Management in Practise Assignment
Added on 2021-04-17
21 Pages4063 Words33 Views
Running head: MANAGEMENT IN PRACTISEManagement in PracticeName of the StudentName of the UniversityAuthor Note
MANAGEMENT IN PRACTISE1Executive SummaryThe purpose of this assignment 2 is to shed light on critical thinking of Aureconmanagement beyond tradition. As PESTLE, porter’s five model, VRIO framework are traditionaltools of analysing management. Those tools are not sufficient in order to give the outline toAurecon for acquiring an uncontested space in their industry. Hence, in the assignment 2,VUCA, 7-S framework and blue ocean model are followed in order to analyse Aureconmanagement critically. Though the analysis it is found that HR department and financialdepartment of that organisation are very strong for the accomplishment of Aurecon projectsuccessfully. They also have dynamic engineers. However, the organisation cannot develop sucha brand value or consumer value so that no organisation in the industry can be able to competewith Aurecon. One of the major strengths of an organisation is its technological innovation.However, the organisation needs to focus on such things that enables them to be cost and timeeffective. In terms of operating New Zeeland, the organisation requires to save energy at lowcost budget.
MANAGEMENT IN PRACTISE2Table of ContentsIntroduction......................................................................................................................................3VUCA..............................................................................................................................................47-S Framework................................................................................................................................8Blue ocean.....................................................................................................................................14Comparison between Aurecon Singapore and KTC Civil Engineering and Construction Pte Ltd.......................................................................................................................................................16Dynamic capabilities.....................................................................................................................16Conclusion.....................................................................................................................................17Reference list.................................................................................................................................18
MANAGEMENT IN PRACTISE3IntroductionNew marketing world is uncertain and complex. Technology and innovation encompassall aspects of business. Hence strategic human resource management of an organisation needsalways to pay concern on the external and internal variables regarding organisational business. Inorder to identify what are challenges and potentialities in a particular business, it is necessary totake PESTEL, porter’s five model, VRIO framework into account. However, the mentioned toolsare not sufficient for investing human resources and strategic management within anorganisation. This particular assignment is designed for giving a critical thought in developinghuman resource management for Aurecon which is one of the leading organisations in the fieldof engineering and infrastructure. The organisation is widely spanned across Singapore. Theassignment 1 of this research is focused in discovering external and internal capabilities ofAurecon. Therefore, in that assignment PESTEL, porter’s five force model and VRIO frameworkhave been used. It is found that Aurecon is integrated and successful organisation towardachieving organisational mission, vision and objectives. However, these three models are notenough to think dynamically about solving marketing challenges. On the other hand, the abovementioned models are traditional and common to be used in the research of marketingmanagement. Therefore, the chosen approach in assignment is not the ‘best way’ in terms ofincorporating latest management thinking. The purpose of this assignment 2 is to have latestcutting-edge solutions in order to deal with the management challenges of Aurecon. In theassignment 2 which marketing tools are applied, are VUCA, 7-S framework, blue ocean. It isbecause this models are effective to find out dynamic capabilities of an organisation the best.Hence major question of this research are mentioned below.“How can Aurecon increase profit?”
MANAGEMENT IN PRACTISE4VUCAVUCA is a managerial acronym of trend. As opined by Macket al. (2015), it stands forvolatility, uncertainty, complexity and ambiguity. It is one of the exclusive management tools toconflate four particular kind of challenges which to face requires four different kind ofresponses. VUCA helps Aurecon to understand what are the constant variable factors in theirbusiness. On the other hand, the application of this model let Aurecon gets always ready to facean uncertain situation in business. Every business has to deal with a number of complexities andissues. In order to cope up with those complexities and issues, the analysis of this model will bereliable for ensuring constant growth of Aurecon. Sometimes it is seen that being manifested byambiguity an organisation cannot make its goal clear. Therefore, the organisation cannotunderstand how to make a situation favourable for increasing profitability. In business. Theframework of VUCA will contribute Aurecon to gain a critical understanding its marketvariables, market uncertainty, complexity and ambiguity (Krämer 2016).
MANAGEMENT IN PRACTISE5Figure: VUCA Model(Created by Author)ComplexityAs a resource-scarce island, the high securityof energy is mandatory in Singapore in termsof accomplishing building project. However,the organisation has less contribution insaving energy for future use. It is one of themajor issue to continue production at all timesin any way (Packowski 2013). Aurecon needsto take an effective initiation in order to saveVolatilityAurecon being an engineering sector needs toconsider contact entries of new InformationTechnology and Communication (ICT) whichcontributes information and analysis inprojects. There is correlation betweentechnological innovation and CSRresponsibilities (Burgartz and Krämer 2016).Therefore, with the continuous advancement
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