MGMT20144 Assessment 1: Management and Business Context Report

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Central Queensland University, Australia
Term –
MGMT20144 Assessment 1
Unit Coordinator:
Lecturer:
Assessment: MANAGEMENT AND BUSINESS CONTEXT
Prepared by:
Student name:
Student
1

Contents
Introduction....................................................................................................................................3
Article 1 Organisational structures or governance....................................................................4
Article 2 Environmental forces.....................................................................................................5
Article 3 Risks confronting the firm............................................................................................6
Article 4 Organisation and business practices............................................................................7
Article 5 The functions of diverse firms......................................................................................8
Conclusion......................................................................................................................................9
References.....................................................................................................................................10
2

Introduction
With the passage of time there are frequent variations that are being observed in the business
environment that tends to affect the work operations in a great manner. The overall assessment
provides and elaborates on the series of the aspects and issues related to the working patterns of
the organization such that to enable the authorities to make a suitable and valuable decision with
respect to the current as well as forthcoming period. The assessment report is in regard to the
appropriate organizational structure and governance along with the series of the risk factors that
emerge from the environmental forces so as to gain the optimistic and undesirable aspects. The
overall report provides a great role of the business authorities to focus on such area such that
suitable decision can be made leading to positive outcomes. The overall report also provides for
suitable recommendations leading to the better grasping of the opportunity.
3

Article 1 Organisational structures or governance
Kim, Sungho, and Kyuho Jin. "Organizational Governance of Inter-firm Resource
Combinations: The Impact of Structural Embeddedness and Vertical Resource
Relatedness." Journal of Management and Organization 23.4 (2017): 524-44. Web.
Retrieved from: https://cqu.userservices.exlibrisgroup.com/view/action/uresolver.do?
operation=resolveService&package_service_id=5441586030003441&institutionId=3441&c
ustomerId=3440
In today's scenario, innovation is a major and fundamental applied concept that is applied within
every organisation whether operating on a small, medium or large scale. For successful operation
and the attainment of the competitive advantage it is essential that the business authority concern
clearly and effectively focuses on the aspects of creativity and innovation. This will tend to
ensure suitable flexibility so as to conform to the needs of the external market environment. In
addition it has been determined that it is essential on the part of the business concerns that to
focus appropriately on the market terms so as to gain the various factors that can lead to the
better grasping of the opportunity.
The article further elaborates that the authority concern must focus on some of the valuable
principles and approaches that can assist in the adoption of suitable variations through a proper
organisational structure. This will provide the authority concern in the attainment the desired
outcomes. Further provided, this will also lead to the attainment of a suitable and valuable
position in terms of the competitors.
In addition, the article highlights the need to continuously scan the environment of the business
so as to upgrade the activities leading to the proper and effective alignment of the demand and
supply factors. As such, more customers can be targeted from a greater market scenario leading
to a successful and strong position.
4

Article 2 Environmental forces
Hermens, Antoine. "Creativity and Innovation Management: The Complex Dynamics of
Shaping Forces." Journal of Management and Organization 24.4 (2018): 451-55. Web.
Retrieved to: https://search-proquest-com.ezproxy.cqu.edu.au/docview/2091248537?
rfr_id=info%3Axri%2Fsid%3Aprimo
The author in the article elaborate and highlight on the need and requirement of the process
related to the change with regards to the managerial aspects for the purpose of the organising the
cultural heritage. In addition the author in this regard not properly focuses on the artistic
technical, scientific or historical meaning. Rather, the core aspect related to the subject matter is
on the suitable and effective identification of the managerial problem that can be faced by the
management concern while dealing with the market operations.
In this regard it is essential on the part of the authority concern to focus on the varied terms of
the market environment so as to gain the positive and negative aspects. This will further assist in
the identification of the series of the opportunity and threats that can assist the management of
the business organisation making valuable judgment on all the facts and aspects leading to the
secured position in the global world.
In addition it has been determined that the authority concern must focus on the suitable
management of the practices rather than the policies. In addition the authority concern must
focus on the inclusion of the financial figures so as to enable a suitable comparison of all the
facts leading to better evaluation. As such, the company can also focus on the formulation of
suitable measures with respect to the managerial issues so as to have better command and
supervision on all the activities.
5

