Management and Leadership Relation : Report
Added on 2020-07-23
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Introduction to Asset and MaintenanceManagement
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Table of ContentsEXECUTIVE SUMMARY.............................................................................................................1QUESTION 1...................................................................................................................................11. Defining management and leadership.....................................................................................12. Fundamental element of management and leadership............................................................13. Similarities..............................................................................................................................34. Differences..............................................................................................................................3QUESTION 2...................................................................................................................................41. Asset life cycle of an organisation..........................................................................................42. Stage make great impact on the organisation..........................................................................53. Omitted stage by the organisation...........................................................................................54. Immediate stage which are directly involved..........................................................................55. Immediate stage which are not directly involved...................................................................56. True cost of maintenance in asset acquisition process............................................................5QUESTION 3...................................................................................................................................61. Concept of Total cost of ownership........................................................................................62. Role of maintenance management..........................................................................................6CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7Illustration IndexIllustration 1: Elements of Management..........................................................................................2Illustration 2: Asset Life Cycle........................................................................................................4
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EXECUTIVE SUMMARYManagement is a process which includes various managerial functions such as planning,organising, coordinating and controlling of every activity in an organisation. Assets includes allthose physical and tangible items which have some value (Abiri-Jahromi, Parvania, Bouffard andFotuhi-Firuzabad, 2013). It is essential to maintain the all the commodities so that a firm canmanage its activity by an effective manner. This report presents the relationship betweenmanagement and leadership. It also explained the life cycle of assets in Aston Martin carmanufacturer company UK. At last, it also explained the concept of total cost of ownership androle of maintenance management in an organisation.QUESTION 11. Defining management and leadershipManagement: It is a process which includes proper coordination of each managerialactivity of a business in order to achieve their goals and objectives. It is consider as a basic taskof a business which is mixture of both marketing and innovation activity (Campbell and Reyes-Picknell, 2015). It can be said that, it is a process by which manager of a company can createvarious policies, planning and make proper direction or control on various resources in order topachieve desire goals and objectives.Leadership: It is a activity which is performed buy a person whose main role is to leadthe managerial activity in an organisation. It includes creating a clear or definite vision of acompany, sharing the ideas which is related to the vision, providing information to theemployees and make proper communication with them. Hence, it can be said the whole processcan be performed by the leader in order to achieve organisation's goals or objectives.2. Fundamental element of management and leadershipElements of Management: There are mainly five elements of management processwhich are essential for every kinds of business. These are:Planning: It is a primary function in a managerial process which includes various actionssuch as determining a plan which can be implemented in what procedure, which timing and howor where can be implemented etc. process are included in it.1
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