Changes may concern different things. It can be an acquisition or a merger for the sake of keeping the company, implementation of diversity initiatives, new technologies, or health crisis response plans. No matter what the change is about, a leader must be cautious enough to notice it on time and take action for the company to stay afloat.

Julie Zhuo – Medium

Leaders focus on the big picture. They create and communicate vision, and empower others to carry it out. In other words, they set a direction, help people understand it, and create conditions for them to act and make things happen.At the same time, it poses a threat to the fixed-line telephone business, which has long been the monopoly of public sector enterprises. Both managers and leaders try to achieve effectiveness – but while managers control people, leaders motivate them. Knowledge of the environment helps managers identify the direction in which they should proceed. They will travel along with a distinct way of changing direction whenever necessary. Without an understanding of the environment, managers are like a bicycle without a handlebar – no way of maneuvering while riding on a street.

making Evidence-based practice for effective decision-making

Business laws also protect society at large. The laws regarding a merger, acquisitions, industry regulation, employment conditions, unionization, workmen’s compensation, and the like affect a firm’s strategy. The external environment embraces all general environmental factors and an organization’s specific industry-related factors. The general environmental factors include those that are common in nature and affect all organizations. Core purpose. This is the organization’s “reason of being”. This reason is deeper than making money. For example, the purpose of Mary Kay is “to give unlimited power to women,” and the purpose of Wal-Mart is to give ordinary people a chance to buy the same things as rich people. A competitor profile may include such variables as market share, product line, the effectiveness of sales distribution, price competitiveness, advertising and promotion effectiveness, location, and age of the facility, production capacity, raw material costs, financial position, etc. Satisfaction of customer”- the primary goal of every organization. The customer pays money for the organization’s product or services. They are the peoples who hand them the profit that the companies are targeting.It may be noted that some industry environmental factors, such as competitors and substitute products, may exist even outside the concerned industry. When an open-minded leader possesses a clear vision and strategic thinking, and a manager has strong organizational and technical skills, their combination creates a powerful synergistic effect. This effect surpasses the impact of each individual approach. What makes you trust someone else? Conversely, what triggers you? What are the qualities you value that inspire your trust?

Planning, Organizing, Leading, and Controlling 1.5 Planning, Organizing, Leading, and Controlling

Organizing at the level of the organization involves deciding how best to departmentalize, or cluster, jobs into departments to coordinate effort effectively. There are many different ways to departmentalize, including organizing by function, product, geography, or customer. Many larger organizations use multiple methods of departmentalization. A good relationship between the organization and the suppliers is important for an organization to keep a steady following of quality input materials. Suppliers are sources of resources such as raw materials, components, equipment, financial support, services, and Office Supplies. It is considered life-spark of the enterprise which sets it in motion and action of people, because planning, organizing and staffing are the mere preparations for doing the work. We can use the PESTLE model to identify and analyze the factors in the general environment. PESTLE Model covers political, economic, sociocultural, technological, legal, and environmental (natural). Along with these, we can add additional factors that suit the current modern business atmosphere, demographic factors, and international factors. Examples are sales forecasts, supplier price lists, market-related data, employee profiles, and production reports. Organization’s image/goodwillBoth managers and leaders empower their people – but while managers provide resources, leaders provide vision and autonomy. Many companies develop a ‘competitor profile’ to accurately forecast their short-and-long-term growth and profit potentials. If managed properly they can positively change the organization’s policy. But ill-management of the workforce could lead to a catastrophic situation for the company. Organizational Culture

Top 10 Managerial Core Competencies Essential For Success

Implementing values, lead by example to make sure your actions are consistent with what you preach. • The ability to recognize change Business laws protect companies from unfair competition and consumers from unfair business practices. With this end in view, they need to develop an exhaustive customer profile of the present and potential customers. Managers will be in a better position to pragmatically plan the firm’s strategic operations, anticipate changes in the size of the markets, and anticipate demand patterns. At the same time, the growing demand for mobile services led to an expansion of industrial capacity, price wars, lowering of call tariffs, acquisitions, and declining industry profits.Managers in this category are responsible for using the information they gain to make strategic business decisions. A manager must make decisions and solve organizational problems based on the information they receive about the environment. Managers have four fundamental responsibilities.Following are the decisional roles performed by the managers.