GLOBAL CHALLENGE



Global Challenges for Business, Management and Leadership

Table of Contents

1.0 Introduction1

Management Theory1

Competing Values Framework2

2.0 Application3

2.1 The Organization-British Petroleum3

SWOT Analysis (mootee.typepad.com)4

Strengths4

Weaknesses4

Opportunities4

Threats4

PESTLE5

Porter's Five Forces6

2.2 Management at BP8

3.0 The Challenge8

3.1 Impact on BP9

4.0 Recommendations9

5.0 Conclusion11

6.0 References12

Appendices14

Global Challenges for Business, Management and Leadership

1.0 Introduction

Management Theory

In order to understand the concept of management theory, it is important to understand the meanings of management and theory separately. Management is defined as an art, or science for the achievement of goals and objectives of an organization through people. Managers also play the role of supervising their juniors; therefore, management can be thought of the process to make sure that people are doing what they are supposed to do. Therefore, they are expected to ensure more productivity, for the purpose of maintaining continuous improvement (Cameron et al. 2006: 56).

More broadly, management is the process of designing and maintaining the organization in which people work together and efficiently accomplish selected goals and objectives.

In addition to that, theories are considered to be providing a stable focus to understand what the organization experiences (Linstead 2009: 179). A theory provides criteria for what is relevant. Moreover, theories allow the managers and workforce to communicate effectively, thus, allowing managers to move into more typical and complex relationships with other staff. Next, theories allow learning about the world constantly (Lowe et al. 2000: 543).

Management theory is an art of organized knowledge about managing people and organization. It involves the development of concepts, principles, and techniques. Several theories have been introduced, which explains the emergence of theories over time. Each approach has its own characteristics and advantages and limitations (Robbins et al. 2008: 205).

Also, management theories include all issues ranging from demographic shifts in the society, which affects the organizational behavior and Human Resources to social changes that arise from the advances in technologies such as value of privacy, virtual societies, and artificial intelligence to strategic institutional changes that arise from trends in local and national governance (Robbins et al. 2008: 206).

Competing Values Framework

Competing Value Framework is considered as one of the fifty most essential models in the history of business. It can be used at all levels in the organization.

The first dimension emphasizes on flexibility, discretion, dynamism, stability, order, and control. For instance, those managers are considered as efficient when they change, adapt, and transform constantly. Other are viewed as efficient if they are consistent, and conventional. It ranges from versatility and pliability on one end to steadiness and durability on the other end (Huczynski et al. 2007: 256).

The next dimension distinguishes an internal orientation with a focus on integration, collaboration, and unity from an external orientation with a focus on differentiation, competition, and rivalry. For instance, some managers are considered as effective and efficient when they have harmonious internal relationships and methods. Others are viewed as successful if they compete against other organizations and managers to establish a market for their products and services (Lustgarten 2010: ...