Essay On Economics Of Business And Management

Problems in management and leadership may lead to the downfall of an organization. This journal will cover the various work-related skills which are linked to management and leadership roles and requirements in the QC Termemilano, and then it will analyze the role of managers in contributing to the strategic aims and directions in the organization. OC Termemilano is located in the center of Milan a city in northern Italy is a wellness center secured by ancient Spanish walls (QC Terme, 2022). Its structure is a blend of elegant architecture and modern technology which makes it an exclusive venue to get rid of day-to-day stress and enter into the world of wellness. It provides various services such as thermal baths, saunas, massages, and treatments and also provides various cosmetic products, products related to special occasions, and different corporate gifts. It also provides space for different meetings and events.

 

From the time I joined this company, I realized that various levels of management and leadership perform different roles to achieve a common organizational goal. The various roles performed by different managers will be discussed through the experience of different tasks which I got while working in this organization, firstly planning is the primary role that a manager performs in any organization (Baxter, 2015). Here at QC Termemilano, I have observed that managers in a due manner perform their role of planning. This is because here at QC Termemilano planning plays the most important role as its major business is to provide hospitality services. It is of most importance for the managers and leaders to make a plan so that they can provide its various services effectively and efficiently. I have observed that my manager made a well systematic plan to host a corporate event In which he made a list of the things which were needed and the sources from which they can be acquired. Then he cross-checked the availability of things required with the third party, just to make sure that there is no last movement rejection of the order.

 

 

In that same event, which was assigned to my team, I learned another work-related skill which was of organizing any event or meeting. This organizing skill requires different abilities such as the ability to manage time, set goals, analytical thinking, attention to detail, and many more. I observed that my manager made a timeline in the same order in which the event should be followed as per the client's requirements (Lynch, 2021). He then made various sub-groups within the team so that he can assign different work and make sure that each sub-team perform its task. In this way, he was able to organize the event successfully without any organizational faults. This action of assigning different work to different sub-teams is also a great example of delegation which he performed while organizing the event. I remember that briefing which the manager gave to our team in which he stated various important reasons to delegate the task and authority.

 

 

At the QC Termemilano attention to detail in any event or for any product plays an important role. I recognized this work-related skill when I observed the work of people who were engaged in packaging of the cosmetic product and corporate gifts. They were asked to perform their task by keeping every small thing in mind so that the quality is maintained and the customer is fully satisfied with the product they consume (Al-Filali, 2013). This work-related skill allows the company to attract potential customers and let them earn substantial profits. I also learned about communication skills at the workplace whether it is with clients or with colleagues by observing the working environment at the QC Termemilano. Another role of management that I experienced during my work with the team was leadership, the way my manager leads the team and efficiently handled the difficult task was the result of great leadership skills.

 

 

Management is crucial for any organization that wants to achieve its goals effectively. To do so organization follows some principles of management, division of work is the first principle of management which states that segregating the work among the employees increases the productivity of the organization as a whole, it also increases the effectiveness and efficiency of the workforce (Godfrey, 2015). I have observed from the work experience that Managers at OC Termemilano make sure that every work is segregated among its employees this keeps every employee focused on their work only and let them show their efforts at that particular task. My professional practice could be enhanced through this principle of management by knowing on what basis the segregation is done. The second principle of management is authority and responsibility these are also the key aspect of management, authority allows the management to work efficiently and responsibility makes them answerable for the work done under their authority (Tracy, 2015). The work-related skills related to this principle that I observed as an employee at OC Termemilano is the communication and motivation skills and the mentoring skill.

 

 

The third principle of management is discipline, managers must have disciplined staff as it makes their job easy and comprehensive. I observed this principle at QC Termemilano when I had to work even during the holiday just to make sure that clients are satisfied. Another example from my work experience is that he makes us work for an exact working hour. This professional practice could be enhanced by making it compulsory for the team members to be on time in the office and through the application of a proper code of conduct. The fourth principle of management is the unity of command which make sure that the employees must have only one boss or leader from whom they are supposed to get the command (Morden, 2016). At QC Termemilano I used to get the command from only one person which was my team leader. Another similar type of principle of management is the unity of direction which states that everyone in the organization must have a common goal and motive this makes the work of an organization easy to achieve. During my training, I was taught this principle of management. Through these two principles, my professional practice of reporting to and getting commands from the right person in an organization can be enhanced.

