Question

ROLE OF EFFECTIVE MANAGEMENT IN PROFIT PERFORMANCE OF AN ORGANIZATION

Answer 1

The management plays a vital role in structuring the organization for boosting the performances and high-rising the profits. There are various ways through which management leads the organization and its processes so that all the dealings work well at its standards. The decision-making process, marketing strategies, planning, objectives, training, and development are some necessary factors to complete the effective management process.

For an example; a company has initiated its business process in the big city and it requires performing several workouts to stabilize the business in the market. The market must comprise of other competitors who are actively engaging in the same business process. To deal with this situation management effectiveness is essential. The first role by the management that requires performing the process correctly i.e. it should validate several segments like demographics, Geographic’s, and social behaviors of the consumers. Through this process, the organization can concentrate on the group of the population and it will be beneficial for them to target the audiences that will be effective in the sense of profit generation. As the segments will be obtained, the marketing mediums will be decided to get the feedback of the consumers based on the products, and through this mode, the organization can fix any issue or implement the standard as per the demand raised. The management is required to perform the stable manufacturing process of the products by maintaining the high-quality standard. The quality will affect the mind of the consumers and it is the best process of customer retention, apart from quality, the management should proctor that their customers are getting the full support and services from them at all cost. The organization's management should perform several SWOT analyses to validate the decisions, strategies, and should identify the threats or weakness so that it can be correctly undertaken to overcome it into opportunities. The pricing strategy is an important part of the business that influences the customers to stick to the organization that also requires giving importance in the business process for stable profit generation. Lastly, the contingency plans are also necessary to be fixed during an absurd situation, and for competitors advantage, it is required to monitor each decision of the management to be correctly undertaken to obtain the positive results in any dealings at the business operation. The supply chain process of the organization must be seamless and it should provide with good quality products so that the manufacturing process can be correctly undertaken for producing best quality products. These can be highly influential for stable business growth and also beneficial for company expansion into several other zones.  

The internal part of the organization that should be effectively undertaken is to manage the staffs and to ensure that all employees working under one roof should work coordinately with avoiding any employee diversification. The team leaders, HR managers, and the directors should ensure in the constructive team building with the strategic hiring process. It will be essential for the organizations to maintain the effective management process, performances, and lead the growth with better revenue generation.