Fundamentals of Senior Management Resit term 2 2023-24 Deadline: Monday 18th March 2024 5pm Assessment: PortfolioPortfolio Portfolio activity 1 (Marks 10%) - Identify a recent (in the last 2 months) example of an External factor(s) influencing on an organisation’s activities. Your discussion should include module theory, and needs to be referenced. Word count 350 words No company can function alone. There are a lot of things outside the office that can affect how well it works. Modern innovations in technology and shifts in policy on taxation, interest rates, and minimum wages are a few examples. These are known as external influences in the business world. Things like the state of the economy, the regulatory landscape, new technologies, and big world events are examples of external variables that have an impact on a company's bottom line. Technology is now seen as a factor influencing many aspects of a company's operations, including manufacturing, sales, and customer service. In the long term, a corporation may gain an advantage over its competitors by using technology to reduce time and labour expenses while increasing efficiency. Automation, online shopping, and digital media are three crucial aspects of corporate technology. When we talk about social variables influencing businesses, we're referring to shifts in customer preferences, habits, and outlooks, all of which have the potential to impact financial outcomes. Consider the growing concern among modern customers for climate change and pollution as examples of environmental challenges. Companies in the retail and technology industries are under particular pressure to implement environmentally friendly manufacturing and waste management practices as a result of this. An economy's health depends on the health of its businesses. A robust economy enables companies to expand more rapidly, while a thriving business community improves the economy as a whole (Paais and Pattiruhu, 2020). Entrepreneurial growth is thus very sensitive to economic fluctuations. A change in aggregate demand, which impacts economic activity, can be brought about by changes in tax, interest, and inflation rates. For instance, when tax rates are lowered, people and families have more money to spend on products and services. As a result, output increases and more jobs are generated, leading to increasing demand. Business activity increases, leading to a thriving economy. When planning a company's structure, administrative theory is a must-have tool. In order to assess how external circumstances affect a company's operations, the theory provides a thorough explanation of the functions and duties of management (Zhang et al., 2020). Portfolio activity 2 (Marks 15%) - Identify a recent (in the last 2 months) example of Stakeholder influence on an organisations activities. Your discussion should include module theory,. and needs to be referenced. Word count 400 words Decisions, goals, objectives, operations, sales, expenses, and profitability are some areas where stakeholders may have an impact on a company. Because they are the ones who ultimately decide how the firm will operate and how much money will be needed to get it off the ground and running, owners have the greatest say in the matter. What an organisation does, decides, or does not do can have an influence on its stakeholders. It is a method for determining how a company's actions have influenced the many entities impacted by those actions (Liu, 2020). All four of these groups investors, workers, consumers, and suppliers are considered key constituencies in any given business. Communities, governments, and trade groups are now also considered part of the notion of corporate social responsibility, which has grown in popularity in recent years. The actions of organisations are currently being significantly impacted by both workers and consumers. Those that do business with a company have a vested interest in its success and have considerable sway over its decisions. Customers are those who buy products or use services offered by the company. In most cases, they interact with the company's frontline sales and marketing staff, whose job it is to convince people to buy from the company. Customers and clients have an impact on a company mostly through their purchasing decisions, as this is how the firm usually makes its money. A company may, for instance, create a whole new product line. Certain goods from this range may be purchased by the majority of its consumers (Gregory et al., 2020). Consequently, the company may opt to stop making those goods that didn't sell well and instead concentrate on making these successful ones. This indicates that consumer tastes and preferences have a significant role in organisational decision-making. Additionally, there are several sorts of clients or consumers. There are two types of people: those who utilise the product in its final form and others who use the goods of the company for other purposes. Employees, as contrast to investors, are those who receive compensation for the value they provide to an organisation through the work they do for it. Staff members range from entry-level workers to upper-level executives like the CEO. An employee's personal sway over a company typically grows in direct proportion to their rank inside the company. As an example, the company's chief executive officer and managing director are