regarding to business transactions in the target market particularly avoiding unfair competition.
There are various functions through which management operates. Planning as a function involves deciding the future occurrences or activities in the XYZ internet Company. This can include activities done in the week, month, year or more. Organizing is all about using the available resources to accomplish the plans in the institution. Controlling is just monitoring the plans to ensure the plans are implemented. It involves feedbacks and modifications. Leading means being the fore front and helping the employees achieve the desired results. In management there is the use of power given by the position in an institution. Leadership has to do with using power to influence the entire people in an organization to achieve the desired results.
Another section of business organizations that need planning is the policy formulation section. This is critical in that as a profit making company, strategies must be placed correctly to counter marketing issues such as competition from companies which manufacture the same product. (Rampton, 2003)
Local policy development, creation and implementation come hand in hand with policy planning. Under human resource management we find that planning involves recruitment, hiring, evaluating, training and maintaining the caliber of the workers in any organization such as the XYZ Company is important ensuring that skilled workers are employed in organizations
Function of the Manager in Organizing
Organizing is how the internal structure of the XYZ internet Company is set. At the XYZ internet Company for example the management is responsible for organizing the annual general meetings that brings together all the stakeholders on board.
After planning, organizing is immediately carried out in any institution. This is where the available tasks are assigned to various people and departments in the organization. (Maundy, 2001)
The resources available in the organization are then allocated to enable the accomplishment of the tasks. In organizing there is the division of labour and work specialization is carried out. At this stage systems in an organization are designed. This enables employees to easily coordinate across departments. There is the delegation of duties such that each person knows what he or she is supposed to do. This increases accountability in any organization.
Leadership
Leading aims at bringing change in an organization. It also involves giving inspiration to people. In leadership there is a lot of motivation that is carried out.
In any job, there comes a time when one feels like giving up, the drive to work is not there. At such moments employees need to be motivated to work. Leading is quite interpersonal in nature. It is not just the manager in an organization that is supposed to lead. It can even exist between employees. It has to do with mutual influence.
Function of the Manager in Controlling
Controlling is simply following up on plans to ensure proper implementation. This means that planning and controlling are closely related. In management activities’ functional chain, controlling acts as the final link. The management cycle is never complete without controlling executed. (Hilltop, 1994)This is where there is setting, communication and application of the performance standards of employees or people.
When mechanisms to monitor employee’s activities are put in place and the corrective action applied then the control can be termed as effective. The manager in XYZ internet Company should observe what is happening in the organization and compare with what was initially planned to happen. If what is happening is not as per what was supposed to happen then corrective action is taken such that those below standard required standard attain this standard.
When there is delegation of activities by the manager to employees, then the control facilitation quite effective. He can then ascertain whether the ideas are being implemented or not. Timely feedback on what the employees are doing is important to the supervisor because he is always accountable on matters concerning performance of the employees. In this case, effective internal control in an organization is a fundamental responsibility of the organization’s management. The resources should be used effectively and efficiently in achieving the results. The resources are used without mismanagement and with very little wastage to achieve the planned results. (Maundy, 2001)
For instance total revenues and expenditures should be accounted for. Control as a management tool should not be isolated in to exist alone. Rather it should be incorporated with auditing, budgeting and planning. Control is never effective if it doesn’t give feedback to the organizations management. When controls are too many they may be ineffective. Control also helps organizations to comply with laws and regulations like meeting standards in quality. It ensures that financial reporting is reliable and helps operations be efficient. (Rampton, 2003)
Decision making
Every person at one point or the other always carries out decision making. There are times when the decision to be made does not require much thinking. There are times in life when decision making process is just a hard task depending on the issue being addressed. Managers in the XYZ internet Company have to make important decisions every single day. Sometimes they also need to consider so much before making these decisions. A manager needs to take necessary steps for the decision making to be effective. (Rampton, 2003)
Decision making steps
Pinpoint
At this stage the manager has to know the issue that needs to be decided upon. In doing this there have to be two or more options and not less than two.
Identify
In this stage the manager has to identify the available options and alternatives.
Listing
After identifying the alternatives, there is the need to write down the advantages and the disadvantages of each alternative. The manager has to know the values and the organizational priorities. Then there is the elimination of alternatives that the manager or individual feels they are not comfortable with.
Examining
After narrowing the alternatives, the options left have to be weighed. In this the outcome of each alternative is considered. A manager has to know the outcomes that are favorable to the organization.
Make a choice
The manager then needs to make a choice on the favorable alternative. This choice has to solve the problem and should not lead to further problems. The manager needs to implement the decision.
Evaluation
Good decisions do not necessarily mean that the outcome will also be good. Sometimes the best outcomes are not achieved but the manager should know at least he or she made the right choice. This should not discourage him or her to make other future decisions.
Conclusion
We can therefore conclude that, management functions apply in every organization and the XYZ Internet Company is not exceptional in order to attain desired goals. The manager therefore in the XYZ Internet Company should be equipped with skills that will ensure that the above functions are coordinated well and with ease thus accomplishing the set goals efficiently and effectively. The management functions are considered to be continuous processes such that the effective accomplishment of one function will lead to attaining other functions smoothly within an organization. It is therefore necessary for all organizations to continuously provide training programs in order to sharpen the skills of there employees so that they can effectively perform the management functions with less difficulties. (Hilltop, 1994)
Reference
Hilltop J (1994): European Human Resource Management in Transition. New York, Prentice Hall, pp 23-76.
Maundy L (2001): An Introduction to Human to Human Resource Management- Theory And Practice. Macmillan, Palgrave pp 12-45.
Rampton L (2003): Human Resource Management. New York, Melbourne press, pp 23-37.