Fundamentals of Business Management Essay - Management Assignment Help

Assignment Task

Task 

Introduction to the Assignment

• This assignment consists of ONE case study and FOUR sections
You run a string of tuck shops in your neighbourhood that sells items for everyday use and useful items and accessories for households (electronic and homeware). For the past three years your businesses have been successful and growing fast and are now thinking of branching off into other areas of business-like butcheries and hardware. To accomplish this, you need to be familiar with various practices, principles and concepts that will provide you with the tools and skills to run this growth effectively. Answer these questions.

Section 1 – Introduction To Business Management 

(1.1) As a business owner, you need to be aware of elements of the microenvironment and how each of these will impact your business and its potential growth and development.

Discuss each of these elements of the microenvironment:
• Competitors;
• Suppliers;
• The market;
• Intermediaries; and
• Customers

In your discussion, look at how each of these affect the daily operations of your business and what sort of impact these will have on your company branching off into other areas.

(1.2) Now that you have discussed the five elements of the microenvironment, how each of the five elements will impact daily operations, and the branching of your company, you will need to pay close attention to the macroenvironment. Select any three environments under the macroenvironment and examine how each of these will impact the move.

Section 2 – The Evolution Of Management 

Now that you have assessed the micro- and macroenvironment elements and how they may affect your plans, you need to think about the various management theories, and which are best applicable to your organisation.
Select any two theories that you think would be most applicable to your organisation and provide three reasons, with relevant examples under each theory, of why you think it would be effective in your company. 

Section 3 – Management Levels, Roles And Skills 

Knowing which management theories will be most applicable to your organisation will provide you with insight on what roles your managers play in the organisation and the skills required of them.
Examine any five of the ten key roles of a manager in relation to your organisation and illustrate which intelligence would be most effective for a manager to display in each role.

Section 4 – Prescribed Management Functions  

Now that you have thought about management roles, you need to think about the objectives of your organisation growth.
Examine the viability of your expansion and its objectives using the SMART analysis.

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