Essay on Global Challenges

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  • Topic: Management, Royal Bank of Scotland Group, Bank
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MN1026

Global Challenges for Business, Management & Leadership

Individual Assignment

Neringa Balaikaite

ID number:11067082

Tutor: Azadeh Tavousian

Date: 25 May 2012

CONTENT PAGE

1.0 Introduction.............................................................................................. 3

2.0 Application

2.1 RBS and globalisation....................................................................... 5

2.2 PESTEL.............................................................................................. 6 2.3 Porter’s five forces.............................................................................. 8 2.4. SWOT............................................................................................... 8 2.5. Management at RBS......................................................................... 9 3.0 The Challenge – Globalisation

3.1. Impact on RBS.................................................................................. 9 4.0 Recommendation........................................................................................ 10 5.0 Conclusion.................................................................................................. 10 6.0 References.................................................................................................... 11

1.0 Introduction

Nowadays the effective management of people is even more important for organisational survival and success in a growing global and competitive environment. How organisations manage their people has significant impact on their performance. According to Mullins (2005) “the effective management of people takes in the context of the wider environmental setting; including the changing patterns of organisations and attitudes to work”. Management aim is to build organisation, that work in the sense that they effectively and efficiently use available resources to create value. According to Boddy (2008) management is “the activity of getting things done with the aid of people and other resources”. Good manager creates value in many different ways, through educating employees, motivating them and as well understanding customer needs. Furthermore, Henri Fayol (1969) has adopted the following definition of management: “to manage is to forecast and plan, to organise, to command, to co-ordinate and to control”. Forecasting is examining the future and drawing up the best plan of action. To command means maintaining activity among the organisation and to co-ordinate means binding together, combining and harmonising all activity and effort. Controlling is seeing that everything occurs in conformity with established rules and regulations (Fayol, H., 1969). Managers aim is to deliver results not only figure, but also focus on the entire organisation growth. Magretta (2002) has pointed out “underneath all the theory and the tools, underneath all the specialized knowledge, lies a commitment to performance that has powerfully altered our economy and our lives”. Organisations are changing dramatically and in same time they are taking new forms. Today’s increasing competition forces organisations to become more flexible and technology enables to work in new ways. With all this changes organisations demands greater initiative and responsibility from their management and models of management keep evolving.

Quinn et al. (2003) proposed Competing Values Framework, which claims that there are four main models of management, which offers different perspectives on management – rational goal, internal process, human relations and open system models, where overall framework relate the main models of management to each other. Organisations face the tension between control and flexibility and also between the external and internal focus (Boddy, D., 2008). As shown in figure 1 the successive models are...
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