Article 3 Risks confronting the firm
Mousa, Fariss-terry, Bierly, Paul E. III, and Wales, William J. "Different Strokes: IPO
Risk Factors, Investor Valuation, and Firm Survival." Journal of Management &
Organization 20.3 (2014): 348-364. Web. Retrieved to: https://search-proquest-
com.ezproxy.cqu.edu.au/docview/1735406355?rfr_id=info%3Axri%2Fsid%3Aprimo
The recent trends elaborate significant transformation in the field of technology. In addition,
such variations in technology are global. As such the concerned article highlights a significant
role of the leaders who can best apply such technology in the work operations leading to the
retention of the best talent. However, for the purpose it is required that the company concern
appropriately focus on the market terms and aspects so as to implement the variations in the
external environment in the internal environment. This is due to the fact that there are a series of
the risk associated with each variation.
Apart from that the authority concern of the business corporates must focus on the suitable
awareness on the aspects related to the intangible elements within their overall compensation
package. All such factors will provide suitable and effective assistance in the motivation of the
employees. This will thereby lead in the better conduct of the activities with respect to the
operations of the company. Apart, this will assist in the attainment of the appropriate flexibility
leading to the development of the suitable and strong networks that will assist the authority
concern in coping with the profit level variations. As such the article highlights that there is a
great and significant need on the part of the management concern to understand the value of
tangible and intangible assets. This will assist the specialist concern in the better decision making
with respect to the current and forthcoming period leading to the accomplishment of the
appropriate and strong position in the national as well as international level.
6

Article 4 Organisation and business practices
Spraggon, Martin, and Virginia Bodolica. "A Practice-based Framework for
Understanding (informal) Play as Practice Phenomena in Organizations." Journal of
Management and Organization 24.6 (2018): 846-69. Web. Retrieved to: https://search-
proquest-com.ezproxy.cqu.edu.au/docview/2136762027?rfr_id=info%3Axri%2Fsid
%3Aprimo
With the concerned article the author elaborates that an organisation before focusing on the
formulation of the strategy must ensure proper and effective analysis of the market. This will
assist the management concern in the attainment of the suitable and appropriate knowledge with
respect to the customers and the trends of the environmental forces. However, it is determined
that the environment changes the marketplace dynamically over time. As such it becomes a
major and great challenge on the part of the authority concern to forecast the market
environment. In addition, the market environment consists of a series of uncontrollable factors or
variables that primarily include market demand, political and legal forces, technology, and
competition.
As such, it is required that such uncontrollable factors are properly measured, monitored and
analysed with the appropriate and effective use of marketing research and techniques. The
analysis and effective evaluation of such techniques will assist the business concern in the
collection of suitable and viable information leading to the devising of the effective approaches.
In addition, the author elaborates that the formulation of the effective strategy will assist in the e-
learning implementation. This will assist the management of the authority concern in the aspects
of the expansion and diversification leading to a better and elaborated position in the global
world. As such it can be determined that the authority concern must evaluate the aspects of the
environment properly so as to gain proper market intelligence leading to effective planning
structure for the future period.
7