 

 

Another principle of management is the subordination of individual interest which defines that the personal interest of every individual must be subordinate to the interest of the organization as a whole. While working in the QC Termemilano I have observed that most of the employees give priority to their self-interest and not to that of the company, because of this it becomes difficult for the organization to achieve its goals. The organization can improve this attitude of its employees by giving them appropriate training and compensation for their work (Svatosova, 2020). Centralization is the other principle of management which states that the management or leader who is responsible for the decision-making process must be of neutral viewpoint, and thus there must be a balance between hierarchy and division of power. I observed some management competencies in the QC Termemilano while working with the team that management here motivates other employees in the organization to keep the working environment more positive. The problem-solving ability of management is good here and my professional skills problem solving could be enhanced by getting involved in the management of various events as it will increase my personal experience (Osborne, 2015). Conflict resolution competencies of leaders at QC Termemilano are not so good but they could be improved and my professional skills could be developed by integrating and socializing with different co-workers, this will ultimately reduce the conflicts between teams and employees.

 

Strategic development is defined as the method of planning, monitoring, and analyzing all the assessments of requirements that are required by the company to meet its aims and objectives. A manager plays a very important role in helping and guiding the workforce to reach the managerial goal. It is therefore important for an organization to keep up with all the changes that take place in the business environment by constantly assessing the strategies for success (Köseoglu, Law, Okumus, Barca, & Dogan, 2018). There are five phases that are identified for the process of strategic management. It is in the role of a manager to guide their organization towards the accomplishment of business aims. All of the organizations in a country exist have different aims and the managers help in combining and accessing organizational resources for achieving the aims and goals. Strategic goals are defined as big-picture aims for a company and they describe what steps will be taken by the organization to fulfill those aims. The main goal that I observed in my manager is that he developed operational excellence and value amongst the workforce. This requires the implementation of successful business hierarchies like developing better communication skills in the staff members, the ability to abide by the organization’s integrity, skilled body tone for a leader, and building the skills for conflict management that will help in the achievement of organizational goals. 

 

 

There are different strategic goals I have identified based on the growth and expansion of the business. They are defined under distinct scopes like financial, growth, learning or training, business processes, and customer strategic objectives. The financial objectives will help my organization for shaping profits, and budgets and measure costs for the organization (Gable, 2020). The growth strategic objectives help in expansion and increase the organization’s influence in the market and the development of new internal processes that will help in the overall growth of the company. The learning and operational strategic goals of the company will also help in increasing the business skills of staff members and eventually restructuring the operational process of business. The main aim that these strategic goals serve is to improve the business to customer tactics that will help in development in every aspect. 

 

 

As it is my role to specifically focus on meeting the defined strategic goals, another responsibility that comes with the post is to coordinate with the team and manager to keep a peacefully positive business environment that will help in building the human workforce, therefore earning the best of trust from consumers and maintaining the dignity of the organization (Evans, 2013). Another role of a manager that contributes to the performance and the strategic direction of business which I observed in my manager and leader is the way to reduce the workload from the line of managers and team members so that they can work at their level best. One key strategic direction that manager is implementing in the business is by developing the QC Termemilano as a brand and by promoting the other facilities such as providing staycations to locals as this contributes to more than 70% of the revenue of the business.

 

Thus it can be concluded from my experience which I shared in this journal that various work-related skills linked to the management and leadership roles in the QC Termemilano are essential for the development of the organization and for achieving various organizational goals which are mentioned above. The business works on different goals and aims which could be achieved with the help of different organizational and operational strategies. This enhances the performance of the organization as a whole and lets the business move in the strategic direction of the business to achieve the ultimate aim.

 

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