Management and Business Context Psychology & Marketing

Question: Discuss about the Management and Business Contextfor Psychology Marketing. Answer: Introduction The management and business unit provides the base to organizations, and the people who work in them, the structure of operation and the outcome that those organizations produce. Both public and private sectors are considered to take an overview of the discussion. Equally, the paper will define the core terms of the module and give theoretical perspective and the concepts. The discussion will also touch on the both prime purpose in profit maximization and non-profit organizations (Vilniaus, 2013). The module will critically analyze the issues related to business and management structure, internal factors that shape the business that effects on a business decision making. The paper will emphasize the deep insight of the major domestic and international contextual factors and how they affect the business structures and strategy (Price, 2015.). Critical Issues in Business and management Context. The items range from the workforce, strategic planning as well leadership issues. A significant business and administration issue refer to the problem or opportunity that is acute to the overall achievement of the firm (Oldman Tomkins, 2011). The critical issues can be determined in two or three-fold: whether the problem is directly related to the core organizational function: whether the issue affects a significant number of laborer directly or indirectly; and whether the problem is unfavorably affecting the clients or shareholders that can cause a break in regulatory agreement. If the action on such an issue is equivalent to the overall achievement of the business, it comprises that the matter not only is reflected for its criticality but also its strategic consequences. Some trade and management issues involve team building (Price, 2015.). Workers require understanding what the stake are, and how to play the game in the organization. The issue mostly faces the new managers who have not enough experience to know the team. The new managers require support by provided with a clear vision and proper communicating. The mission and vision of the company should be elaborative to them. The human resource should in place to assist the organizations staffs the main reason for the existence of the company as well as the main objectives. The issue majorly spread due to employees fail to understand the business objectives, the companys single sales and marketing position, brand promises, operating environment and market strategies (Spedding, 2009). Another issue includes the staffs need to know how they can make the contribution to the business vision. Although not all workers agree to with the vision, they should be able to align their work with the organization objectives. The performance assessment should be done aiming towards contributing to the set goals. The managers should let their employees understand how their work fits into the larger picture for the organization and the clients or customers. Managers are failing to create the need to belong. Managers in the businesses should enhance the positive environment that improves the traits you like the workers to display. Different teams will have different needs. For instance, a team of employees that is primarily Cs will feel rewarded by challenges, rather than personal appreciation while an S group may worth a structure that supports work-life balance (McDonald, 2013). Rogue spending from hiring managers. If the organization employ managers whom they feel they are not competent with workforce management through internal resources, they expect them to take their initiative to work with an outside staffing salesperson. Instead, the managers should be proactive about setting up an approved salespeople with discussed and evaluated rates. The mandate for managing the workforce can be lifted off the organizations team, and accredited with accumulative fill ratios and saving the organization money (Moorcroft Caton). Another major management issue is contractor retention on timeline-based projects. The issue arises when staffing for a project on a tight timeline, meaning there is small wriggle room for any contractor to leave the project. A lot of time is taken to replace a qualified contractor and this attribute to cost the business much. Instead, the company should make it a priority to preserve dealings with each contractor. The company should work with a staffing agency to ensure the contractors have qualified skills needed. The best staffing will offer training choices and solutions as part of the array (Salvi Tanaka, 2011). Many businesses have too many requirements over too many verticals. The overwhelm requirements span various job types and skill that the company has set. The organization having recruited for the positions that their staffs fail to understand hence creating such problems. Instead, the business should identify the workers team and strengthen and set the priorities straight. The company can make sense to bring on a particular partner that can take rights of obtaining candidates for those more hard needs. The process will free the business and keep the needs comfortable with everyone and good at finding. Talent shortage in many businesses. The management face shortage of workforce due to lack of active job seekers in the market and recruiting dormant staffs is challenging. Internal Factors that Impact on Business Decision Making Every decision the business make is influenced by some factors either internally or externally. The decision, therefore, follows that they must critically address the issues in the business. Besides, the decision made affect the primary objective