Capstone Assignment: Business Research Analyst Executive Summary

Question 1

Define how the four management functions facilitate effective business performance by addressing the following.

Controlling is the practice of monitoring, comparing, and adjusting performance to meet organizational goals. NBC Universal's Human Resource Department could apply five steps of its Control Process to employee training activities - setting standards, measuring performance against standards, comparing performance with those standards, identifying deviations, and taking corrective actions where appropriate.

Ensuring employee training meets its standards while also identifying areas for improvement or taking necessary corrective actions if necessary ensures effective resource use by utilizing resources efficiently. The four management functions of planning, leading, organizing, and controlling are essential to effective business performance by creating an organizational framework for aligning resources, coordinating efforts, inspiring motivation, and maintaining accountability. By engaging in these functions’ organizations can meet their goals while improving their performance and increasing competitive advantage.

Question 2

Describe the three levels of management and their role in planning by addressing the

Following

Management can be divided into three levels, which include top, middle, and lower-level managers. Each plays a crucial role in planning. Top-level management handles strategic planning; middle management deals with tactical planning, while lower-level managers handle operational planning. Contingency planning encompasses all levels of management to prepare for unexpected scenarios.

Examples of plans at each level would include Kroger's strategic decision to expand globally, Berkshire Hathaway subsidiary's tactical decision to upgrade manufacturing equipment, Caterpillar's operational decision to schedule preventive maintenance for their equipment, and a contingency plan to respond to cyber-attacks on Hewlett-Packard information systems - coverage would include relevant departments and stakeholders who will implement each plan effectively. Detailed planning is critical to an organization's success and requires collaboration among various levels of management.

Question 3

Discuss the relationship of the SWOT analysis to effective strategy formulation by

addressing the following

SWOT analysis is a practical strategic tool that allows businesses to assess their internal strengths and weaknesses and external opportunities and threats. By conducting a SWOT analysis, companies can create effective strategies to capitalize on...