PRINCIPLE & PRACTICE OF MANAGEMENT International Case : Carrefour — Which Way to Go? How should Mr. Durant assess the opportunities in various countries around the world? Mr. Durant‚ the new CEO since 2005‚ embarked on the new strategy by offering 15percent new products in its hypermarkets and 10 percent in its supermarkets. Moreover‚ he wants to employ more staff‚ extend the operating hours in certain hypermarkets‚ cutting prices‚ trying small stores‚ and pushing down decision making. Mr
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MGT/230 – Management Theory and Practice On April 20‚ 2010‚ approximately 4.9 millions of barrels of oil (Telegraph‚ 2010) spilled into the Gulf of Mexico immediately after an explosion that resulted in the loss of 11 lives and a total cost of 17.6 billion dollars. According to‚ Andrea Thompson of Live Science‚ “ROV robot subs‚ manufactured by a company called Oceaneering‚ have been an integral part of the effort to control the leaking oil.” The result of this tragedy has been top-down
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Case 1: Introduction of the Case: Abstract: Carrefour was the second largest retailer of consumer goods and groceries worldwide‚after Wal-mart. The company pioneered the concept of hypermarket in their homecountry‚ France‚ as early as 1960’s.However‚ towards late 1990’s; Carrefour saw a de-cline in their French hypermarkets owing to certain unfavorable government regula-tions and competition from hard discount stores. Carrefour introduced a series of strategic initiatives in an effort to revamp
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Examination Paper Principles and Practice of Management Section A: Objective Type (30 marks) Part one: Multiple Choices: 1. A plan is a trap laid to capture the ________. Ans.: A) Future 2. It is the function of employing suitable person for the enterprise Ans.: B) Staffing 3. ___________ means “ group of activities & employees into departments” Ans.: D) Departmentation 4. This theory states that authority is the power that is accepted by others Ans.: A) Acceptance theory
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safety Needs 3. Social Needs 4. Esteem or ego needs 5. Self – actualization needs. 2. Define Management By Objectives. According to John Humble - Management By Objectives or “MBO is a dynamic system which integrates the company’s need to achieve its goals for profit and growth‚ with the manager’s need to contribute and develop himself.” In other words‚ MBO is a dynamic system of management; it recognizes the need of the manager to achieve and to grow on the job and it integrates the individual
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Q1. Discuss the significance of organizational culture in the performance of an organization explains the various factors included under OCTAPACE. Ans. Organizational culture is the collective behaviour of humans who are part of an organization and the meanings that the people attach to their actions. Culture includes the organization values‚ visions‚ norms‚ working language‚ systems‚ symbols‚ beliefs and habits. It is also the pattern of such collective behaviours and assumptions that are
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Four Functions of Management Desiree Corbin Program Capstone May 26‚ 2013 Laura Pogue Abstract Managers fill import roles in the work place‚ they have a unique role to play with multiple and continuously evolving responsibilities. The purpose of this report‚ to provide the reader with the four functions of management theory. Four Functions of Management Theory Every business establishment will have a least one manager. Some businesses many have more than on manager. The role of the
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Peter Drucker had four requirements for entrepreneurial management in the article “the New Venture”. They are: a focus on the market‚ financial foresight‚ building a top management team long before the new venture actually needs one and decision of the founding entrepreneur role in his team. Firstly‚ companies might not be able to foresee that the products they originally designed or planned to sell have been switched to another products or services they did not expect. The company will be successful
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1 MANAGEMENT PRINCIPLE‚ MANAGEMENT THEORY‚ AND MANAGEMENT PRACTICES MGMT310 American Military University Monique Outerbridge 2 Every organization utilizes different types of management techniques‚ practices‚ theories and principles. Each organization utilizes their own practices as it correlates to their organizations’ mission‚ goals and culture. What works for one organization may not work for the next. In my opinion‚ I believe that multiple management practices can work for an organization
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List and explain the four basic functions of management and provide an example of how a manager would use each function in their work. In order to be a good and effective manager one must possess four basic characteristics. He or she must be able to plan‚ be organized‚ have good leadership skills‚ and have control of their work environment. Management is explained by Robbins & Coulter (2007)‚ as someone who coordinates and oversees the work activities of others so that their activities are
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