Introduction to Business - Assignment

Introduction to Business

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
TASK ..............................................................................................................................................3
1. Functional areas and hierarchy of management .....................................................................3
2. Communication central to leadership and management ........................................................5
3. Current drivers of globalisation and its impact on business ..................................................6
4. Compare two style of leadership and management ................................................................7
CONCLUSION ...............................................................................................................................9
REFERENCES .............................................................................................................................10

INTRODUCTION
The business is an idea that involves basic data such as product and services that target
demographic and unique selling proposition which gives as advantage of company in relation to
competitors (Erasmus, Strydom and Rudansky-Kloppers, eds., 2016.). This study is based on
Professional Placement Resources, LLC. Company operates as travel nursing agency. Report
will describe functional areas and its hierarchy of management. It will explain communication
central to leadership and management. Furthermore, assignment will state current drivers of
globalisation and its drivers which impacts on businesses.
TASK
1. Functional areas and hierarchy of management
Functional Areas:
Different functions are performed and managed by different section of business. There is
one of reason for separate business operations into functional areas which is enabled to operate
within areas of expertise. Professional Placement Resource follow functional organizational
structure. There are many functional areas such as management, human resource, finance,
marketing, management, operations etc.
Management:
The role of manager is to supervise performance of other people in the Professional
Placement Resources. There are many activities such as planning, organising, controlling and
leading involve in the management of business (Dunning, 2014). Therefore, managers are
responsible to plan the long and short term goals, organizing the operations, controlling of
activities and lead team for new process of services.
Marketing:
Marketing comprises to determine needs of consumers and design product and services
for meet those wants. Therefore, manager of Professional Placement Resources requires to
marketing for placement of travel nurses and interim leader to hospitals. This marketing
functions involve promoting services etc.
Financing:
This function includes planning and managing funds of firm. Therefore, finance manager
of Professional Placement Resources requires raising funds for placing the qualified travel
nursing and interim leaders for hospitals (Giddens, 2018). They are responsible for raising the

funds for marketing, human resource and technology in the business. Also, they ensure that
planning for both long and short term financial capital needs.
Human Resources:
It is also function of managing the human resource or personnel in the organization. This
function involves planning of human resources, training and development, performance
management etc. It is main activity of any business. HR manager needs to ensure that effective
workforce planning, improving performance of employees in the Professional Placement
Resources.
Hierarchy of Management:
There are three level of management like top level, middle level and lower level
management which is called as hierarchy of management (Lambregts, Beerepoot and
Kloosterman, eds., 2015). All the manager's role is different which depending on skills, strengths
and experience. Each level has various set of jobs and duties for fulfilling goals of organization.
Top level Management:
Top level manager are also known as senior management or executives. Leaders are
setting in top level management of the firm. Top level manager make decisions which are
affecting wholly of Professional Placement Resources. They do not focus on daily basis activities
instead of setting goals and focusing on achieving those objectives. Top level managers are
responsible for execution of firm.
Middle Level Management:
Middle level manager who are working at below top managers. General, plant, regional
and divisional manager are job titles involve in middle level manager. They are responsible for
carrying out objectives which are sett by top manager. The role of middle manager's is to control,
motivate and help for first line manager to accomplish goals of Professional Placement
Resources. Middle managers are more included in daily activities through suggestion and
suggestion and feedback to top manager.
Lower Level Management:
Lower level manager is also known as first line, shop level or supervisors. These
managers have job titles like office manager, foreperson, department manager etc. They are
responsible for day-to day management of employees. First line manager do not set goals for the

