Business Management - Assignment
11 Pages2684 Words168 Views
Added on 2021-01-02
Business Management - Assignment
Added on 2021-01-02
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BUSINESS MANAGEMENT
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Describe the functional areas of Chic By Choice and its Hierarchy of Management.................1Why is Communication central to Leadership and Management?.............................................3What are the Current Drivers of Globalisation?.........................................................................4Compare and contrast two chosen styles of Leadership and Management.................................5CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONLeadership and management plays an important role within the working of theorganisation. Chic By Choice is a small-medium sized organisation that rent fresh clothes topeople through online markets. Estimated employees working for Chic By Choice are 146 and itsestimated revenue is 8 Million Dollars. Founders of this online marketing business is Filipa Netoand Lara Vidreiro and they provide access for selecting fashionable and branded clothes. In thisreport, different functional areas and hierarchy of management are explained. Effective inter-departmental communication and current drivers of globalisation are also discussed. Comparisonbetween two styles of leadership or management is given further in the report.MAIN BODYDescribe the functional areas of Chic By Choice and its Hierarchy of Management.Chic By Choice is an online marketplace that allows people to rent fashionable clothes. Itoperates across 15 European markets and provides access of brands like Valentino, MarchesaNotte, Temperley London, Self- Portrait, etc. Hierarchy of management refers to organisationalstructure that allows smooth functioning of business operations (Cheung, Yeung and Wu, 2018).Chic By Choice operates its business operations by using functional structure. Functionalhierarchy of management sets up portion or group according to its purpose or role. Chic ByChoice divides roles and responsibilities to employees according to their knowledge and talents.CEO is the head of the company who looks over framing plans and policies for business andconsidered at top level of management. At middle level of management, there are seniorexecutives, CEO and departmental managers. The lower level of management consists ofworkers and employees.1
Illustration 1: Hierarchy of ManagementSource:(Functional Organisational Structure)Following are explained functional areas of Chic By Choice:Human Resource Management: This is the most important function of every businessorganisation. HRM aims at recruiting and selecting employees who can come up with innovativeand creative ideas that can lead to accomplish overall goals and objectives of Chic By Choice.HRM also focuses on motivating and satisfying employees so that they retain in business andalso put their efforts in right direction to accomplish task. Information Technology: Chic By Choice is an online marketplace, therefore, it requires thesystems that can effectively promote the products of company. IT is a system which allowsinformation usage and communication to Chic By Choice for offering new products and servicesto target markets (Harris and Jones, 2018).Marketing and Sales: This functional area aims at identifying opportunities available in thetarget markets. Marketing function focuses on developing effective advertising strategies andplans that can attract large number of customers and leads to increase sales and profits of thecompany. Company makes sure that marketing mix is used appropriately so that it can lead tobring effective results.Purchase and Production: This functional area of Chic By Choice aims at supervising activitiesrelated to purchase of clothes and its production. It also includes purchasing, supervisingactivities of production, logistics as well. Research and Development:This functional department focuses on identifying needs and wantsof customers, trends in the market place for developing and introducing products accordingly.2
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