Unfolding the Secrets to Successful Management Assignment

Unfolding the Secrets to Successful Management - Assignment Example Big problems can result and the blame would obviously be laid on me in the end. So, I made it my responsibility almost from the starting period to create the right kind of environment at my store in order to manage a culturally diverse workforce. Creating the right kind of atmosphere means enabling the workers to understand and respect different cultures and consider all opinions in a manner free of cultural prejudices and biases. Things which might be acceptable in one culture might appear to be truly inappropriate for working coming from a different cultural background. So making the workers realize the subtle and sensitive differences between different cultures by providing them with increased means of intercommunication can help a manager immensely in handling a culturally diverse workforce. 2. What tools do you employ to handle the workplace conflicts which can be disastrous for the work environment? You might have noticed that many times conflicts originate due to every worker appearing to be involved in his/her own world, presenting ideas that antagonize ideas introduced by other workers, and refusing to genuinely collaborate with others. Therefore, for one thing, I try handling workplace conflicts by laying stress on the importance of teamwork and mutual collaboration which is all teamwork actually is about. Conflicts also arise between employers and employees when a low level of creativity is consistently maintained by employees. So I have taken it upon myself to encourage my workers to be innovative and creative in whatever job they do here. I happened to be quite authoritative in my initial days which led to a low level of creativity and less production which is why I changed my management style and became more involved to avoid conflicts. 3. What strategies do you follow to address the confusions and prejudices which result due to less communication between managers and employees? I understand that less communication between managers and employees i s a grave issue and raises serious concern for the organizations. As I mentioned before, many changes came in this store I work as a manager at during the authoritarian management days like workplace-related stress, conflicts due to cultural diversity handled in the wrong way, less communication, and myriad confusions. I could not realize these bad and harmful changes until I became involved with my workers and began to take interest in what issue they were facing and how they could be solved. When there is less communication, workers begin to feel confused about certain orders as they are not explained in a more enhanced way by the managers and certain jobs are left undone consequently.  

Capstone on United Bankshares, Inc Research Paper

Capstone on United Bankshares, Inc - Research Paper Example The vision is to provide loans and other financial support instruments to organizations and businesses that are very productive from their banking subsidiaries. Stakeholders are those who affect and are affected by the operations of a business (Freeman, 2009: p3). The main stakeholders of Bankshares Inc are their staff members who are knowledgeable business professional with in-depth knowledge of the markets and financial trends. The second group of stakeholders are the subsidiary banks that provide the financing when the bank gets good and accurate forecasts. A third group of primary stakeholders are the businesses that acquire loans from UBSI. Porters Five Forces describes a given industry or competitive terrain for an organization (Henry, 2010). In doing this, there are five distinct forces that define the competitive position and scope of the industry. They include: 2. Threat of Suppliers: This is a major threat because the suppliers of loans and other banking services of USBI could build in-house business advisory and investment banking units and not need USBIs services. 4. Ease of Entry: It is fairly easy for anyone to start a financial advisory and brokerage firm. However, it is not very easy to build the kind of goodwill USBI has with banks. This include owning subsidiaries and controlling affairs. 5. Competitive Rivalry: This include other providers of services similar to USBI. This include Bank of America Corporation, BB&T Corporation and BankUnited Inc. These are financial intermediaries that own bank subsidiaries and look for investment opportunities that have very high yield. This is high and provides a major cause of concern for UBSI 1. Subsidiary banks: There is the need for the banks in the USBI network to be prepared for the expansion. They would have to be adjusted and examined for expansion and growth of the operations and activities. The units need to be given much