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Sustainability and Organizational Management

   

Added on  2020-02-24

16 Pages4201 Words111 Views
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Running head: MANAGEMENT THEORY AND PRACTICEManagement theory and practiceName of studentName of UniversityAuthor note
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1MANAGEMENT THEORY AND PRACTICETable of ContentsIntroduction......................................................................................................................................3Description of the organisation........................................................................................................4Theoretical concepts of sustainability.............................................................................................5Theoretical concepts influence managerial practices......................................................................9Recommendations to enhance Sustainability practice...................................................................11Conclusion.....................................................................................................................................12References......................................................................................................................................14
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2MANAGEMENT THEORY AND PRACTICEIntroductionThe management theories and practices are concerned with the collection of various ideasand opinions to set up rules and regulations for managing the business in an effective manner.The management theories and practices can also help the managers and supervisors to use theirknowledge to accomplish the goals and objectives as well as implement effective ways orapproaches to achieve the goals and objectives. The theories and practices of management thuscan be beneficial for managing the human resources of the organization JB Hi Fi and keep thestaffs motivated by allowing them to perform to their potential and meet the quality standards ofthe products and services delivered by the organization in Australia (Jbhifi.com, 2017). Within aprofessional field, it is always essential for the managers and supervisors of an establishedbusiness organisation to provide the most effective framework for managing the strategiesproperly within JB Hi Fi (Bloom et al., 2012). It will help to guide the workforce in the rightdirection for accomplishing the organisational goals and obtain the best production level alongwith better company sales and revenue generation too. The essay will discuss few of the strategic management practices used by theorganisation and various theoretical concepts to sustainability within JB Hi Fi in Australia. Thetheoretical concepts and practices that can influence the managerial practices within JB Hi Fiwill also be illustrated along with the ways of achieving a sustainable business within thecompetitive business environment. Lastly, few recommendations will be provided too forensuring that the sustainability practices within the organisation can bring out positive outcomesthat can both benefit the company and effectively enhance the performances of employees too(Bratton & Gold, 2012).
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3MANAGEMENT THEORY AND PRACTICEDescription of the organisationJB Hi-Fi is a retail organisation that offers consumer goods and services such aselectronic items and is presently one of the most successful and growing business organisationsin Australia. It is a large company within the retail industry, and it found in nearly 200 locationsall over the world. Few of the major products offered by the company are DVDs, Blu ray discs,home appliances, hardware items, mobile phones, laptops, computer accessories, electronicproducts and video games and consoles too (Brigham & Ehrhardt, 2013). The company hasmanaged to create a sustainable place in the market, and this has helped the organisation togenerate revenue of A$4 billion and profit of A$152 million. It has an operating income ofA$221 million, which makes it one of most successful retail companies in Australia (Jbhifi.com,2017). Since its introduction, the company has managed to grow consistently and has evenacquired 70 percent of the chains of Clive Anthony in Queensland. Hills and Stewart chains arealso acquired by the company to enhance its sales by keeping not only limited to Australia, rathermanage its distribution and selling of products and services in New Zealand for a whoppingamount of NZ$17.5 million (Brundiers & Wiek, 2013). Due to the good amounts of the rate of return on investments made, JB Hi Fi has alsoopened a new branch in Sydney in the area of Castle Hill to expand its customer base andincrease the number of customers too. The organisation has not only created a strong marketpresence but also has been specialised in delivering electronic consumer goods that have fulfilledthe quality standards as well as fulfilled the demands and preferences of the customers largely(Carroll & Buchholtz, 2014). In the previous year, i.e., 2016, JB Hi-Fi also created a major dealby acquiring warehouses of The Good Guys in Australia and became one of the largest and mostpopular electronics retailers in Australia (Jbhifi.com, 2017).
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