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(solved) Processes of Management

   

Added on  2020-10-04

13 Pages4067 Words37 Views
MANAGEMENT
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Table of ContentsINTRODUCTION...........................................................................................................................1Problem statement/definition ..........................................................................................................1Analysis .........................................................................................................................................4Recommendations ...........................................................................................................................8CONCLUSION ...............................................................................................................................8REFERENCES................................................................................................................................9
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INTRODUCTIONManagement is an art. It is getting things done by other. Management always plays a vitalrole in any organisation. The processes of management involves planning, organising, staffing,directing and controlling. Effectiveness in such processes helps in attainment of organisationalgoals. An enterprise main challenge is optimum utilisation of available resources. It usuallyconsist of human resources, financial resources, and technological resources. There are variousissues arise in management of a company. The problem solving skills and ways to tackle suchissues decides where a company stands in terms of its rivals. Oman is a country which dependsmainly on income generated from oil and gas industry. Oman oil is facing many challengesregarding staff turnover and profitability. Staffs are unproductive and inefficient. There areproblems with respect to operation cost, business growth and poor talent management. Costincurred on various activities needs to be evaluated and monitored. Planned budget can play ahuge role in such task. Also retaining and attracting talent in organisation is the main function ofhuman resource department. Management should also work for improving efficiency of theirhuman resources by training and developing them. Human resources are life blood of anyorganisation. They make an enterprise competitive. Thus, staff satisfaction is vital forperformance improvement of a firm. PROBLEM STATEMENT/DEFINITION Oman oil is a firm wholly owned by government of Oman. It is a national petroleuminvestment enterprise found in the year 1996 by government. The company works in oil and gasindustry. Firm also invests in the generation of power, energy transport, refining of oil andmanufacturing of petrochemicals. Oman country's economy depends mainly on oil and gasindustry which contributes around 90% of revenue. Performance of Oman oil will definitelyaffect the income generation for the government. Firm is facing challenges with regard toincreased staff turnover. There are issues regarding cost of operations, de-growth and poor talentmanagement. Retaining and attracting talent is one of the major tasks of human resourcemanagement. It is the life blood for an organisation. Satisfaction of employees is necessary. Ahighly motivated and satisfied employee contributes more to the organisation rather than anunsatisfied one. It plays a keen role in deciding the profitability of a firm. 1
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