Management Essay

1393 Words6 Pages
We live and work in a condition with challenging opportunities and dramatic uncertain economic environment, especially for managers, must have enough skills and knowledge to manage the changeable business environment. This essay will discuss whether the managers nowadays have the tendency to focus on economic results at the expense of more important things or not, and yes, the managers have the tendency to focus on the expense of more important things, the discussion will be demonstrated from the following concepts: contemporary management challenges—downsizing, workplace diversity, restructuring, globalisation and quality; organisational culture in Australia, managers’ role in managing organisational culture. Managers today must be able…show more content…
Quality means the total features and characteristics of a product or service that has effects upon its ability to satisfy stated or implied needs (Davidson et al. 2006). All the challenges that managers need to face to are mentioned and defined above, the analysis of the relevance of these challenges and economic results will be addressed in the next paragraph. All profit-orientated organisations are focus on strategies to measure the value they produced in financial terms. In that case, managers need to provide strategies and action plans to achieve organizational goals, encourage efficient employees, reward good performance, and support risk and creativity to achieve higher profits (Thach & Thompson 2007). Moreover, satisfy the customer needs is very important, because their purchasing activities can bring the profit (Thach & Thompson 2007). Financial performance not only can show whether the business gain or loss money, if gain more money means the business running well and is successful on financial terms, but also is an important measurement when evaluating the abilities of the manager. Although financial performance is important for the organisation, managers should not only focus on it, should also focus on the
Open Document