CMA3001 Introduction To Management Assignment Sample

Exploring Management Fundamentals: Introduction Assignment

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Introduction Of Introduction To Management

In a construction organization the management formation typically includes a hierarchy of roles and responsibilities that are intended to ensure well-organized project execution and delivery. At the top of the hierarchy is the CEO, who is accountable for setting the company's strategic direction, overseeing financial performance, and ensurefulfillment with legal and moral standards.

Marketing plays asignificant role in a construction organization's achievement by helping to build the brand, produce new business, and continue relationships with clients and stakeholders. The marketing function is accountable for developing and implements marketing strategies that target potential clients and platform the organization's services and capabilities (Wilton, 2019). This includes developing marketing security, managing social media and other digital channels, and coordinate events and other promotional activities.

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Human resource management is also vital to the success of a construction organization. The HR function is accountable for retaining and recruiting the most excellent talent, providing training and growth opportunities, and ensuring that the organization complies with labor laws and regulations (Cooke, et. al. 2020). This includes managing employee benefits, overseeing performance evaluations, and ensuring that the organization maintains a positive and comprehensive workplace culture.

The essay will discuss on Balfour Beatty Plc which is a foremost international infrastructure group that operate in the engineering, construction, and project management sectors (Alkaissy, et. al. 2020). As a large business, the company has aintricate management structure that is designed to ensure effective decision-making, communication, and collaboration across its diverse business units and subsidiaries.

Background of an organization

Company overview

Balfour Beatty Plc is a foremost international infrastructure group with a long history of providing construction and project management services across a wide assortment of sectors. The corporation was founded in the UK in 1909 and has ever since expanded internationally, with operations in North America, Europe, and Asia-Pacific.

The company operates across a range of industries, as well as transportation, water, energy, and social infrastructure. The firm’s capabilities span the complete lifecycle of infrastructure projects, from design and construction to safeguarding and asset management.The business is organized into 3 main business units, which includes support services, construction services, and infrastructure investments (Badi and Murtagh, 2019). Construction services is responsible to deliver major construction projects, including railways, airports, and highways. Support Services provides facilities engineering, management, and other services to a range of consumers, while infrastructure investments invest in infrastructure projects and direct assets on behalf of clients.

At the top of the management structure is the Board of Directors, which is accountable for setting the firm’s strategic direction, supervision risk management, and ensures compliance with lawful and ethical standards (Ghaffar, et. al. 2020). The CEO and senior executives are accountable for implementing the board's strategy and running day-to-day operations across the company's a range of divisions.Marketing plays a critical role in firm’s business strategy, as the businessaim to build its brand, reputation, and relationships with customers and stakeholders. The marketing function is responsible for growing and executing advertising campaigns, managing social media and other digital channels, and endorses the company's capability and services to potential customers.

Human resource management is also a very important function within Balfour Beatty. The business employs over 25,000 people internationally, and HR plays a key function in managing employee, retention, recruitment training, and development (Mahmudnia, et. al. 2022). The HR function is responsible for ensuring that the company attracts and retains the best talent, supports employees' professional growth, and maintain a positive and inclusive office culture.

Provide reasoning on choosing this organization.

Company’s management marketing function, structure, and HR purpose all play necessary roles in enabling the company to attain its strategic objectives and keep its position as a leading player in the infrastructure industry.The company is dedicated to sustainability and responsible business practices, and has set a figure of ambitious targets in areas such as waste management, carbon reduction, and social value creation (Boos, et. al. 2020). The company has also recognized a strong reputation for innovation, with a focus on digital technology and offsite building methods.

State the management structure of Balfour Beatty Plc

Discuss the management structure

The company has a complex management structure that is intended to support effectual communication, decision-making, and collaboration crossways its various business units and subsidiaries. At the top of the structure is the Board of Directors, which is accountable for setting the company's planned direction, overseeing risk management, and ensure compliance with legal and ethical principles (Díez, et. al. 2020). The board is chaired by a non-executive chairman and includes a mix of non-executive and executive directors.

