MGT330 Team Management Activity and Reflection, Thesis of Management Accounting

Download MGT330 Team Management Activity and Reflection and more Thesis Management Accounting in PDF only on Docsity! MGT330 Team Management Activity and Reflection MGT330: Management for Organizations Introduction As a newly promoted manager for Amazon I would like to take this opportunity to discuss team management and the five functions of management. The analysis will take a look at how I would approach the five functions of management and how I believe I can successfully implement them. Let’s identify what the five functions are; Planning, organizing, staffing, leading, and controls. Planning speaks to “the systematic process in which managers make decisions about future activities and the key goals that the organization intends to pursue” (Baack, 2019, pg. 30). This is how we as managers can help the company grow further. Organizing is how we bring people and resources together to create products (Baack, 2019, pg.60). This function can be a great demonstration of leadership. Staffing is how we incorporate Human Reasons in our recruitment process. Through staffing we can ensure that we have the right people in the right positions. Leadership is an extremely key function in being a manager. “A simple definition is that leadership is the art of motivating a group of people to act toward achieving a common goal” (Ward, 2017). Finally, the last function, controls. “Controlling is the process of evaluating performance against established goals and creating methods appropriate to take corrective action to maintain or improve performance in any area of the organization” (Baack, 2019, pg. 187). This is how I as a manager can ensure that our employees are meeting my intent, as well as the company’s intent. Through the five functions of management I can be demonstrate my ability to be one the best managers that Amazon has ever seen. Planning The two specific areas of planning that I would to focus on are finance and sales. Currently, Amazon seems to have perfected these aspects. They have found a way to profit immensely by demonstrating an almost perfect supply chain system. Amazon today reported earnings for its first fiscal quarter of 2020, including revenue of $75.5 billion, net income of $2.5 billion, and earnings per share of $5.01 (compared to revenue of $59.7 billion, net income of $3.6 billion, and earnings per share of $7.09 in Q1 2019) (Protalinski, 2020). While these numbers are incredible there is always room for improvement. As manager I plan on extending the companies reach ever further to generate more profit. Another way to do this is to launch a Sigma Project and find out where we can “trim the fat”. In regard to sales I plan on doing everything in my power to ensure that we can make more Amazon Essential projects. Those are products that we can control the entire supply chain as opposed to having to deal with the supply chain of a third-party seller. By creating and developing our brand more we can ensure that we are getting the best product at the low cost thus creating somewhat of a monopoly on all products. If can manufacturing our own products we can bring all the business to us by making sure that we have the most affordable merchandise. In any organization, people are the most important part. Without the people there is no company. Even more in depth, without happy people there is no company. When people are properly motivated and incentivized, they have been proven to produce more effectively. One way I plan on bringing people together is by creating a positive work environment. Doing this is actually then many make it out to be. In general, people want to have a healthy balance between work and home. By not working people to ground and allowing people to have somewhat flexible hours we can make sure that they have that healthy balance. Another way is by doing company cookouts. When we create an environment where can we see each other as people as Controlling Controlling is the process of evaluating performance against established goals and creating methods appropriate to take corrective action to maintain or improve performance in any area of the organization (Baack, 2014, pg. 214). There are four steps of control and they are as follows; establishing standards, measuring performance, comparing performance, and making decisions. How we establish standards goes back to Amazons leadership functions. The best way to do this is to formulate policies and communicate them across the board. We have to make sure that everyone, even at the lowest levels understand the company’s standards. We will measure performance by doing monthly evaluations in which our supervisors can truly deep dive into their staff and ensure that they are meeting their intent. If for some reason they are falling short this can be the perfect forum to voice that. Comparing performance is where we look at the monthly evaluations of our employees and we find out who is performing the best, or the worse. This can help us to identify the true leaders within our organization. Making decisions is the last step of control because this is where the outcomes take place. We will have a board of managers/supervisors that will congregate and discuss the best ways forward. By allowing this group to make the decisions here we can help to eliminate any bias that may be taking place. Conclusion This analysis has taken a look at how I would approach the five functions of management and how I believe I can successfully implement them. We discussed how to best plan for the forward progression of the company. From there we looked at Amazon’s organizational structure where we identified that the company as a whole operates like a hierarchy. We then outlined a clear path forward on how we were going to staff this operation. By discussing leadership, we identified that Amazon already has great function laid out. We will continue to support these. When looking into our control methods we developed the best possible system of checks and balances for the organization. The result of this analysis has allowed me as a manager to ensure that our employees are meeting my intent, as well as the company’s intent. References Accipio. (n.d.). Effective Recruitment. https:/ /www.accipio.com/eleadership/mod/wiki/view.php ?id=1890 Amazon Jobs. (2020). Amazon's global career site. amazon.jobs. https://www.amazon.jobs/en/principles Baack, D., Reilly, M., & Minnick, C. (2014). The five functions of effective management (2nd ed.). Retrieved from https://content.ashford.edu/ Dudovisky, J. (2020, March 26). Amazon organizational structure: A brief overview. Research- Methodology. https://research-methodology.net/amazon-organizational- structure-2/ Protalinski, E. (2020, May 3). Amazon reports $75.5 billion in Q1 2020 revenue: AWS up 33%, subscriptions up 28%, and ‘other’ up 44%. VentureBeat. https://venturebeat.com/2020/04/30/amazon-earnings-q1- 2020/#:~:text=Amazon%20today%20reported%20earnings%20for,of% Ward, S. (2007, July 17). What is leadership? And can you learn to be a good leader? The Balance Small Business. https:/ /www.thebalancesmb.com/leadership-definition-2948275 White, S. K. (2020, April 24). What is transformational leadership? A model for sparking innovation. CIO. https:/ /www.cio.com/article/3257184/what-is-transformational- leadership-a-model-for-motivating-innovation.html \