Introduction to Business

Comparison two selected styles of leadership or management and one style suitable for modern global company5 CONCLUSION 6 REFERENCES 8 INTRODUCTION Business is the action of making one living or creating money through producing, purchasing and selling goods and services. Functional areas of business and it hierarchy of management The part of growth of business is the preparation of separate divisions that functions with particular direction and expressed route. In order to that, There are many functions within business like human resources,marketing,finance, research and

Introduction to Business

Table of Contents
INTRODUCTION...........................................................................................................................1
QUESTIONS ..................................................................................................................................1
1. Functional areas of business and it hierarchy of management ...............................................1
2. Communication central to leadership and management.........................................................3
3. Current drivers of globalization and its impacts on business .................................................4
4. Comparison two selected styles of leadership or management and one style suitable for
modern global company..............................................................................................................5
CONCLUSION ...............................................................................................................................6
REFERENCES................................................................................................................................8

INTRODUCTION
Business is the action of making one living or creating money through producing,
purchasing and selling goods and services. It is the any action or business entered into for profits.
It doest not refer to company, partnership or gave such formal entity. Having business name does
not separate the business organization from the owner (Erasmus, Strydom and Rudansky-
Kloppers, eds., 2016). This study is based Harvey Water Softener. Company sell the number one
water softener which is removal magnesium and calcium minerals from water supply through
procedure of ion-exchanges. Report will describes functional areas and it hierarchy of
management. It will explain ways of communication central to leadership and management.
QUESTIONS
1. Functional areas of business and it hierarchy of management
The part of growth of business is the preparation of separate divisions that functions with
particular direction and expressed route. They are organized according to certain business
requirements and these divisions will differ depending on the kind of business being practiced.
To understand functions areas of business is very necessary for businessman (Mikkelson, York
and Arritola, 2015). In order to that, There are many functions within business like human
resources, marketing, finance, research and development, production and so on within the
Harvey Water Softener.
Human Resource:
It is the most essential asset in the business. The heart of company lies on its people. The
success of Harvey Water Softener relies fully on the hands of staff working in the business.
Human resources department is accountable in hiring the suitable candidate with needed ability,
qualification and experience in relation to accomplish the goals and objectives of Harvey Water
Softener (Archer and et.al., 2018). They are accountable for defining the salary and wages of
various position in organization. Also, they include in training workers for their development
within the firm.
Marketing:
Marketing and promotional actions are the best modes to interact with targets consumers
for them to be able to know products and services of organization. Excellent marketing and
promotional actions will drive long term success, profits and increasing the market share. This
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divisions is accountable for promoting the business to generate sales and aid to grow Harvey
Water Softener. These functions includes making different marketing approaches and planning
promotional campaigns (Jiang and Men, 2017). Also, they accountable for monitoring the
challengers actions which happen in the marketplace.
Finance:
Cash flow is the force of any business. It is essential to handle the cash outflows and
inflows of organization. Any of firm can not operate without money. If the company can not
manage money appropriately, they will lose control of Harvey Water Softener. This division is
accountable for accountancy, examination, preparation and manage finances. Also, they are
accountable in producing financial statement within organization.
Production:
It is wider for business that goods are in good quality and free from faults. The
production division is obsessed with manufacturing the goods where raw material transferred
into finished outputs through series of procedure of production (Epple, 2018). Their function is to
assure that inputs are created into finished good efficiently and effectively as well as in good
quality. Production divisions can also maintain the optimum stock level in the Harvey Water
Softener.
Research and Development:
Invention is the important to future of every company. Through it, it will open new
competitive edge for the organisation. This department acts as the accelerator in the invention
procedure. They will be accountable for invention in goods, making its design and style of water
softener. For searching new modes of manufacturing their goods through being updated with
regards to the latest technical and economic tendency.
Hierarchy of Management:
The company can have different managers across many titles, authority levels and degree
of management hierarchy which involves lower, middle and top level managers (Goryakin and
et.al., 2015).
Top Level Manager:
The board of director, president and CEO are instances of top level manager. These
managers are accountable for controlling and perception the whole company. They evolve
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objectives, strategic plans, company policies or regulations as well as make judgements on the
direction of Harvey Water Softener.
Middle Level Manager:
General, branch and department managers are all illustrates of middle level managers.
These level managers commit more time to organisational and directional activities than top-
level administrative (Hierarchy of Management, 2018). Their duties can be emphasized as:
discussing info and policies from top management to lower administration in the Harvey Water
Softener.
Lower Level Manager:
Supervisors, section leads and foreman are illustrates of lower level administration. The
are accountable for assigning employees activity , guiding workers on daily operations, assuring
quality and quantity of production as well as making suggestion within the Harvey Water
Softener.
2. Communication central to leadership and management
Communication is very essential part of leadership and management within the business.
Leaders have to interact the vision and goals to their team so as to motivate them to accomplish
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Illustration 1: Hierarchy of Management
Source: (Hierarchy of Management, 2018)