The CEO, at present Leo Quinn, is accountable for implementing the board's strategy and running day-to-day operations across the company's various divisions. Reporting to the CEO are a team of senior executive who supervise various aspects of the company's operations, including construction, engineering, support services, and infrastructure investmentsBalfour Beatty's business units are prepared into regional divisions, with leaders responsible for supervision operations and project delivery in each area (Kwok, et. al. 2020). This decentralized structure allows the corporation to remain agile and receptive to local market conditions, while still maintain strong centralized control over key strategic decisions.The corporation also has a number of functional departments that carry its operations, including legal, finance, human resources, marketing, and communications. These functions are responsible for providing particular expertise and services to the company area variety of business units and ensuring that the organization operates efficiently and effectively.

How does this structure help the company achieve its goals?

Balfour Beatty's management structure is considered to sustain the company in accomplish its goals in several ways:

  • Clear decision-making and accountability: The management structure is intended to ensure clear accountability for decision-making and project delivery. This allows the company to make strategic decisions rapidly and competently, ensuring that projects are delivered on time and to a high standard.
  • Well-organized use of resources: The structure allows for well-organized use of resources by ensuring that the firm’s operations are allied with its strategic objectives (Andriyanto, al. 2020). This enables the corporation to prioritize its investments and assign resources effectively, ensuring that it can bring high-quality services to customers and stakeholders.
  • Flexibility and responsiveness: The decentralized structure of the firm’s regional divisions enables the corporation to be flexible and receptive to local market conditions, while still maintaining centralized control over key strategic decisions. This enables the company to speedily adapt to altering market conditions and act in response to client requirements.
  • Strong communication and collaboration: The structure facilitates strong communication and teamwork across the firm’s various divisions and functions. This ensures that the association is allied around a common vision and set of values, and that all stakeholders are working jointly towards the same goals.
  • Specialized expertise: The functional departments within the business provide specialized knowledge and services to sustain the company's operations (Lahtinen, al. 2020). This ensures that the corporation has access to the resources and ability it desires to deliver high-quality services to customers and stakeholders.

State how the management structure benefits the company.

Advantages of firm’s management structure:

  • Clear accountability: The management structure provides clear lines of responsibility and decision-making, which allow the company to function capably and efficiently. This ensures that projects are deliver on time and to a high standard.
  • Efficient use of resources: The structure enables the case business to prioritize its investments and assign capital efficiently. This allows the company to focus on key strategic objectives and take value to customers and stakeholders.
  • Flexibility and responsiveness: The decentralized structure of the company’s regional division enables the company to be flexible and receptive to local market conditions. This allows the business to rapidly adapt to changing market circumstances and respond to client needs.
  • Specialized expertise: The functional department within the commerce provide specialized knowledge and services to hold up the company's operation (Darmawan and Grenier, 2021).This ensures that company has access to the resources and proficiency it needs to deliver high-quality services to clients and stakeholders.

Disadvantages of company’s management structure:

  • Complexity: The management structure is multifarious, which can make it difficult to make decisions rapidly and competently. This can slow down the pace of scheme delivery and hinder the company's aptitude to react to market changes.
  • Silos: The decentralized structure of the regional division can generate silos within the organization. This can make it hard for the corporation to share knowledge and expertise across diverse divisions and functions.
  • Communication challenges: The structure can generate communication challenges, as different divisions and function may have dissimilar priorities and objectives (Hanaysha, al. 2021). This can make it difficult to align the organization around a common vision and set of values.
  • Cost: Maintaining a complex management structure can be valuable, as it requires important resources and investment to supervise effectively.

Briefly discuss the 4Ps of the Marketing Mix in relation to Balfour Beatty

Define what Marketing Mix is and briefly state the 4Ps

Marketing mix refers to the set of tactical marketing tools that a corporation uses to accomplish its marketing objectives in the target market. The 4Ps of marketing mix are product, price, promotion, and place. They are the variables that a corporation can control to manipulate customers' buying decisions.

