MANAGERIAL CHALLENGE

Managerial Challenge

Executive Summary

Construction companies are under increased pressure to grow revenues and improve operating efficiency. Challenges in meeting growth targets include changes in consumers' demographics, increased competition in mature markets, increased spending on services, and the rise of private labels and the low success rate of new brands. We are definitely entering the era of innovation. It is influencing the way in which companies think about virtually every aspect of research, marketing product development, supplier and materials management, manufacturing, distribution, warranty and defect management, maintenance repair and overhaul, and product end-of-life and disposal. Innovation is global.

Innovation knows no boundaries. Its growth is being nurtured by active investments, grants and tax incentive policies of established, industrialized nations and emerging economies. Put in the context of the era of innovation, the “perfect product launch” and lifecycle management is now viewed in a different and expanded way.MDY Constructions Inc is a construction company based in New York. It was formed in the year 2009, right after the economic recession in the United States. Right after its start; MDY Constructions Inc has been facing a lot of managerial challenges. As a result, it has been a problem for MDY Constructions Inc to operate easily and progress in the competitive construction industry. This paper discussed all the managerial challenges such as the project management, operations management, information systems management etc and the ways through which, MDY Constructions Inc can overcome these managerial challenges.

Managerial Challenge

Introduction to the Assignment

Managerial Challenge is one of the biggest challenges that an organization has to face. It is because, if there is no proper management of an organization and its resources, the organization will never be able to progress in the longer run. Therefore, it is very important for every organization to deal their managerial challenges accordingly so that it is able to progress in every market that it enters.MDY Constructions Inc is a construction company based in New York. It is facing a lot of managerial challenges to progress and compete in the global market. The paper discusses all the managerial challenges faced by MDY Constructions Inc and the ways to overcome them.

Discussion

Role of Managers at MDY Constructions Inc

Management practice is characterized by power; the ability to influence others' behavior. By virtue of the power that managers hold, the variations in organizational design, relations between managers and employees, and HRM practices will be largely shaped by senior management. The power that the managers of MDY Constructions Inc have over their employees is actually an illusion. What they have instead is authority over their staff. The only power a manager has is the willingness and commitment of their employees to carry out their goals and vision. Managers are considered to be the boss who sits behind a desk all day pushing paperwork and not engaging with the staff. For a good working relationship to exist between staff and management there needs to be trust and honesty. There also needs to be a change in the way staff issues are dealt, ...