responsible for making important choices on a frequent basis. Stakeholder influence theory describe the interaction between the business and customers and employees that playing an important role in influencing organizational activities. Theory argues that a company must develop importance for all stakeholders (Liu, 2020). Portfolio activity 3 (Marks 15%) - Identify a recent (in the last 2 months) example of organisational leadership and how this leader has played a role in the performance of the organisation. Your discussion should include module theory, and needs to be referenced. Word count 400 words Organisational leadership is shown by a wide range of individuals, including chief executive officers (CEOs), army generals, political party leaders, school superintendents, department heads, and team coaches, among many more. Every group or organisation needs a leader to keep everyone on the same page. Organisational behaviour is significantly influenced by leadership. It does things like establish priorities and guidelines, act as an example for workers to follow, communicate clearly and persuasively, gather input from all relevant parties, make decisions, handle change, assess performance, shape company culture, and encourage ongoing education and improvement (Klus and Müller, 2020). Leadership is critical to organizational success and performance. Good leadership stimulates team members and makes strategic decisions that boost development and creativity. An example of satya Nadella’s leadership is being perfect for this context, from the past two months, Satya Nadella's leadership has kept Microsoft on track (Linkedin.com, 2024). Microsoft CEO Satya Nadella's inventive leadership has boosted the company's performance. Satya Nadella's management style is examined using module theory, specifically transformational leadership. Transformational leaders motivate their employees by laying out the company's future and their participation in it. This theory is shown by Nadella's inventive, inclusive, and long-term leadership. Microsoft has made great strides in various fields since Satya became CEO. The corporation has improved its cloud computing and AI utilization. Azure cloud services and Microsoft AI platforms are only two of Microsoft's many achievements that have catapulted it to the top of the IT industry (Novet, 2024). Nadella drove these advancements because he understood technology's potential. Tesla Inc.'s performance over the previous two months indicates Musk's organizational leadership. Tesla CEO Elon Musk has transformed the automotive business with his creative ideas and long-term aspirations. Tesla leads the EV sector because of its innovative, risk-taking, and aggressive leadership style. Module theory, particularly transformative leadership, exposes Musk's management style. UMassGlobal.edu (2024) A vital purpose, vision, and commitment to organizational goals motivate followers. Musk motivates Tesla staff and stakeholders to work on sustainable energy and transportation. Musk's leadership style emphasizes innovation and technology. Tesla's EVs have improved performance, range, and sustainability under its visionary CEO's leadership. Model S, Model 3, Model X, and Model Y are Teslas. Tesla has succeeded due to the CEO's willingness to take calculated product development risks and push technological limitations (Advisorycloud.com, 2023). Musk's strategic decisions have also influenced Tesla's performance. Consider Tesla. Strategic investments in gigafactories and battery technology increased production, lowered costs, and improved market position. Strategic Leadership emphasizes aligning organizational strategy with environmental opportunities and challenges. This is fair since the plan relies heavily on sustainability and vertical integration. Musk's Tesla leadership is known for his resilience and market adaptability. Musk remains flexible by deploying supply chain management tactics and increasing Tesla's product range despite supply chain delays and global economic turmoil. Musk's development and management of SpaceX and SolarCity reflect his leadership (Ian, 2021). His ability to unify interdisciplinary teams to accomplish a goal demonstrates adaptive leadership. This philosophy values adaptability, inventiveness, and speed. Transformer, strategic, and adaptable organizational theory characterizes Elon Musk's Tesla leadership. Tesla has succeeded because he can inspire, create, focus on innovation, make excellent judgments, and endure. Due to these features, Tesla dominates the renewable energy business. Portfolio activity 4 - The topic is: Ethical Challenges in doing business globally. (Marks 20%) In your portfolio you can individually reflect on the feedback from the presentation and consider what you will do going forward in terms of improving your approach to working in a group and presenting your work. If you did not complete the presentation you should reflect on why this did not occur and what you would do differently next time. Please ensure that you refer to a Learning Model for examples Gibbs Reflective Learning 1988 ( see attached guidance), your discussion needs to be referenced. Word count 400 words Global leaders and corporations face ethical concerns. Group work, presentation, and feedback promote ethical decision-making and global business performance. The Gibbs Reflective Learning Model (1988) helps