University of Miami Business Success Discussion

No word count respond to each separately.

Respond: When it comes to running a successful organization it requires so much teamwork and strategies so things can run smoothly and efficiently. That is why there are so many groups of people that work in these organizations that are at higher rank so they can lead other people within the company to do the right things and to guide them down the right path to make the right decisions. The role of the Board is to provide leadership to the Company and to deliver Shareholder value over the long term. … The Board has overall responsibility for the management and oversight of the Group and its activities, providing entrepreneurial leadership within a control framework. The Board has overall responsibility for the management and oversight of the Group and its activities, providing entrepreneurial leadership within a control framework. It is responsible for approving the Group’s strategic objectives and ensuring that the necessary financial and human resources are made available to meet those objectives. Through the Audit Committee, the Board also reviews the Company’s risk management and internal control systems on an ongoing basis. Management is the process of guiding the development, maintenance, and allocation of resources to attain organizational goals. Managers are the people in the organization responsible for developing and carrying out this management process. Management is dynamic by nature and evolves to meet needs and constraints in the organization’s internal and external environments. In a global marketplace where the rate of change is rapidly increasing, flexibility and adaptability are crucial to the managerial process. This process is based in four key functional areas of the organization: planning, organizing, leading, and controlling. Although these activities are discussed separately in the chapter, they actually form a tightly integrated cycle of thoughts and actions. Overall, both of these teams work together to help others that work for the same organization that are under them to make the right choices and to really come up with strategies together and put everyOverall, both of these teams work together to help others that work for the same organization that are under them to make the right choices and to really come up with strategies together and put everyone’s thoughts together so they can have plans that work for the company and keep them successful. If you don’t have any teamwork then you won’t have any success.one’s thoughts together so they can have plans that work for the company and keep them successful. If you don’t have any teamwork then you won’t have any success.

Respond: The board is responsible for choosing leadership, such as the CEO. The board also makes major business decisions that affect production and overall success of the organization as well as tracking the performance. The decisions that the board makes are those that effect the organization financially and physically. The boards expects management to report issues and or concerns directly to them so that this can be taken into consideration when the board is faced to make major business altering decisions. The management team makes operational decisions based on the direction from the board. Both board and management are responsible for meeting business goals which keep in line with organizations mission and vision. Management creates policies and procedures based on recommendations from the board and is responsible for managing staff so that everyone is on the same page.

The relationship between board and management is crucial and requires a teamwork approach. Without a team effort, the quality and safety within an organization is likely to be low. And if the quality and safety is low, then the organization will not be successful and ultimately fail. It is important that everyone understands what the goals are and how to achieve them. While the board produces the goals based on where the organization is and needs to be, the management team needs to on board so that they can implement the goals to their staff. Creating a clear vision that is easy to understand will be most beneficial to all. If staff are not able to see the bigger picture and understand the importance of the mission and vision, then creates an off balance in dynamics and no one is communicating effectively. As we all know, communication is the key to success and without it can lead to big problems.