Article 5 The functions of diverse firms
Rohail Hassan. "Contextualizing Comprehensive Board Diversity and Firm Financial
Performance: Integrating Market, Management and Shareholder’s Perspective." Journal
of Management and Organization 24.5 (2018): 634-78. Web. Retrieved to: https://search-
proquest-com.ezproxy.cqu.edu.au/docview/2105031205?rfr_id=info%3Axri%2Fsid
%3Aprimo
The objective of analyzing paper is to sandal in European markets. In the UK and other
European countries transfixed the issues with the global industry of food. It maintains people
issues with the food supply chain. For the companies, the supply chain is a benefit that enables
creativity, cost management and reduces cost. The complexity and length that the supply system
generates offer opportunities for fraudsters to exploit the supply chain. Source chain
management is the merger of activities to control, plan, execute and acquiring raw material. It
integrated execution and planning activities to optimize the information, financial capital and
flow of work. It also includes planning, sourcing, demand, inventory, management, logistics,
transportation and storage. Business strategy has specialized software to create competitive
advantage. Supply chain management is an expensive and complex process. Effective supply
chain management requires collaboration and risk management to communicate between
different commodities. The supply chain is transparent in relation to the directory, it comes
across the report of some valuable lesson. Traceability implementing the determination of key
commodities, full considerate of applicable sustainability issues to commodities, develops
commercial case traceability, take traceability action, engage within with key employees, engage
suppliers and stay the course. Traceability in the supply chain is the ability to determine, trace
and track the goods or substances from converting raw material to finished goods. It applies in
both process manufacturing and discrete industry. Traceability provides few advantages such as
troubleshoot issues and offer the ability to investigate. Traceability also helps to boost the brand
image of an organization.
8

Conclusion
From the overall discussion provided above it can be determined that there are series of the
factors that affect the work operation in a great manner. Such factors are required to be observed
and managed by the authority concern in a proper manner so as to attain the desired outcome.
Further provided, the large corporate house Commonwealth Bank of Australia, Westpac, or the
National Australia Bank are required to properly scan the environment of the market so as to
grasp the series of the opportunity and threats leading to the better work operations. In addition
the overall assessment concludes on the various factors such as organisational structure,
conservational forces, risk confronting the firm, association business practices and the functions
of the varied firms. This will assist the management concern in taking of the suitable decision
with respect to the current as well as future period. As such it is essential that the authority
concern focuses on the proper and effective scanning of the environment so as to attain all the
optimistic and undesirable aspects leading to the suitable and strong position in the national as
well as the international boundary.
9

References
 Kim, Sungho, and Kyuho Jin. "Organizational Governance of Inter-firm Resource Combinations:
The Impact of Structural Embeddedness and Vertical Resource Relatedness." Journal of
Management and Organization 23.4 (2017): 524-44. Web. Retrieved from:
https://cqu.userservices.exlibrisgroup.com/view/action/uresolver.do?
operation=resolveService&package_service_id=5441586030003441&institutionId=3441&custo
merId=3440
 Hermens, Antoine. "Creativity and Innovation Management: The Complex Dynamics of Shaping
Forces." Journal of Management and Organization 24.4 (2018): 451-55. Web. Retrieved to:
https://search-proquest-com.ezproxy.cqu.edu.au/docview/2091248537?rfr_id=info%3Axri
%2Fsid%3Aprimo
 Mousa, Fariss-terry, Bierly, Paul E. III, and Wales, William J. "Different Strokes: IPO Risk
Factors, Investor Valuation, and Firm Survival." Journal of Management & Organization 20.3
(2014): 348-364. Web. Retrieved to:
https://search-proquest-com.ezproxy.cqu.edu.au/docview/1735406355?rfr_id=info%3Axri
%2Fsid%3Aprimo
 Spraggon, Martin, and Virginia Bodolica. "A Practice-based Framework for Understanding
(informal) Play as Practice Phenomena in Organizations." Journal of Management and
Organization 24.6 (2018): 846-69. Web. Retrieved to: https://search-proquest-
com.ezproxy.cqu.edu.au/docview/2136762027?rfr_id=info%3Axri%2Fsid%3Aprimo
 Rohail Hassan. "Contextualizing Comprehensive Board Diversity and Firm Financial
Performance: Integrating Market, Management and Shareholder’s Perspective." Journal of
Management and Organization 24.5 (2018): 634-78. Web. Retrieved to: https://search-proquest-
com.ezproxy.cqu.edu.au/docview/2105031205?rfr_id=info%3Axri%2Fsid%3Aprimo
10