Foundations of Business Management

Foundations of
Business
Management

Table of Contents
INTRODUCTION.....................................................................................................................................4
MAIN BODY.............................................................................................................................................4
TASK1........................................................................................................................................................4
Impact of COVID-19 pandemic on organizations...................................................................................4
Issues appear at LTR which are related to remote working situations.....................................................5
Recommendations to make adjustments or changes in the LTR organization.........................................7
TASK2........................................................................................................................................................8
Reflective theory.....................................................................................................................................8
CONCLUSION........................................................................................................................................10
REFERENCES........................................................................................................................................11
Books and Journals:...............................................................................................................................11

EXECUTIVE SUMMARY
Managing business includes knowledge and training relating to planning, executions,
supervision, and analysis of a business enterprise. They includes some business principles which
strengthening the business practices and they have a dynamic curriculum that allows to pursue in
any situation. Such principles teach the skills of fundamental that are need to run the business in
an effective way even in COVID-19 pandemic. This situation has shaken up the whole world and
impacts negatively where everything is restricted by government. Companies are shut-down their
gates as per the new norms and policies and to prevent everyone from spreading of such virus.
Proper training and motivation is provided by the managers to work remotely but some might it
stressful whiles other are happy as they get time to spend with their families and loved ones.

INTRODUCTION
Every business must have one or more owners whose main role is to invest time and
money in the business. When a business is built, it is only the founder who sparkle the ideas of
business and bring together the resources which are needed to turn the business idea into
practical (Cho, H. S., Lee, J. S. and Moon, H. C., 2018). Overall meaning of foundation of
business management is to understand the proficiencies and attributes of manager and leaders.
The aim of this report is to consider on the Luton Town Residencies (LTR) which is a housing
association company established in Luton. The goal of the association is to serve suitable
housing to the susceptible individuals. LTR possesses and manages various housing blocks,
divided into general purpose housing and supported purpose housing (Shonkoff, J. P., Slopen, N.
and Williams, D. R., 2021).
MAIN BODY
TASK1
Impact of COVID-19 pandemic on organizations.
With COVID-19, the whole world is fighting a health pandemic and economic pandemic.
The COVID-19 pandemic has brought fast-moving and unforeseen variables some which
existing crises plans and team members were not prepare to handle such situation (Galavotti, I.,
2019). Many of the companies including LTR are currently dealing with the distressing effects of
such virus. From 2020, it has changed the whole game plans for business from manufacturing to
marketing in the wake of the deadly virus.
Remote Working: With the restrictions of government in place and lockdown of non-
essential services, LTR has shifted towards remote working to ensure that such disease does not
spread among team members and within the LTR association so that operations can be continue
as usual. It has been studied that many of the executives responded to shift their business
operations into fully remote working environments while others have decided to postpone
business activities or operations to reduce social contacts.
Use of Technologies: Technologies cannot prevent the effects of this disease but it
provides safeguard and prevention from spread; it can educate, warn and empower those on the
ground to be aware of the position. But such outbreaks provides a new way of learning,
managing and fighting such unexpected diseases that can actually kill millions of people in the
whole world. In current times, technologies cover lot of things such as mobile phones, robotics,
analytics, artificial intelligence, cloud, 4G/5G or high speed internet browsing. It has make the
organizations to use and test the various innovative approaches to COVID-19 pandemic response
(Gehringer, T., 2020). It helps to fight misinformation between members of the organization
about the fatalities, medicines, vaccines, treatment options, diagnosis, government policies and
many more that creates anxiety and panic. In order to reduce such type of mishappening
companies like Facebook, Google and many more are working hard to guide people with verified
information such as published by WHO or government or by local authorities.