analyze experiences, identify improvements, and implement them, according to Main (2023). Evaluation of group and individual performance and presentation feedback are needed before implementing this method in global business ethics. International business ethics are concerned with cultural diversity and ethical relativism. Cultural and moral norms produce economic disagreements. Workplace conduct varies by culture. Some activities are acceptable in one culture but not in another. Cultural ignorance and insensitivity should have been mentioned after the lecture. Language, beliefs, and attitudes toward other cultures are prejudiced. The Gibbs Reflective Learning Model helps us grasp its bounds, how cultural variety affects ethical decision-making, and how to increase our cultural competency. The 2022 fair trade mainstreaming shows ethical issues in competitive global markets where profit overrides morality. Labor, environmental, and bribery offenses are unethical. According to the speech, short-term gains encourage immorality. This knowledge helps individuals reassess their ethics, values, and decisions. Individuals should reflect on their experiences, become self-aware, and create improvement goals under Gibbs' Reflective Learning Model. Study ethical topics, collaborate with experts or mentors, or advocate for company-wide ethics. Solving ethical issues requires communication and collaboration—feedback after the lecture suggested improving cooperation, communication, and teamwork. Using the Gibbs Reflective Learning Model, examine group dynamics for positive and negative traits. Improve fruitful teamwork by identifying its barriers. Several methods enhance collaborative ethical decision-making. Clarifying roles is the most incredible way to avoid confusion and work quickly. Honest communication allows for idea and opinion exchange, which promotes decision-making by enhancing knowledge. A friendly group makes everyone feel comfortable sharing their opinions. Finally, several views improve decision-making (Hyatt & Gruenglas, 2023). Get feedback from project mentors, coworkers, and stakeholders to improve presentation and collaboration. International business ethics need caution. The process includes accepting criticism, self-evaluation, and development planning. Gibbs's Reflective Learning Model improves group dynamics, global business strategy, and decision-making. Portfolio activity 5 (Marks 20%) - Identify a recent (in the last 2 months) example of how organisational functions (marketing, operations, HRM and Finance) have collaborated to make an organisation successful. Your discussion should include module theory. Word count 400 words The performance of a business is often determined by how well its many departments, such as marketing, operations, human resource management (HRM), and finance, communicate and work together. A company's performance has increased over the last two months due to collaboration across organizational divisions. Module theory stresses integrative management and cross-functional interaction. This intriguing case study examines the teamwork of a famous IT company's marketing, operations, HR, and finance departments. The new line is for eco-conscious clients. Collaboration improves organizational performance by integrating several functions. Module theory promotes strategic interdepartmental collaboration. Dissolving departmental barriers and fostering crossdepartmental collaboration is crucial. Collaboration across operations, marketing, HR management, and finance was necessary for IT business success. Over the last two months, Amazon's marketing, operations, finance, and HR departments have cooperated nicely (amazon.jobs, 2024). Everyone's efforts and collaboration made Amazon Prime Day a success. Module theory emphasises interdisciplinary collaboration for corporate success. Amazon's divisions worked together on Prime Day to prove the theory of effective collaboration (Galetti, 2023). Using targeted commercials, social media marketing, and email marketing, the marketing staff made the Prime Day campaign successful. They focused on generating customer interest, attention, and engagement before the event. Market research examined customer preferences for eco-friendly and sustainable goods. The approach incorporates marketing. For the new product line, tight operational coordination allowed sustainable production, decreased supply chain environmental effects, and eco-friendly components. Marketing and operations worked together to enhance inventory management, streamline procedures, and speed up manufacturing for the new product line owing to demand (Debutify, 2024). Effective marketing and operations coordination created high-quality products, delighted customers, and on-time delivery. People management and organizational culture in HRM influenced collaboration. The business ensured that sustainability was understood. They actively sought and educated sustainability experts. Innovation and sustainability were encouraged. Their collaboration on the new product line was helped by the finance department's financial analysis, planning, and investment decisions. They worked with marketing to develop ROI-maximizing pricing strategies based on the company's industry position and trends. By effectively performing many organizational activities, the firm improved its socially and ecologically conscientious brand