Reference no: EM131474252

Assignment: The Functions of Modern Managemen

TEXT BOOK

Bierman, L., Ferrell, O. C., & Ferrell, L. (2016). Management: Principles and applications, custom edition [Electronic version]. Solon, OH: Academic Media Solutions

Learning Outcomes

Describe the difference between data and knowledge in terms of the executive information system (EIS).

Analyze the four steps in the control process as it relates to the six elements of input.

Develop an organizational plan.

Introduction

The focus will be the six elements of organizational input (mission statement, strategic plans, tactical plans, past experience, feedback from external environment, and control system design), and how each of these elements influences the four steps of the organizational control process. This week's content will also explore the difference between data and knowledge in terms of the executive information system (EIS) and how the executive manager can use the EIS to make effective decisions and develop organizational strategy.

Instructor Guidance

A Complete Paradigm Shift (Leadership and Power)

I peruse YouTube frequently and look for business related topics and discussions. I happened to come across this particular video a while back and really thought it should be the focal point of my last guidance for our class.

I believe that in today's business environment, corporations and leaders need to rethink their business approaches, models, theories and strategies. Leaders are currently operating under a paradigm of what is in it for me syndrome and focused on short term profits and returns for stakeholders. This business model is leader driven and places no real true value on employees outside of being used and abused to accomplish business objectives.

Fortunately we are now starting to see a major shift from operating under this type of business strategy and leadership perspective into a new paradigm now focused on a mission driven and value based philosophy. This new concept is focused on what is best for the world rather than the organization at that moment in time. Also, the traditional leader-follower business model is being torn down and reestablished.

There are two mental models and approaches:

1. One outside mental set states that I do something to get something-old paradigm.

2. I do something to grow my own capacity and the capacity of the community and global environment-a growth mind set.

Establishing a new culture with leadership that operates under a growth mind set is a new paradigm shift. Some major corporations such as Pepsi Cola are operating under this new paradigm and innovative way of thinking with respect to a culture based on values and a growth mind set. These are becoming the best corporations to work for and are attracting the best talent because of this business strategy and model based on a values driven culture. The new business model is being changed with the power being invested in the followers and focusing on long term sustainable results with the stakeholders' best interest in mind rather than short term profits. In my opinion, this entire approach allows for a more global perspective and increases the opportunity for better margins and more satisfied employees.

Take some time and look at this nine plus minute video. Reflect back throughout the last five weeks of this class and what you have learned. Think about the theories and the changes that have occurred as the literature based was expanded upon. We are facing some significant economic issues and our government and our corporations need to be managed differently. This is the beginning of a new paradigm and YOU can become a calylist.

Value Driven Organization and Business Growth

https://www.youtube.com/watch?v=a84YVfzo07U

Short piece on new emergingbusiness paradigm. Interview with Jeff Dunn, Richard Hawkes, Dawna Markova and Richard Barrett, in Costa Rica at the ...

Discussion 1

Analyze how the four steps of the control process and explain how each step contributes to the control function.

Describe the three types of controls.

How can the effectiveness of controls be assessed in an organization? Is this assessment different for a global organization?

Guided Response:

In your response, please include detailed information on the four steps of the control process.

Also, review the content on budgets and properly incorporate it into your response.

Discussion2

(1) What is the primary financial control tool used to manage the operations of an organization and how can it equip managers with the information they need to make decisions? (2) How are financial controls different for a global organization? (3) Provide three example.