UGB107- Introduction To Business Management

UGB107- INTRODUCTION TO
BUSINESS MANAGEMENT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
PART A...........................................................................................................................................1
PART B............................................................................................................................................3
Pestle analysis..............................................................................................................................3
Porter’s Five Forces Analysis .....................................................................................................5
PART C............................................................................................................................................6
Corporate responsibility practices................................................................................................6
Corporate malpractices and Philanthropic behaviour..................................................................7
Hofstede's distinguished five dimensions of national culture......................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
Business management is the responsibility of the business for undertaking the operational
activities, contracts and also helping the employees for increasing their productivity. Under the
management of the business it is also important to train the new employees so that they can
understand the organization. In this project management will be explained with the help of
Mintzberg's theory. This project will help in understanding the external factors for Mark and
Spencer company. This project will also analyse the Porter five forces for determining the
competition of this company. With the help of this project the CSR and the national culture will
be understood.
MAIN BODY
PART A
Management can be defined as the art of directing and controlling people of an
organization for achieving a desired common objective or goal by optimum utilization of the
resources available. The main objective of management is to produce maximum outputs with
minimum efforts by using the best combination of the human, technical and financial resources.
Management includes functions like Planning, Controlling, Directing, Staffing, Budgeting,
Reporting and Organizing (Matsuo, 2019). The Mintzberg theory of management splits
management roles into different parts, encourages individuals to develop their interpersonal
skills, so that the responsibilities and works can be divided among the employees according to
their skilfulness and the task can be completed in relatively less time. Mintzberg explains
management as more of an art than science. It can be defined as science because the managers
should have proper knowledge about the theoretical concepts, basic management principles and
it can be defined as an art because it requires the managers to apply their personal skills and
creativity to use human talent and to fix organizational issues (Boddy, 2017).
As the managers have to perform a wide variety of roles such as keeping an eye on
activities of the competitors, keeping track of the changes in the economic environment,
analysing if each employee's task is fulfilled, etc. managers are not able to perform some
important activities. So, Mintzberg highlighted ten managerial roles and grouped them into three
parts. It emphasizes that every individual should enhance their interpersonal, informational and
decision-making roles. Mintzberg intended to provide a better way of working than the
traditional management practices. However,it's not always possible for the managers to plan and
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execute their activities in an orderly manner. They should be flexible and adaptable to the quick
changing needs of the environment.
Identifying the roles, the managers should be a,
Figurehead:
By maintaining good relations with the subordinates and should represent good status of
their company professionally (Henegama, 2021).
Leader:
By maintaining harmony in the organization, resolving disputes and inspiring the
employees and building their morale.
Liaison:
It includes exchange of the information among other departments and outside the
company.
Monitor:
A manager should observe the changes in the economic environment, collect relevant
data for the development of the organization.
Dissemination:
This includes the flow of communication both ways i.e. giving useful information to
employees and welcoming feedback.
Spokesperson:
A manager should have complete information about his company's brand to relay
information and represent the company externally.
Entrepreneur:
A manager should inspire the team members for innovative ideas and by organizing more
team building activities.
Disturbance handler:
A manager should resolve conflicts, provide good working environment and make sure
that everything runs smoothly in the organization.
Resource allocator:
This means allocation of resources in such a way that there is minimum wastage with the
best utilization of resources.
Negotiator:
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