MSc Management Principles of Management Assignment Sample Answer

MSc Principles of Management Assignment Summary

Here in this module, you will be graded within 100%. 50% is the minimum number you need to pass the module. You have to write this Management Report on Tesco within 5000 words, you must also include a skills development plan and a reflective statement, that too in an academic style. 

By completing this assessment, you will achieve the following learning outcomes (LOs):

LO1 – Apply knowledge and understanding of the key management theories and concepts/practices to contemporary organisations

Answer:

1. Scientific Management Theory.

Invented by Frederick Taylor during the early 20th century.

Frederick Taylor introduced scientific management that is one of the oldest management theories. By examining and refining the workflow process, Taylor hoped to achieve more productivity by pressuring managers to scientifically analyse activities and make workers as efficient as possible.

Scientific management has many principles, which are listed here:

• Standardisation: Making ways of doing things and best practices standardised.
• Specialisation: division of work into tasks to enhance efficiency.
• Time and Motion Studies: The observation of the tasks to decrease wastage of time and energy.
• Performance-Based Pay: Using productivity to pay workers.

Applicability Today: Strict control of the activity of workers has been criticised, but the focus of Taylor on efficiency and productivity in the processes is still relevant in such spheres as Logistics, the fast-food service industry, and manufacturing. 

2. Administrative Management Theory.

Developed by: Henri Fayol

Henri Fayol was a contemporary of Taylor who concentrated on administrative management and not on the level of task-based improvements. Fayol assumed that the work of managers was divisible into the fundamental functions and formulated 14 principles that could inform management practice.

Administrative Management has the following major principles:

• Division of Work: Division of work is the assignment of certain tasks to people to specialise.
• Power and Accountability: Power and accountability.
• Unity of Command: Employees are to be issued with orders of a single superior.
• Fairness: The managers are expected to be fair to the employees.

Applicability Today: The functions of management listed by Fayol, such as planning, organising, commanding, coordinating, and controlling, are the foundation of numerous current management textbooks. His tenets have been extensively used in any kind of organisation.

3. Bureaucratic Management Theory

Developed by: Max Weber

The bureaucratic management theory of Max Weber has focused on rule-based leadership. He came up with a proposal that the bureaucratic system, with particular authorities’ hierarchy and roles, would remove favouritism and facilitate efficiency.

The main Tenets of Bureaucratic Management:

• Hierarchy: distinct authority and responsibility.
• Rules and Procedures: Consistency by having standardised processes.
• Impersonality: Making decisions that are guided by objective factors as opposed to individual tastes.
• Merit-Based Advancement: Promotion of each employee must be based on their performance and merit.
• Applicability Today: Some view it as challenging, yet Weber emphasised the importance of an organisational structure that is clear, routine, and meritocratic, which is particularly useful in large organisations, such as government agencies and corporations.

4. Human Relations Theory

Developed by: Elton Mayo

Elton Mayo was the one who developed the Human Relations Theory. He conducted his research at the Hawthorne works plant and found that the productivity of employees increased when they were appreciated and given attention. This theory was a step towards the realisation of mechanical efficiency in the context of the social and emotional needs of the employees.

The main concepts of the Human Relations Theory are:

• Well-being of Employee: Understanding that employees are not solely driven by money, they also require recognition, relationships and a feeling of belonging.
• Team Dynamics: Fostering teamwork and team spirit.
• Leadership Style: It should change the form of leadership to supportive management.
• Involvement of Employee: Involving the employees in decision-making as a way of increasing motivation.

Applicability Today: The human relations theory pre-empted much of what exists in HR and management in terms of employee-centred, i.e. employee engagement, team-building and supportive leadership.

LO2 – Critically analyse and highlight the key principles and functions of management, including planning, organising, leading and controlling. 

Answer:

Here are the key planning and management functions, including Planning, Organising, Leading, and Controlling. 

Planning

Planning is the role of management that entails identifying a goal in addition to deciding the route of action so as to accomplish the goal. Planning involves the managers being conscious of the environmental conditions in which their organisation is exposed and projecting the future conditions. It further demands that managers should be good decision makers.

Planning is a procedure that involves a number of procedures. This process starts with environmental scanning, which merely implies that the planners need to know about the important contingencies that their organisation is confronted with in the context of economic conditions, their competitors and their customers. Planners should then make an effort of trying to foresee future conditions. It is these forecasts that are used to plan.

The first one is that planners have to set objectives, which is a statement of what should be attained and at what time. Planners should then find other ways of action to accomplish goals. Upon the consideration of the different alternatives, the planners are required to make decisions on the most appropriate courses of action to reach goals. They will then have to create the necessary measures and ensure good execution of plans. Lastly, planners need to continuously review the effectiveness of their plans and take corrective measures where applicable.

Organising

Organising is the role played by management, which entails coming up with an organisational structure as well as allocating the human resources to ensure that the objectives are achieved. Organisational structure is a framework in which effort is coordinated. The structure will typically be given through an organisation chart, which will give a graphic perspective of the chain of command in an organisation. One of the cases is the decision made concerning the organisational structure, and this is mostly termed the organisational design decisions.