The 4Ps are as follows:

  • Product:This refers to the definite product or service that a business offers to consumers. This includes the packaging, design, features, excellence, and other aspects of the product that make it exceptional.
  • Price:This refers to the quantity of money that consumers must pay to acquire the product or service (Zeebaree, al. 2019). Pricing strategies include cost-plus pricing, value-based pricing, competitive pricing, and dynamic pricing.
  • Promotion:This refers to the method used to endorse the product or service to customers. These strategies include personal selling, advertising, sales promotion, public relations, and direct marketing.
  • Place:This refers to the channel through which consumers can purchase the product or service. This includes the physical location of the online marketplaces, store, and other distribution channels.

The 4 Ps of marketing provide a structure for businesses to expand their marketing strategies and tactics. By in view of each of these elements, businesses can develop a comprehensive marketing plan that addresses the needs of their target customers, communicates the distinctive benefits of their product or service, and maximize the efficiency of their marketing efforts.

Look at the product the organization is selling/offering/producing/servicing.

Price:the company uses a pricing strategy that is based on competition, market demand, and project specifications. The corporation aims to offer competitive pricing while ensure profitability and maintain high-quality standards (Harsch and Festing, 2020). They conclude the product's value to the customer/buyer by analyzing the project stipulation, client necessities, and the prevailing market conditions. The company does not essentially rely on one pricing strategy, as they use a mixture of pricing strategies such as cost-plus pricing, value-based pricing, and lively pricing, depending on the project.

In terms of pricing strategy, the company could take advantage from a value-based pricing approach. By contributing unique and differentiate services, the corporation can charge a premium price, thereby growing its profit margins. This pricing approach could help the company to better converse the value of its services to customers and stakeholders and position itself as a quality provider of building and infrastructure services.

Place: the company operates in multiple regions across the world, and its operation ismostly concentrated on deliver projects in their respective markets (Claus, 2019). The firm’s supply chain is intricate, and it involves a vast network of contractors, suppliers, and subcontractors. The company's decentralized structure means that each regional division is accountable for managing its supply chain.

One weakness in company’s supply chain is that it can be challenging to administerefficiently, given its complexity. To conquer this challenge, the corporation could consider adopting a centralized supply chain management approach, which could help to get better reduce costs, visibility, and improve competence.

In terms of distribution channels, company’s services are mainly delivering through project sites. Though, the company could also consider leveraging digital technologies to expand its accomplish and progress access to its services (Dirani, et. al. 2020). This could include the use of online platform and virtual collaboration tools to join with clients and stakeholders more efficiently.

Promotion: the company uses a mix of public relations, advertising, and sales promotion to promote its services. The business also participates in trade shows and proceedings to showcase its capabilities and network with probable customers.

To additional endorse its services, the company considers investing in digital marketing channels, such as social media, search engine optimization, and content marketing. By leveraging these channels, the corporation could reach a wider audience and engage with customers and stakeholders more effectively. In adding, the corporation could consider partnering with other organizations in the industry to work together on marketing initiatives and leverage each other's network and resources.

Provide an synopsis of HR functions: recruitment and selection, employee relations and talent development

Define what HR is, what functions comes under it

Human resources (HR) refer to the group of the people who work for an association. It encompasses a range of activities that are intended to build up recruit, and retain employees to support the general goals of the organization. The HR purpose plays a critical role in creating a positive work environment and ensure that workers have the skills and resources they require to be productive and successful.