them with efficiency (Nguyen and et.al., 2017). Effective communication is important for
managers in the Harvey Water Softener so as to work the basic activities of management like
planning, organizing, leading and controlling. Interaction aids leaders or managers to perform
their jobs and duties. It serves as relation for planning. All the important info must be interacted
to managers who in-turn must interact the plans, so as to apply them. Effective communication
is building block of organization, its leaders or managers in effective manner.
Promote Motivation:
Through communication, leaders and managers promotes motivation to their followers or
employees within the Harvey Water Softener. Communication encourages motivation through
disclosure and informative the workers about the activity to be done the ways, they are
performing activity and modes of improve their execution (Archer and et.al., 2018).
Source of Information:
Through communication, leaders or managers follow source of information for making
decision procedure of company. Therefore, leaders or managers needs to effective communicate
with the employees through different sources (Goryakin and et.al., 2015). It aids recognising and
measuring alternative choice of activity within Harvey Water Softener.
Relationship Building:
It is the very necessary to build the relationship among employees and leaders within the
organization. Without communication, leaders or managers do not interact with their employees
and making the decisions as well as solve the problems of them (Epple, 2018). Thus,
communication is the very essential to leaders or manager in relation to build the relationship
with employees in the Harvey Water Softener.
3. Current drivers of globalization and its impacts on business
Globalization means to modification in the world where moving away from self-
contained nations and towards more integrated world. Globalization of business is the
modification in business from firm linked with single nation to one that operates in multiple
nations. It is the procedure of communication and combination between people, firms and
government worldwide (Nguyen and et.al., 2017). It has developed due to advances in
transportation and communication tech. It is economic procedure of communication and
collection which is linked with societal and cultural views. In order to that, there are different
drivers or forces of globalization that impact on Harvey Water Softener. Such as follows:
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Technology:
Due to globalization, there are is forceful modification in global business after
technological advancement. As per medium companies like Harvey Water Softener, technology
advancement is very useful for providing the best quality products and services to consumers.
This can aid to increase the profits and sales of organization (Archer and et.al., 2018).
Technology is most essential aspect for medium business in relation to increase sales and profits
of business.
Improvement in Communication:
Due to globalization, it is easy to communicate with stakeholder of business like
employees, consumer and others. Communication is the largest obstruction in the international
business. As compared medium company like Harvey Water Softener, communication
improvement is very beneficial for business in relation to growth and development.
Economical Trends:
Under develop country have to depend only on imports and developed country consider
in exports. The economy tries to develop economic standards which raise opportunities of
international trade (8 Driving Forces Of Globalization, 2018). Also, globalization help to raise
profits which directly impact on international expansion. This can aid to developing the economy
of nation.
Consumer Needs:
Customer is the king of present international market. Different goods and facilities are
demanded by the customers and seller is expected to satisfy their requirements and wants
ultimately this evolves chances for global business due to globalization (Goryakin and et.al.,
2015). Therefore, globalization is more useful for medium sized company like Harvey Water
Softener in relation to increase sales and profits of business.
Product Development Cost:
It is the value which is involved to develop product. Each and every company seeks to
decrease to high extent. Through technology and globalization, there is taken lower cost of
development of product by the medium sized company like Harvey Water Softener. This can aid
to increase the profits and sales of company (Holten and Brenner, 2015). With the help of it,
company make efforts to growth and development in the industry.
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4. Comparison two selected styles of leadership or management and one style suitable for
modern global company
Leadership or management style are behavioural practices which leader follow to effect
the attitude of their followers. The mode they provides directions to their subordinates and
motivates them to achieve the given goals (Erasmus, Strydom and Rudansky-Kloppers, eds.,