firm, they have very strong effect on the organization. Therefore, these managers working
effectively in relation to place travel nurses and interim leaders to hospitals.
2. Communication central to leadership and management
Communication is central to leadership and management in the organization. Successful
in communication help to become an effective leadership in the firm. It is beneficial for leaders
to wholly recognize the nature of their business organization (Ristovska and Ristovska, 2014).
Through effective communication, leaders must take deliberate stages to creative person and
perform in engagement of stakeholder which involves consumers, staff in relation to give support
to Professional Placement Resources.
Employee Relation:
Effective communication is beneficial for build the relationship between leaders and staff
within the organization. With the communication, employees are easily shared ideas and
opinions in making decisions which help to build relationship between staff and leaders.
Employees Engagement:
Effective communication is beneficial for engagement of employees in relation to
achieve vision, mission and goals of Professional Placement Resources. Therefore, this help to
accomplish objectives and gaols of organization (Breevaart and et.al., 2014).
Formulating and Implementing Strategy:
It is necessary to formulate and implement strategies for business. Therefore,
communication is important to build and execute strategies in the firm. Thus, communication is
rarely one of the most challenging leadership skills. Communication is way that begin with
leaders. Ineffective communication happen overlapping activities and conflict in relation to
formulate and implement activities.
Employee Motivation:
Communication is the best way to motivation of employees by leaders in the
organization. With this, leaders are given benefits and rewards for build motivation to staff in the
Professional Placement Resources (Van Dierendonck and et.al., 2014). Therefore, leaders and
staff are easily working together in terms of offering qualified travel nurses and interim leaders
to hospitals.
Interdepartmental Communication:

In this context, effective communication is very advantageous for all departments within
company. For example: It is necessary to communication between human resource and
marketing within the workplace. Without communication, HR manager do not identify that
which kind of job vacancies for marketing positions (Erasmus, Strydom and Rudansky-Kloppers,
eds., 2016). Therefore, marketing manager needs to communicate with HR department to hire
the best candidates for marketing positions. Communication is important not only between HR
and marketing department but also all departments within the organization. Therefore, it is
necessary to leaders in relation to improving their communication skills for motivation,
engagement, setting goals and support for achieve them. Without interdepartmental
communication, there is lack of motivation, trust and respect among the employees.
There are many forms for communicating with all departments such as formal letter,
emails, memos etc. With this, managers are giving all informations to every department in the
Professional Placement Resources effectively and efficiently.
3. Current drivers of globalisation and its impact on business
Globalization stand for global combination of international trade, investment,
advancement technology and cultures. In the business context, change in business from firm
associated with individual nation to one that operates in multiple nations (Dunning, 2014). In
relation to that, globalization is affected by different ways on business. It is driven through
different new development and stepwise changes in the world economy. There are many drivers
for globalization such as:
Advancement of Technology:
It is important factor of globalization. Advancement of information technology and
telecommunication has marked significant in access of information and increasing the activities
of Professional Placement Resource. The enhancement in technology and improve
communication network has expedited the exchanges of services, resources, ideas of expanding
the business internationally (Giddens, 2018). With advancement technology, company easily
provide services to people which can assist to increase profits and market share.
High Competition:
It is also driver of globalization. It is very difficult to gain competitive advantage by any
organization. Continuous raising competition in domestic market which is more difficult for
company in terms of entering into international market. High competition is highly effected on

market share of Professional Placement Resources. Many of companies have accomplished
larger international market shares via mergers and acquisition, joint venture. These are major
factors that have contributed in globalization (Lambregts, Beerepoot and Kloosterman, eds.,
2015). If Professional placement Resource desires to expand their business globally, so that they
are merger their business with other companies. This help to increase profits and growth.
Demand of Customer:
It is main driver to assist globalization. If the level of income and standard of living has
raised, so that demand of consumer has also increased for products. This factor highly impact on
business while income level and demand of consumer has decreased. This directly effects on
profits of organization. Consumers are well awake about services available in other nations
which make to work in association with international players for serving to wants of the
domestic markets (Ristovska and Ristovska, 2014).
Reduction in Cross-trade Barrier:
It is also critical factor of globalization. This impact on business in relation to expansion
of business globally. If services rate is increased in domestic country, so that Professional
Placement Resource do not provide services on international level. It compels tariff and quotes
on the goods and services imported in its nations. In relation to that, changes in rules make
confusion in international business atmosphere. Cross trader relief when government introduce
free trade which is turned as raise growth rate of an economy.
4. Compare two style of leadership and management
Leader is the person who influence people for achieving goals of organization. Leaders
has to select the most effective approach of leadership styles which is based on situation of
business. Leadership style is important for success of team (Breevaart and et.al., 2014).
Management leadership is about determination ways to meet the wants of workers and
companies. There are various leadership styles used by leaders within Professional Placement
Resources such as transactional, transformational, autocratic, democratic etc.
Transactional Leadership:
It refers to emphasis on the transactions between leaders and its followers. Transactional
leadership encourages compliance with existing goals and performance expectation through
supervision.
Transformational Leadership:

It is type that becomes are causes for change in the followers. Leaders act with
subordinates to ascertain the desired change in the company (Transactional and
Transformational Leadership Style, 2017).
Comparison Between Transactional And Transformational Leadership Style:
Illustration 1: Transactional and Transformational Leadership Style
Source: (Transactional and Transformational Leadership Style. 2017)

Basis Transactional Leadership Transformational Leadership
Meaning This leadership style utilise rewards
and punishments for motivating
subordinates.
This leadership style in which
leader apply interest and spirit to
inspire their followers.
Nature Transactional leadership has reactive
nature.
Transformational leadership style
has proactive nature.
Focus In this style, leaders are focused on
planning and performance of people
(Van Dierendonck and et.al., 2014).
In this style, leaders are directed on
innovation in the Professional
Placement Resources.
Working for Transactional leaders are worked for
developing existing culture of
company.
Transformational leaders are
worked for modifying culture of
organization.
Number of
leaders
There are only one leaders working in
group.
There are more than one leaders
working in team.
Style It is type of bureaucratic style of
leadership.
It is form of charismatic style of
leadership.
In this context, transformational leadership style is most suitable in management which is
important to strategic development of Professional Placement Resources. Transformational
leaders with the small company at the leading shot for compulsive goals. Leaders can accomplish
fast success via vision and team building skills of leaders. In relation to, they try to increase
value and morals of employees which help to accomplish goals of workers (Breevaart and et.al.,
2014). Also, leaders try requirement for changes in existence culture of organization through
give vision to their followers and apply modification with dedication of their subordinates.
In this style, leaders work as role model and motivator who offers vision, encouragement
and morale to the subordinates. Leaders inspires people to raise skills and capacities for build
self motivation and promotes innovation to overall Professional Placement Resources. Leaders
who engage with subordinates through focus on higher order integral wants and increase
awareness about importance of special result and new way in which achieve the outcomes.

CONCLUSION
This report has summarized that determining functional areas such as management,
marketing, financing, human resource in the Professional Placement Resources. It has concluded
that top level, middle level and lower level management involve hierarchy organization. It has
discussed that benefits of communication to leaders in various ways such as employees relations,
implement and formulation of strategies and employees engagement in the firm. Furthermore,
assignment has completed that various drivers on globalization such as competition, advance
technology, consumer demand that are influenced on business operations.

REFERENCES
Books and Journals
Erasmus, B., Strydom, J. W. and Rudansky-Kloppers, S. eds., 2016. Introduction to business
management. Oxford University Press Southern Africa.
Dunning, J. H., 2014. The Globalization of Business (Routledge Revivals): The Challenge of the
1990s. Routledge.
Giddens, A., 2018. Globalization. In Sociology of Globalization(pp. 19-26). Routledge.
Lambregts, B., Beerepoot, N. and Kloosterman, R. C. eds., 2015. The Local Impact of
Globalization in South and Southeast Asia: Offshore business processes in services
industries. Routledge.
Ristovska, K. and Ristovska, A., 2014. THE IMPACT OF GLOBALIZATION ON THE
BUSINESS. Economic Development/Ekonomiski Razvoj. 16(3).
Breevaart, K. and et.al., 2014. Daily transactional and transformational leadership and daily
employee engagement. Journal of occupational and organizational psychology. 87(1).
pp.138-157.
Van Dierendonck, D. and et.al., 2014. Same difference? Exploring the differential mechanisms
linking servant leadership and transformational leadership to follower outcomes. The
Leadership Quarterly. 25(3). pp.544-562.
Online
Transactional and Transformational Leadership Style, 2017. [ONLINE]. Available through. :
<https://iedunote.com/transactional-transformational-leadership-difference>.