image, market reach, lucrative product, and customer feedback. As seen below, management integration and cross-functional collaboration provide organizations with a competitive advantage and maintain profitability. When using an RBV method, marketing, operations, HR management, and finance work effectively. To win, this method emphasizes using one's skills and resources. Coordinated operations and asset usage offered the company an edge over rivals. Current IT business collaboration exhibits effective management and long-term goals. Innovation, operational excellence, marketing, operations, HRM, and finance abilities boost performance and competitiveness. Portfolio activity 6 (Marks 20%) - Identify a recent (in the last 2 months) example of the challenges faced by senior managers in today’s organisations and the tools they might use to overcome these challenges. Your discussion should include module theory/concepts re performance management/improvement. Word count 400 words Modern senior managers encounter issues that need strong leadership, effective decision-making, and many methods. Senior managers have addressed issues with performance management and improvement initiatives in recent months. Senior management needs help with fast digital transformation and technological advances. Competing now requires data-driven techniques, digital platforms, and new technology. Top managers must monitor digital disruptions, handle complex technical settings, and utilize technology to develop and grow their organizations, according to https://www.facebook.com/esoftskillscom (2023). From the cases of past two months, one issue for hotel CEOs is the global epidemic. Travel restrictions, changing consumer preferences, and unanticipated demand have caused senior management operational issues in maintaining tourist happiness and safety (Simon-kucher.com, 2024). Module theory illuminates performance management and improvement issues. Performance management tools like balanced scorecards, engagement surveys, and data analytics platforms help senior managers track and improve employee performance. The executives of a luxury hotel chain asked workers about job satisfaction, challenges, and ways to boost morale and performance (Abdi, 2024). This method kept the team engaged despite pandemic challenges. Module theory also suggests performance management and improvement to fix these issues. Performance management comprises creating objectives, assessing performance, offering feedback, and upgrading systems and procedures to achieve strategic goals. Balanced scorecards, KPIs, and performance management dashboards help top managers improve technology (Harvard et al., 1992). These technologies let top managers track progress, detect challenges, and gather data to make technology investment, acceptability, and implementation choices. Senior management of a global retail firm utilizes KPIs to analyze the efficiency of its digital initiatives in the face of digital disruption. Online revenue, consumer interaction, and the effectiveness of digital marketing are key performance measures. Critical performance indicator data inform management of risks, trends, and opportunities. They can confidently change digital transformation strategies. Senior managers need help with organizational complexity and change. Senior managers face several hurdles when companies expand globally. Dissimilar marketplaces, cultural norms, governmental limits, and stakeholder expectations complicate matters. The situation's complexity makes it difficult to make choices, communicate, connect with people, and align objectives across departments and locations. Senior managers benefit from performance improvement efforts such as leadership development programs, change management frameworks, and organizational reform techniques. Kotter and Lewin's 8-step change management model is one example of strategies that help with organizational transformation (Malik, 2022). Funding leadership development assists senior managers in solving complex organizational difficulties, such as conflict resolution, strategic decision-making, and crosscultural communication training. Culture, leadership, and peer learning improve senior managers' performance. These tools aid team managers with diversity, global issues, and management. Engagement, succession, and talent management are senior managers' concerns. Senior managers must nurture future leaders, increase employee engagement, and implement influential people management to expand the business. Any business that appreciates workers must follow these standards. Senior managers ' answers include talent development initiatives, employee feedback surveys, and performance management talent analytics. Talent analytics improve hiring, training, and succession. Organizations enhance these areas by considering performance trends, workforce demographics, and talent shortages (Boatman, 2022). Modern businesses are complex, and people management, change management, leadership skill development, and technology make senior managers' tasks more challenging. In a changing workplace, top managers boost performance and succeed. Talent management can help. Change management frameworks are another option. Development in leadership is advantageous. Last but not least, performance management tools. References Abdi, N. (2024). 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