Challenges Faced by Managers and Impact of Stakeholders on Organizations
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Added on 2020-12-03
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This article discusses the challenges faced by managers in organizations and the impact of stakeholders on organizations. It also covers decision-making models, ethical rules, and external forces affecting organizations.
Challenges Faced by Managers and Impact of Stakeholders on Organizations
Added on 2020-12-03
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ONLINE ASSESSMENT ANSWER BOOKLETSIM ID:10222114DATE: (25/11/2020)NAME (as reflected in your SIM e-Card):Celine Piong Jing LingCLASS NO.: L01RPROGRAMME:Management Foundation StudiesMODULE CODE & TITLE:IOM - 1079_204312 page bookletINSTRUCTIONS TO CANDIDATES:1.Fill in the required details as stated above.2.Read all instructions on the cover page of the question paper carefully.3.Begin each answer on a fresh sheet.4.Write the question number at the top of each page.5.Any candidate found using, or attempting to use, unfair means will be reported and disciplinary action will be taken.QuestionsAnswered(students to listbelow)For Lecturer’sUse OnlyMarksTOTALMARKS
Student AnswerFor Lecturer’sUse OnlyMarksQuestion Number: __1 (a)___The first challenges is to build competitive advantage.Is the abilityto perform better than its competitors.Airbnb is more efficient andinexpensive accommodations.Managers need to be innovative and be responsive to customers’needs and wants.For example:Airbnb can produce good quality andservice better than their competitor.This method can be apply invarious country.In addition,the second challenges is maintaining ethical and socialresponsible standards.An organization has an obligation to protectthe interests of its stakeholders.Airbnb slashes 25% of staff becauseof the coronavirus pandemic crushes the travel industry.The third challenges is maximizing the contributions of a diverseworkforce.Manager should know how to motivate and maximize theskills,knowledge and experiences of a diverse workforce.Mustestablish sound human resource practices and policies that do notdiscriminate against employees.For example:Airbnb need todevelop,implement and maintain ongoing training.The fourth challenges is utilizing new information technologiesefficiently and effectively.Airbnb has transformed global travelusing digital technology to connect millions of guests with privatehosts.The last challenges is practicing global crisismanagement.Organizations need to manage crises properly andminimize the damage.Airbnb reduce the number of employees.Page 1 of 12
Student AnswerFor Lecturer’sUse OnlyMarksQuestion Number: _1(b)______The first impact of stakeholders is stockholders who provide the organization with financial capitals.As such,the organization has an obligation to protect the interest of its stockholders in the form of returns on investment.When Airbnb earning are low,more financial leverage results in higher losses for stockholders.Second is managers.Represent and make important decisions for theorganization.It is because they carry the responsibility for aligning the performance of employee.Third impact of stakeholders is employees.They should be given fair treatment.Employees desire attractive salaries and benefits,safe and healthy work environment and opportunity for growth and advancement.For example:salary will be deducted and some slashesby Airbnb.The fourth impact of stakeholders is customers.Customer count on the organization to provide them with quality products that are safe and reliable,and at fair price.Example:reduce the cost of companyAnd stay/remain competitive.Last,is community,society and nation.They large affected by the practices of the organization and its manager.Page 2 of 12
Student AnswerFor Lecturer’sUse OnlyMarksQuestion Number: ___2(a)____Classical decision model assumes that managers are logical andrational and that they make decisions that are in the best interest ofthe organization.Yes,it is.First is a clear defined problem.This model assumes thatthe decision-maker has clearly set goals and knows what is expectedfrom him/her.Next is decision makers have access to complete information.Canidentify and evaluate all alternatives rationally and logically.Third reason is decision makers can derive at the best solution to theproblem.Lastly,the goal is clear and well defined.Page 3 of 12
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