Plan for managing business functions
Business management is critical aspect for the success of any business. For success of a company business functions must be effectively managed. In the case of TechSci, the management of business functions includes proper management of business goals. TechSci should have detailed management, marketing and operational plan. These plans are essential for effective delivery of services. Therefore, it would be essential for the company to have a well elaborate metrics to measure goals and objective achievement. According to Paul ( 2015), understanding these aspects is essential in streamlining the business management. The management will deploy the use of other people to get things done.
The management of daily operation of the company would be done by the CEO and decision regarding the operation to be made by the board of directors. The decisions are then convey to the rest of the employees by the CEO of the company. Therefore, the management of the business would involve planning, operational, organizing, directing and controlling to ensure that the company achieved its main goals. The staff would be in charge of provision of support and management of departments of the organization. Each department will have a competent manager reporting to the director at the head office of the company. Though it practices vertical leadership in its operations, it adopts the functional strategies to make sure that each department and regional offices of the company is operating independently. The functional management ensures there is effective result in orders of accountability to offer good result in the market and other area of operation.
TechSci has a hierarchy. Its organizational structure is mainly focusing on functional of different departments within the organization. The purpose of utilization functional structure is because the organization is large and therefore, there are multiple departments or layers within the company. The structure of TechSci is will also depends on the functions as opposed to location. According to Grimsley (2015), hierarchical structure of an organization contributes to efficient management of business. It determines the flow of information and therefore, most business decisions made depend on the structure of an organization CITATION Jac15 \l 1033 (Morgan, 2015). TechSci employees hundreds of people from around the world, and it would be very impossible to have one people has keep strict supervisor on all of them. This is the reason hierarchy structure would be the best organizational management structure for the company. With hierarchical structure departments, regional offices provide efficient management for the successful operation of the company. It is therefore, important to point that the company utilizes different level of authority and vertical link between the subordinate and superiors. In TechSci the information flows vertically and it practices democratic type of leadership which gives every employee an opportunity to contribute to the development of the company. The top most or senior employee at TechSci is the Chief Executive officer (CEO), The CEO is responsible for the daily management or operation of the company.
In this venture different stakeholders would be involved to ensure that the goals and objectives set are achieved. The key stakeholders would be the customers, board of directors, staffs, government and partners. The company intends to partner with firms providing ICT services and customers center worldwide to make it easy for the company to provide efficient services to customers. Therefore, the key stakeholders would be involved in every aspect of the implementation of the venture. The drafting and implementation of the venture would be done by the project manager. A project manager is senior employee in charge of implementation of an organization plans. Therefore, the duties to ensure that the project (venture) is efficiently implemented until the company becomes operational would be done by the project manager.
TechSci advisor board plays a critical role in the management of the company. The advisory board of the company is composed of several experts from different fields to provide management advice to the company CITATION Bar03 \l 1033 (Reiter, 2003). The advisory board also provides management advice to the company related to how to sell the brand and products of the company, marketing and management. In the case of TechSci, the advisory board is responsible for streamlining the operation of the company. It draft the management plan and market strategies which to be implemented to ensure that it gains competitive advantage in the market. The advisory board are non staff and do not sit on the board of directors and therefore, their responsibility is clear cut out for efficient delivery of services.
Chief Executive Officer (CEO)
The Chief Executive Officer is the senior most staff and a stakeholder of TechSci. The CEO is in charge of daily running or operation of the company. He or she is the accounting officer and run the activities for the efficient management of the organization.
Board of directors
The board of directors is the key decision maker in a company. In the case of TechSci, the board of directors would be in charge of decision making of the company. The make major decisions regarding the investment, share and hiring of senior key personnel.
BIBLIOGRAPHY Grimsley, S. (2015). Organizational Chart and Hierarchy: Definition & Examples. Journal of business management , 2-14.
Morgan, J. (2015). The 5 Types Of Organizational Structures: Part 1, The Hierarchy. https://www.forbes.com/sites/jacobmorgan/2015/07/06/the-5-types-of-organizational-structures-part-1-the-hierarchy/#50aae13d5252 , 2-15.
Paul, R. (2015). Principles of Management and accounting. Journal of business management and accounting , 2-14.
Reiter, B. (2003). THE ROLE AND VALUE OF AN EFFECTIVE ADVISORY BOARD. https://iveybusinessjournal.com/publication/the-role-and-value-of-an-effective-advisory-board/ , 2-15.
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