5.0 Management Plan
The initial management team will comprise of only a few members, as we grow, we will take on additional help in certain key areas. Part of our basic philosophy will be to run our executive management through a small board of directors (Armstrong et al., 2014). We will not add additional directors until absolutely necessary. This will mean that the initial management team will have to work extra. By doing this, we will keep our overhead as low as possible, allowing us to adequately staff our outlets. This will also allow us to recoup investments as quickly as possible and enjoy a higher return.
5.1 Board of Directors - Names and Qualifications
The board of directors will bear the ultimate authority and accountability for …show more content…
He has demonstrated success as a business company board member and exhibited a track record of building credibility in the fund oversight (Decker, 2016). Additionally, he will have adequate finance and accounting experience (Decker, 2016).
Vice chair of the Board
The vice chair will act as a representative of chairman in case of absentia. More so, he will take a major role in decision making since he will be a confidant to the chairperson. As such, the qualifications will largely borrow from those of the chairperson (Armstrong et al., 2014). Hence, he must exhibit relevant industry experience from working as a board member from similar company; in addition, he must have strategic and problem-solving skills, and strong interpersonal and negotiation skills (Decker, 2016).
The secretary of the board will be in charge of documentation and communications of the board. Therefore, he will be responsible for timely communication of meeting and record keeping of the board meetings and delegations (Cronin-Gilmore, 2012).
Among the major qualifications includes; Savvy diplomatic skills and a natural affinity for cultivating relationships and persuading, convening, facilitating, and building consensus among diverse individuals (Cronin-Gilmore, 2012). Excellent written and oral communication skills coupled with natural affinity for
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In this paper we will examine the management style of Google Inc. We will also evaluate two key changes in the selected company's management style from the company's inception to the current day. Indicate whether or not you believe the company is properly managed. As well as explain senior management's role in preparing the organization for its most recent change. Provide evidence of whether the transition was seamless or problematic from a management perspective. Also we will evaluate management's decision on its use of vendors and spokespersons. Indicate the organizational impact of these decisions. And we will look
The candidate should also be able to build and delegate a team. If the selection committee hires somebody who is over-dependent on others, like a mentor of some sort, success would be out of the question. The candidate should also be able to circumvent from too much power as he will be prone to abusing it. He should convert his power to influence others but not to exploit them.
3. Has the board established a nomination committee which consists of a majority of independent directors? The board should be structured in such a way that it ensures an appropriate mix of skills and expertise to govern the company and enhance its performance role. The committee should be structured in such a way that a majority of independent directors can enhance the board’s
Another skill that I see as a valuable asset to the office of chapter president is my ability to communicate with others, have an open-mind and act as a motivator within the chapter. These are both important characteristics of a chapter president, especially being open-minded. I understand that the position of president is never set and stone and you never know what situations could arise. It is important to always be open to change and with these changes, react to situations in a way that considers that chapter as a whole. Along with my ability to be open-minded I believe that I also have a friendly and approachable personality. The position of president requires you to represent the entire chapter as a whole, and I believe that with my approachable
Board of Directors – are responsible for overseeing the activities of Innovative Widgets so that the company meets the expectations of our founder.
It is the board's responsibility to consider and authorize a suitable remuneration package for the company's chief executive officer (CEO), make recommendations with respect to the attractiveness of dividends and dividends pay out, approve stock splits, form the audit committees, approve the company's financial statements, oversee management’s involvement in the shareholders and other stakeholders long-term interests and recommend or discourage major decisions such as acquisitions and mergers.
The company secretary plays a vital role in supporting the board’s effectiveness by observing the company policy and procedures are followed, and coordinating the timely delivery and the agenda of the Board of Directors and physical conference.
The ability to collaborate with program management and other multi-functional teams is required. Successful candidate must be able to multi-task, make decisions in a timely manner, display strong interpersonal skills, have a general knowledge of FAR/DFARS and associated Federal Contracting regulations and be capable of working in a fast paced environment.
Organizations are responsible for the legal, ethical, and social issues that affect each stakeholder within the company. These factors continually impact the planning process performed at each level of management. An organization that neglects to establish and monitor plans can become disorganized and ultimately lose control of practices performed throughout the corporation. A prime example of poor planning due to disregard of legal, ethical, and social issues were the executives employed at WorldCom.
IT Management Plan Prepared for The University of California Travel Program MGMT 422 Prepared for Augustus Hudson By William-Garrett Burnham Contents 1. INTRODUCTION………………………………………………………………... 2 1.1 Purpose/Scope…..… ……………….. …………………….......
The Board of Directors are in charge of determining the corporation’s leadership structure on an annual basis and determine if the board will be led by an independent Chairperson or an independent Lead Director. The board has decided that Ronald Sargent, the CEO of Staples, will remain and the Chairman of the board. The Board of Directors is broken down into five committees made up of around three or four board members. Each committee has there own responsibilities and are in charge of making critical decisions that they must assure is communicated properly throughout the entire company. This leadership structure assures that the Board of Directors has a proper balance of leadership roles that allows for a system that prevents any conflict of interests that may come from having the CEO serving on the board.
The board will help set strategies, direction, vision, hire/fire top management, monitor and supervise top management, oversee the use of resources, and care for shareholders' interests (Wheelen & Hunger, 2006, pp. 36-37).
In order to be successful in performing the aforementioned duties, the applicant must have high level research skills, interpersonal skills, leadership skills, management skills, organizational skills,