Hello Buddies, Today, we’ll discuss the choices and want for correct Management. We start having a couple of basics in the Characteristics of a good Management.
The choices of a good management decisions vary considering the variety of proper activity considered. Corporate-level decisions are often characterised by and also the greater chances, cost, and potential profit, greater requirement of versatility, and longer timeframe horizons. Such decisions include a choice of the organization, dividend policies, reasons for extended-term financing, and priorities for growth.
Characteristics of Strategic Management, Functional level decisions implement the overall strategy formulated within the corporate and business levels. They might require action-oriented operational issues and so are relatively short-range and periodic risk.
Functional level decisions incur only modest costs since they depend on available sources. They’re certainly adaptable to ongoing activities and so might be implemented with minimal cooperation.
And, Business-level decisions help bridge decisions within the corporate and functional levels. Such decisions are less pricey, harmful, and potentially lucrative than corporate-level decisions, but they are more pricey, harmful, and potentially lucrative than functional-level decisions.
Common business-level decisions include decisions on plant location, marketing segmentation, geographic coverage, and distribution channels.
Important characteristics of a good decisions are
Characteristics of Strategic Management over Proper Management decisions.
- Non- programmed: – proper decisions are unique and rare. They deal with uncertain and non-routine problem situations since they’re complex anyway.
- Future-oriented: – Proper decisions are future-oriented. They are made according to predictions and projections. They are concerned about the extended-term direction and scope in the organization.
- Dynamic: – They are dynamic anyway. They occur in the altering atmosphere. Altering political, economic, socio-cultural, legal, and technological forces raise the complexity of a good decisions.
- Top management-oriented: – Proper management decisions are produced with the top control of the firm. The, philosophy, and expectations of top management greatly affect proper decisions. So, the correct decisions are top management-oriented.
- Competitive Advantage: – Proper decisions help in gaining competitive advantages available on the market by looking for unique sources and core competencies.
- Proper fit: – Proper decisions match individuals activities and sources in the organization while using options inside the atmosphere.
- Commitment: – proper decisions are extended-term objectives in the firm and involve the extended-term commitment of enormous amounts of sources.
- Choice: – Proper decision is about making choice from among the proper alternatives. It is a choice one of the road to action for your extended-term future.
Requirement for Proper Management
- Enhance business performance.
- Effective and Optimum Utilisation of Sources
- Reduce uncertainty.
- Change management.
- Participative management.
- Meet competition.
- Promotes Motivation and Innovation.
- Self-help guide to Organisational Activities