NDB501 Introduction to Management Assignment Sample

This is the assignment sample of NDB501 Introduction to Management. This online course will introduce you to fundamental knowledge and skills for management in organizations. You’ll learn about the nature of work, organizational behavior, decision-making processes such as financial decisions or personnel recruitment/ selection procedures;

How an organisation operates through a number of departments that have specific functions (such as finance and marketing), planning within these departments using different types of forecasting models; use Excel sheets while working with spreadsheets which are used by many businesses around the world today: VBA programming is also covered from beginner level up until more advanced topics.

Assignment Solutions of NDB501 Introduction to Management

Assignment Activity 1. Identify the nature of business entities and risks and explain aspects of management and organisational practice

“Business entity” is a specific legal form that can be used to create an organization. Below, we’ll explain the risks associated with each type of business entity.

Risks for Sole Proprietors are limited risk because they have unlimited liability so that any debts are paid out of the individual’s personal assets. The downside is no separation between personal and professional obligations, which can result in stress and/or burn-out if not managed properly.

Companies allow protection from liabilities incurred during operations as well as external liabilities (liabilities approved by shareholders) but still hold its owners liable if there are errors or negligence.

Management is one of the most important aspects of organisation because without management tasks take longer to complete and are more likely to go wrong. Management strategy relies on using the right people in the right place at the right time. There are different ways that managers can be promoted, such as being promoted while working or promoting from within a company.

Managers have specific duties including overseeing projects and completing administrative needs. As an example for managing priorities, when a project is assigned, it’s imperative to ensure that everything else on a manager’s plate is either completed or put on hold until this project is finished so that they can provide undivided attention to it in its entirety which will lead to more productivity and success for both parties involved.

Assignment Activity 2. Analyse environmental influences on a business entity including innovation and adapting to changing environmental conditions.

Many business entities are run by people with a large number of qualifications and skills. Thoughtful, deliberate management decisions assist in making decisions that are based on best outcomes for the entity as well as for people involved with the entity. Adapting to changing environmental conditions is an important part of optimal management strategy, including innovation and adaptation to new technologies.

We have many examples in recent history where a company has adapted very successfully to changing conditions such as Uber and how they adapted their offering to ride-sharing platforms or start-ups taking advantage of investor funds, like “DogVacay”.

The phenomenal success stories around these analogies reinforce our own experience that adaptation can be an uncomfortable but nonetheless rewarding process.

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Assignment Activity 3. Apply knowledge of human resource management and sales and marketing to support efficiency and effectiveness

Effective human resource management is tied to an efficient and effective overall business strategy, because providing a safe and flexible work environment is essential for retaining quality employees. In this way, HR allows for the overall company to more efficiently allocate resources as well as ensure growth rates are aligned with long-term goals.

Additionally, HR can even be used proactively within the sales process by understanding what motivates customers – going so far as to set up regular surveys of prospective customers before product development begins – in order for products developed through innovative research to be marketed effectively and efficiently.

Specifically including marketing information helps put your answer in perspective while also covering all bases. By adding human resource management into the mix we see how they go hand-in -hand (pun intended) and why they should be treated as one thing.

Assignment Activity 4. Communicate information identified in an organisational analysis for the management of organisational performance and risk.

An organisational analysis for the management of organisational performance and risk typically includes 5 key ingredients:

1. an organisational risk assessment,

2. stakeholder engagement,

3. appropriate policies and procedures to manage risks identified in the assessment,

4. mechanisms for feedback loops to check that policies are enforced effectively (this is often an example of system control),

5. oversight at the senior level to approving changes that impact on future performance or risks as well as past decisions with potential longer-term implications beyond a single reporting period, such as changes in supply chain policies or divestment plans from one country to another.

Organisations are usually managed through a mixture of financial controls – external managers are brought in who have full responsibility for running a business as well as internal managers who are responsible for day-to-day operations. Most companies need to provide some form of reporting – both financial and operational, but also increasingly environmental and social.

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