of the company particularly profitability. The managers must make eschew making a decision in a vacuum which leads to interdepartmental hitches. It is imperative to understand fundamental factors that affect business internally which will help the company and the staffs plan for better adjustments for sufficient progress. Return on investment. The main factors that influence any business decision making are the impact on profitability. The company can quantify profitability in many ways, that is, by calculating a return on investment. Return on investment refers to the sum of benefit the business can obtain or lose by undertaking an event. Additionally, by evaluating the return on investment, the company understand better which way can offer a better investment (Vitezic? Knez-Riedl, 26th-28th May 2005). Brand impact. Any business must involve a decision on how to market their products. The might ought to advertise and sell at any price the company will agree, have an impact on your image. If the company can increase its sales by a large margin does not mean it should do it if the sales signify a fall at full price. The company might opt to add a new product to the line which unfit in with other products can show a meaning to customers that the business no longer concentrates in a particular sell hence destroying the brand. The company must consider what their customers may think when they make decisions to the public (Aguirre-Rodriguez, 2014). Impact on resources. Every business must determine the profit benefit from a possible decision, and consider the general result on the sales, human resources, accounting, and production and information technology employee. The decision of taking an employee to other activities might hamper the profit opportunities. Equally, if the company overburden the workers, some of the essential employees will walk away from the business. Finally, the company must view the expensive costs for making and selling a product, review the effect it brings to the business operation. Opportunity cost. Every company must analyze cost-benefit principle. The business management may decide to forego the opportunity for another which is cost-effective. For instance, the company may opt to use radio advertisement rather than T.V ads since they may not be budgeted. When the management decides to purchase machinery that increases the production, the business foregoes getting bonuses. If the firm decides to recruit new customers, they may provide less client service to existing customers. The important issue for companies is to consider crucial decisions for the money which are not used to pursue plan or project (Zabukovec, 2015). Policies and procedures. Many businesses have dignified policies and procedures which have been established to resolve common challenges and give direction to the management on decision making. For instance, many companies have acknowledged disciplinary process which direct managers through a process of solving issues with workers (Andzelic Dzakovic, 2011). Domestic and International Factors that Affect Business Structure and Strategy Business structure and strategy defines the framework they use to highlight their powers and communication processes. The structure usually involves guidelines, obligations, and rules. Some of the organization structure of a business include: Business strategy can factor in the internal influences that affect business. High profile business have smaller organizational structures in that they can react to changes in the business environment faster than other businesses. New ventures struggle to identify business strategy creating organizational culture (Leitch, Hazlett, Pittaway, 2012). Business management style. The international contextual framework can play a role in a business organizational structure. Flexible external factors continuously varying consumer desires or behavior is often more stormy than stable environments. The more conservative managements approach, the less prone to use the debt to increase profit margins. However, an aggressive management may opt to grow the business rapidly, using significant amounts of debt to upgrade the progression of the companys (Simo?n, 2012). In the strategic planning of business, the managers must anticipate, recognize and deal with change in the external environment such as climate, economic, technology political, legal, competition, and media. The external factors are not controllable although the business managers may put some measure of control according to how the business will react to dynamics in its external environment (Ferner, Quintanilla, Varul, 2011). Conclusion Over the paper, the paper has entailed deep insight on the leading tips of the module. It is, therefore, imperative for the every business manager to consider the application of the theories and concept of the business and management context. The business should critically put consideration on the internal impact to the activity during decision making. Both domestic and international factors that influence business structure and strategy should be observed and checked to boost business progression. References Aguirre-Rodriguez, A. (2014). Cultural That Impact Brand Personificatin Strategy Effectiveness. Psychology Marketing, 70-83. Andzelic, G., Dzakovic, V. (2011). Evaluating the impact of environmental factors on the international competitiveness of Small and Medium sized Enterprises in the Western Balkans. African journal of business management, 1253-1265. Ferner, A., Quintanilla, J., Varul, M. Z. (2011). Country-of-origin effects, host-country effects, and the management of HR in multinationals : German companies in Britain and Spain. 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