HR function is responsible for a range of activities, includes:

  • Recruitment and hiring: This includes recognize staffing requirements, posting job advertisements, conducting interviews, screening resume, and making hiring decision.
  • Training and development: This includes provide workers with the skills and knowledge they require to perform their jobs knowledgeably, as well as opportunity for continuing learning and growth (Stahl, al. 2020).
  • Performance management: This involves setting providing feedback, performance goals, and conducting presentation evaluations to make sure that staff are meeting expectations and contributing to the achievement of the organization.
  • Compensation and benefits: This includes designing and administers employee compensate packages, including bonus, salaries, and repayment such as health indemnity and retirement plans.
  • Employee relations: This involves managing workplace conflicts, promoting a positive work culture, and addressing employee concerns and grievances (Barrena-Martínez, al. 2019).
  • Compliance and legal issues: This includes ensuring that the organization is complying with relevant laws and regulations, such as those related to employment, labor relations, and workplace safety.

What are the strategies the company uses in recruiting and selection?

The company employs a variety of strategies to recruit and choose employees. These strategies include:

  • Internal recruitment:the company encourages current workers to apply for open positions within the corporation. This approach allows the business to leverage the skills, knowledge, and experience of its existing workforce.
  • External recruitment: the company also enthusiastically seeks out qualified candidates from outside the business through job advertisements, referrals, and recruitment events.
  • Campus recruitment: the company participates in career fairs and other events at universities and technical schools in order to recognize and attract talented young talent (Piwowar-Sulej, 2021).
  • Diversity and inclusion: the company is committed to building aassorted and inclusive workforce, and dynamically seeks out candidates from underrepresented groups.

Do they only hire skilled workers or mix of both?

The selection process at the company typically involves several steps, including:

  • Resume screening: HR professional review resumes identifying candidates who assemble the basic experience for the job.
  • Phone or video interview: Candidates who pass the resume screening may be invited to participate in a phone or video meeting to assess their skills, knowledge, and fit with the corporation culture.
  • In-person interview: Candidates who carry out well in the initial interview may be inviting to contribute in an in-person interview with the hiring executive and other team member.
  • Skills assessment: Depending on the situation, candidates may be asking to complete skills assessment or other tests to reveal their abilities.

The company seeks to hire a mix of both accomplished and entry-level workers, and has a range of talent management program in place to maintain the expansion and growth of all employees (Wilton, 2019). These programs include development programs, training and development opportunities, leadership and mentoring and coaching programs. The business also places a strong importance on employee engagement and offers a range of benefits and perks intended to attract and retain top talent.

Do they have diverse career paths - apprentice, graduate scheme, and engineering?

The company offers a range of career paths for employees, including apprenticeships, graduate schemes, and engineering roles (Yong, et. al. 2020). The firm places a strong importance on talent growth and offers a diversity of training and development opportunities to help employees construct the skills and experience they require to advance their careers.

Do they have employee relation schemes - recognition, appraisals, promotion programmes?

In adding up to career development programs, the case company also has a variety of employee relations schemes in place to distinguish and reward workers for their contributions to the corporation. These schemes include:

  • Employee recognition programs:the company has a range of programs in place to distinguish employees for their hard work and assistance to the corporation, including awards for, innovation, safety and customer service.
  • Performance appraisals:the company uses performance appraisals to assess employee performance and offer feedback on areas for improvement. These appraisals are characteristicallyconducted on an annual or bi-annual basis.

Conclusion

This essay has examined the marketing mix, management structure, and human resources functions of Balfour Beatty which is a leading international construction group. The essay has discussed on company’s management structure, which is prearranged into several business segments, each lead by a senior executive accountable for driving enlargement and profitability in their individual areas. This structure enables the company to operate competently and efficiently, and helps to make sure that it can accomplish its strategic objectives.The company’s marketing mix focus on the 4Ps of price, product, promotion, and place. The essay discussed on how the company uses a value-based pricing approach to set prices, and how it uses a range of promotional activities to promote its products and services. The essay also highlight on human resources functions, including its recruitment and selection strategy, career growth programs, and worker relations schemes. The company's focus on talent development and its pledge to promoting from within whenever possible, as well as its various initiatives to be familiar with and reward employee contributions.

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