What strategy will allow a business to adapt as the competitive landscape evolves?

What is a Management Brief?

 Video Words: Chapter 01: Concept Clip: Management Functions Today’s leaders face many challenges and confront difficult decisions every day. Do they add new products? Do they focus on cost savings? Should they compete directly with competitors? Do they invest money to create a new product or service? How do they motivate employees? Should they add new technology? Success in this environment requires a strong knowledge of the three pillars of management: one, strategic positioning; two, organizational design; and three, individual leadership. Within each, there is a mutual interdependence and interconnectivity. At the strategic level, leaders must understand the environmental landscape in which businesses compete. Key questions a manager must ask include: How should a business compete? What strategy will allow a business to adapt as the competitive landscape evolves? How will globalization impact business? Knowing what strategy to pursue is only the first part of the management puzzle. The next piece involves developing and aligning the organization to achieve the strategic objectives. Key questions include: What organizational structure will enable to firm to optimize its resources? How will performance be measured? How does an organization remain competitive? Finally, an organization is simply a collection of individuals who come together to achieve a common goal or objective. But how does one coordinate diverse individuals to work together? The answer is effective leadership. Key questions include: How do managers use power and influence? How do they make critical decisions? What motivates others, and how do managers create effective teams? Knowing the three pillars of management will help leaders be more successful in today’s challenging environment. 1. Management briefs are one-page writing exercises designed to give you the opportunity to reflect on a current management topic. You are asked to provide a clear report of the trends affecting management today after reading a management source or reviewing a management video. 2. A good brief includes an introduction paragraph, two paragraphs for the body of the brief, and a conclusion paragraph.