Question

Give your opinion, how the role management functions affect the success of a company like those unicorns?

Answer 1

The management functions on controlling the activity once it achieves the success in the company. It focuses on controlling the activities and removing the deficiencies any occurring.

Some key steps where management should specifically focus are: -

· Dynamic Capabilities: - There should be a plan to control the ever-changing or frequently changing technologies in the organization to cop up with the expectations demanded.

· People Centric Approach: - An organization should focus on enhancing the individual capability and then syncing the training provided with the work needed in the entity.

· Helps in networking with the surrounding: - There should be an open environment which should help its employees in interacting with its surroundings and helps in growing of the business in the system of corporate.

· Governing Rules and Regulation: - Rules should be thoroughly interpreted and their impact should be analyzed retrospectively to minimize its impact on the business of entity.

Further, efforts should be made to successfully create a management which involves the continuous and appropriate innovation in the society. A company should hold a management model which is aspiring to other or its peers which is based on the creations made and on new innovations.