2016). In order to that, there are many leadership styles like autocratic, democratic,
transformational, transactional and Laissez-Faire which are utilised by leader or manager of
Harvey Water Softener.
Difference between Autocratic and Democratic Leadership Style:
Basis Autocratic leadership style Democratic leadership style
Meaning It is the one line of demarcation exist
among leader and their followers as well as
all the judgements are taken by leaders
individually (Mikkelson, York and
Arritola, 2015).
As compared to, it suggests to
kind of leadership in which
leader shares decisions making
power and other duties with
team members.
Behaviour
position
This leadership style is task oriented. As opposed to, this leadership
style if relation oriented.
Control There is high level of control. As compared to, there is lower
level of control (Goryakin and
et.al., 2015).
Suitability This leadership style is suitable for
unskilled, uneducated subordinates.
Besides that, this leadership
style is suitable of experienced
and professionals.
Authority In this style, there are centralized authority
of leaders.
As compared to, there are
decentralised authority of
leaders.
In order to that, democratic leadership style is most suitable for leaders in the Harvey
Water Softener. It is the very open and collegial style of running team. Democratic leadership
style is also called as participative leadership style. Thoughts move freely between team and are
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discussed open (Goryakin and et.al., 2015). Democratic leadership style is required in dynamic
and fast changing atmosphere in the Harvey Water Softener. This style means facilitating
conservation, boost people to share their thoughts the combine all the available info into the best
potential decision. The democratic leader or manager must also be able to interact that
judgements back to the team to bring unity the plan is selected. Democratic leadership offer great
deal of flexibility to follow to better modes of completing activity when situations changes
frequently (Holten and Brenner, 2015). Thus leadership style can bring the best out of an
experienced and professional team. It provides on their abilities and talents through letting them
shares their views instead of simply expecting then to change. If the leaders adopt this leadership
style, so that it will aid to make effective decisions of Harvey Water Softener.
CONCLUSION
This report has summarised that Functional areas of business like human resource,
marketing, finance, production, research and development as well as hierarchy of management
such as top level manager, middle level manager and lower level manager within the
organization. It can be concluded that Current drivers of globalization technology, improvement
in communication, economical trends, consumer needs and product development cost that impact
of business. It can be discussed that leaders or manager follow the democratic leadership style
within the business. This can aid to improve the performance and productivity of business
through making effective decision making and high employees involvement in it.
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REFERENCES
Books and Journals
Archer, J. and et.al., 2018, November. Connecting patient experience, leadership, and the
importance of involvement, information, and empathy in the care process. In Healthcare
management forum (Vol. 31, No. 6, pp. 252-255). Sage CA: Los Angeles, CA: SAGE
Publications.
Epple, A., 2018. Calling for a practice turn in global history: Practices as drivers of
globalization/s. History and Theory. 57(3). pp.390-407.
Erasmus, B., Strydom, J. W. and Rudansky-Kloppers, S. eds., 2016. Introduction to business
management. Oxford University Press Southern Africa.
Goryakin, Y. and et.al., 2015. The impact of economic, political and social globalization on
overweight and obesity in the 56 low and middle income countries. Social Science &
Medicine. 133. pp.67-76.
Holten, A. L. and Brenner, S. O., 2015. Leadership style and the process of organizational
change. Leadership & Organization Development Journal. 36(1). pp.2-16.
Jiang, H. and Men, R. L., 2017. Creating an engaged workforce: The impact of authentic
leadership, transparent organizational communication, and work-life
enrichment. Communication research. 44(2). pp.225-243.
Mikkelson, A. C., York, J. A. and Arritola, J., 2015. Communication competence, leadership
behaviors, and employee outcomes in supervisor-employee relationships. Business and
Professional Communication Quarterly. 78(3). pp.336-354.
Nguyen, T. T. and et.al., 2017. Effect of transformational-leadership style and management
control system on managerial performance. Journal of Business Research. 70. pp.202-
213.
Online
8 Driving Forces Of Globalization. 2018.[ONLINE]. Available through. :
<http://managementstudies.in/8-driving-forces-of-globalization/>.
Hierarchy of Management. 2018. [ONLINE]. Available through. :
<https://courses.lumenlearning.com/boundless-business/chapter/types-of-management/>.
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