Introduction to Business Management

Introduction to Business
Management

Table of Contents
INTRODUCTION...........................................................................................................................3
PART A...........................................................................................................................................3
Management................................................................................................................................3
Mintzberg’s theory of management...........................................................................................3
PART B............................................................................................................................................5
PESTLE Analysis........................................................................................................................5
Porter's Five Forces Framework .................................................................................................7
PART C............................................................................................................................................8
Corporate Social Responsibility..................................................................................................8
Hofstede's model.......................................................................................................................10
CONCLUSION..............................................................................................................................11
REFREENCES..............................................................................................................................12

INTRODUCTION
Business management refers to the discipline that is working to organise, analyse as well
as plan different types of business operations. There are a number of different skills required by
business managers at each level and function of business to efficiently run and manage all the
operations in an organisation (Wang and et. al., 2020). In the following report discussions are
made on various factors effecting a business that includes management, business environment
where major focus is put on external environment and its effect on a business organisation and
corporate responsibility. All of these factors are affecting business in a number of ways and
studying these may help businesses to formulate appropriate strategy to achieve all their goals
and objectives in the expected period of time.
PART A
Management
Management refers to administering of an entity or organisation which might be for
business, for a non-profit organisation or for any governmental body (Heath, 2020). Management
can also be described as various steps taken in a process to manage and control people or things.
Mintzberg’s theory of management
Being a manager an individual needs to handle a number of different roles on a daily
basis. They are required to take care of overall tasks and functioning of the organisation. Various
examples can be taken where they need to act as a leader, guide, resolve conflicts, solve
problems, manage resources and so on. Henry Mintzberg developed the theory of management
in 1990 under which there are 10 roles assigned to a manager which are mentioned below:
Category Roles
Interpersonal Leader
Liaison
Figurehead
Informational Disseminator
Monitor
Spokesperson

Decisional Disturbance Handler
Negotiator
Resource Allocator
Entrepreneur
 Figurehead refers to the roles of a manager towards, legal, social and ceremonial
responsibilities. It is necessary that managers are looked upon by people as an inspiration.
 Leader is an important role to be played by manager in which they are looking upon a
group, team or the organisation as a whole to manage their performance effectively.
 Managers also work as a Liaison of the organisation as they are responsible for
networking with internal as well as external contacts and representing organisation in this
process.
 Being a Monitor it is required by managers to find out information which is in anyway
related to organisation industry or in external environment. They also monitor the
performance of team based on their productivity and improvement.
 They work as a Disseminator and communicate all the potential information to
colleagues and team who can use it for their benefits (Wang, S. and et. al., 2020).
 The duty for Spokesperson of organisation is played by manager as well. In this role they
need to communicate development of organisation to the people outside the organisation.
 They manage the business as Entrepreneur solving problems and brining in new
innovations.
 Any barrier or dispute is handles by them acting as Disturbance Handler in any such
cases.
 They act as Resource Allocator making sure that all the resource in organisation is
efficiently managed.
 Job of Negotiator is performed by them when they take part in negotiation processes of
department, team or functions.
There are a number of different tasks that are to be performed by management in an
organisation. The Mintzberg’s theory helps to identify all those roles. These roles are also
divided under three broad categories that are interpersonal, informational and decisional all of
which are to be performed by the management effectively to run a business and attain al the
objectives of organisation effectively.