EMBA 7120: An Introductory Note on General Management – Management Assignment

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Management Assignment:

General management integrates all of the functional areas with a view to making decisions that are coherent and consistent for the entire firm. The meaning of general management can vary. In a small, one-person business, the chief decision-maker is the all-around general manager responsible for long-term planning as well as daily “firefighting.” There is no delegation of these responsibilities to specialized
staff. In larger firms, the general management tasks are essentially the same but more complicated, given the size of the organization, and key decisions are shared by a management team. Titles used to describe the individuals vary from company to company: chief executive officer (CEO); chief operating officer (COO); managing director; vice-president administration. In this note, the title “general manager” will
refer to the individual or people who are primarily responsible for the business or a major unit of the business. The general manager differs from a manager of one of the functional areas in that the general manager is responsible for integrating the functional areas. For example, in assessing a firm’s capabilities, a general manager would need to take into account all functional areas, including financial resources, human
resources and operational capability. The general manager also needs to have a marketing perspective to assess customer needs. As companies move to drive accountability to lower levels in the organization, with profit centres that manage both revenues and costs, more and more managers need to shift from a functional perspective to a general management perspective. One of the key mechanisms that general managers use to integrate and coordinate the functional areas is a strategy. Strategy, whether an explicit plan or implied from a set of actions, represents the choices made about how scarce human, physical and financial resources are applied in opportunities that enable and
sustain high performance.

Industry/External Analysis: Assessing What You Need To Do

Assessing what a firm needs to do requires analyzing the industry in which the firm operates to answer three key questions: What are the key threats and opportunities? What are the key success factors in the industry? Is the industry attractive for future investment? Threats and opportunities are specific areas of analysis that stand out as having significant implications for the company. Key success factors are the
aspects of the industry analysis that surface as the most important and critical elements that affect company performance. Industry attractiveness, as will be described later, relates to the overall profitability of the industry. The early warning signs for threats and opportunities in the industry come from the political, economic, social and technological forces in the industry, called PEST factors. These broad factors have a direct or indirect impact on the key players in the industry-suppliers to the industry, competitors in the industry and
customer demand.

 

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