This week, we covered business organizations and discussed the structures in business organizations. We learnt that our lives are very dependent on these organizations. We learnt about the four common features of an organization - people, objectives, structure and management.
An organization is one that uses resources (inputs) such as land, labour, capital and enterprise and produces an end product of higher value. In “A” level Economics, I learnt that that scarcity is the fundamental economic problem of unlimited wants in a world of limited resources. Hence, it is essential for organizations to have a good management to ensure that organizations use use these limited resources to produce an end product of higher value makes the most out of the limited resources.
In my tutorial lesson with Rob, we discussed the importance of having a good structure and management. Having a sound structure in an organization is extremely beneficial as people will be delegated certain jobs, and these jobs will be delegated after considering their strengths. Having the right people doing the right jobs will also be much more efficient for the company, and less resources will be wasted. Hence, having a good structure in a company will ensure that the company’s resources will be put to good use and the company will likely be more cost efficient, and thus the company’s profits are likely to increase. Efficiency in a company would also help it to achieve its objectives.
But even with a sound structure in an organization, it would still be difficult to be successful without good managers and leaders. Warren Bennis wrote in his 1989 book “On Becoming a Leader” that a manager focuses on systems and structure, while a leader focuses on people. Although a leader and a manager may seem to have very similar roles, the difference is that a manager simply manages people - they may help to coordinate tasks and jobs, but a leader will motivate and inspire. I feel that in today’s world, it is far more important to be a good leader rather than just a manager. A good leader would be able to recognize the strengths and weaknesses of their workers, and inspire them to improve and develop their talents and skill set.
On a different note, we were tasked to research on an organization and it’s management and present our findings to the class. My group decided to research on Tesco. Within our group, we decided to take on different roles to prepare for our presentation. I worked on creating the presentation slides and my group mates worked on gathering the information and data. By working on different tasks, we managed to prepare our presentation without much hiccups. It was interesting to see how Tesco’s mission statement eventually resulted in how it managed to add value to its resources. Tesco wanted to share knowledge and experience, so it trains and develops its entire workforce, empowering emplyees with brain power and knowledge. This would also help it to achieve it’s other mission - to understand customers and act responsibly for their communities.
What I find the most interesting about all these things I’m learning about is that I can see it being applied in real life.
Again well written with very clear academic knowledge applied to a specific business. I like the way to evaluate these concepts and the importance of them in having an effective organisational structure.Another good point is your reference to Warren Dennis - clear example of external research - and your views on the importance of leadership. You might want to compare this viewpoint with those of the classical management theorists we have studied this week in your latest blog
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