Designing individual jobs in the organisation is also part of organising. They have to make decisions regarding the responsibilities and the duties of the individual jobs, and how the duties are to be performed. The decision arrived at concerning the nature of jobs in the organisation is usually referred to as job design decisions.

Organising at the organisation level entails making decisions that can best departmentalise or cluster jobs into departments to organise effort. Departmentalising can be done in many different ways, among them being the function, product, geography or customer. Several departmentalisation methods are employed in many larger organisations.

Leading

Leading is a social and informal work that includes influencing people’s work in the direction you want them to. If the manager is a good leader, people working under him will always be eager to work hard in achieving the goal of the organisation. 
The contribution of behavioural science is big when it comes to increasing the knowledge of managers' roles. Understanding job attitude and personality studies provides valuable information, clarifying what a manager does to lead their subordinates. All these studies provide insightful information on how one can be effective in leading; managers need to first understand the values, emotions, personalities and attitudes of their subordinates. 

Motivation and motivation theory studies are a source of valuable information regarding how workers can be energised to work productively. Communication studies offer insights into how managers can communicate effectively and convincingly. Research on topics related to leadership style and leadership provides valuable answers to questions, like: How can a manager be a good leader? In what conditions can some leadership styles be best and most effective? 

Controlling

Controlling is basically ensuring that the performance is at a standard level or not. The process of controlling involves three steps, and they are

1. Setting the standards of performance
2. Comparison between the actual performance and the standards of that performance
3. Take initiative and corrective measures wherever necessary

Performance standards are usually expressed in monetary terms like profit, cost or revenues, but are also expressed in different terms like defective products, units produced, and quality of the service or customer satisfaction level. 

Performance measurement can be made in various forms, depending on the standards of the performance, which include, but are not limited to, production results, financial statements, formal performance appraisal, and sales reports. Most of the time, managers at all levels will take part in all the management processes of controlling.

LO3 – Evaluate the dynamics of the global business environment, and the need for effective management as a value-adding universal activity at international, national and local levels. 

Answer:

The business world in the global setting is extremely dynamic due to globalisation, technological changes, economic uncertainty, changes in the political landscape and cultural diversity. Globalisation has made organisations cross borders and has been aided by the international trade policies, exchange rates, digital innovation and international competition. These forces of the outside world make managers continuously adjust strategies and operations to be competitive.

Internationally, successful administration is needed to coordinate international activities to be coordinated among various countries, to deal with the cultural variation, and respond to the global market dynamics. The multinational organisations are also dependent on robust management practices to synchronise the global strategies with local market demands, and they are consistent but flexible. In the absence of good management, organisations can have problems in terms of communication, compliance and strategic alignment.

At the national level, the management is value adding by addressing domestic specific variables like government regulations, labour markets and economic conditions. Managers are important in ensuring that organisations adhere to the laws of a country, operate effectively and contribute to the economic growth. Good management can be used to keep organisations stable and competitive in their home markets.
The management is equally significant at the local level to direct day-to-day operations, employee motivation and customer satisfaction. Local managers put the larger organisational objectives into realistic practice, thereby making sure they are efficient, quality and customer satisfaction. This shows that management is a universal undertaking that is value adding, irrespective of the magnitude of an organisation or its geographic location.

All in all, the responsiveness of the business environment in the world today brings in the realisation that management at every level is necessary. Management is a value-adding practice because it helps organisations to be flexible to change, thus maximising performance and sustainable success in both international, national and local fronts.

LO4 – Critically reflect on their own management competencies to design a skills development plan, which is aimed at their future career aims and objectives.

Answer:

LO4 emphasises self-knowledge and self-growth as a future manager. In order to attain this learning outcome, the students must assess their existing management abilities and determine areas of improvement to attain their career interests.

Step 1: Rebate on current competencies.

Start by evaluating your strengths and weaknesses in the major areas of management that include: leadership, communication, decision making, problem solving, team management and strategic thinking. The gaps in skills and knowledge can be identified with the help of such tools as self-assessment questionnaires, 360-degree feedback, or reflective journals (Robbins and Coulter, 2022).

Step 2: Align competencies to professional goals.

Think about your future career goals, e.g. you are interested in becoming a project manager, business analyst, or operations leader. Determine the most important skills in these positions. For example, leadership and decision-making are required in managerial roles, and analytical and planning skills are required in strategy-focused occupations (Johnson et al., 2020).

Step 3: Milestones on a skills development plan.

After identifying gaps, develop a systematic development strategy which entails:

• Studies (e.g. courses in management, workshops, online courses).
• Practical experiences (e.g., internship, projects, volunteering, etc.)
• Timescales of meeting each objective.
• Ways to keep track of the progress (self-review, mentor comments, etc.)

It is a plan that guarantees constant development and consistency between personal capabilities and professional goals, which makes you better and professionally prepared. A critical reflection of your skills helps you realise what you can develop and take the initiative to improve performance in further managerial settings.

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