Small businesses during colleges. ManagementOctober 29, 2017
This essay assesses my knowledge of how to start a good business at Taylor College and provide my reasons got selecting that specific business. The essay topic then says that behavioral theory and on temporary management perspectives need to be discussed. Relevant aspects of these theories will then be applied to my stated business. This essay then stars with a description of my chosen business and gives the reasons of my choice. This will be followed by a discussion of behavioral theories in details.
These are Classical Approaches, Hawthorne studies, Measles’s theory of motivations and theory X and theory Y. This will be followed by a description contemporary management theories and systems thinking. The business that I selected to discussed in this essay is create a smart phone application that is associated with Study Smart Taylor College. This Idea will not restricted with only Taylor College, But also accessible for all colleges that uses Study Smart, such as Martin College or any other potential colleges that will be joining study smart in the future.
The way of this business will work is, First, I will book an appointment with the IT head of department, Principle and Dean of different orgasm, Such as, Tell, AWAY foundation and Diploma of Commerce and different department of Taylor college. Suggest them with my business plan and acquire their knowledge and experience to set up this business, because without their support, there’s no other way at the moment that I’m able to associate with Study Smart Group.
First, I will work with the IT faculty of the progress, procedure and the technical part of creating the Study Smart smart phone application. The main thing for the technical part of this application Is needed to be easy user and access with the lowest consumption of data. Because if it’s too complicated students might not like using it of they are confuse with the function and all of them will prefer using the computer instead of the smart phone application. Furthermore, I will have to discuss with the marketing department and the bursary about how to attract student to purchase this APS.
My suggested business plan will be, when new enrollment of students is coming in for the next semester, on the course and fees, there will be an optional of purchasing the application, it comes with the package of trials papers and mock test for different courses and units. It will be stating as a strongly recommended optional, because every student In Taylor college Is necessary to access study smart to check their course result or acquire information of their course overview.
This application is exactly the same as you can access through the computer but it will be much more easy user and convenience comparing with using a computer website. It will following by, discussing the cost and price of the application. What’s the cost budget of creating that application, and what’s the price of selling in order to break even, or even make a profit out of it. This is a long term ‘OFF unrolling more and more students over the years, therefore, the demand for it will keep on growing in the long run.
The reason of choosing this business is, I’ve been a Taylor College student for more than a year, I am standing at a student’s point of view to think of this business. Sometimes it is very frustrating when you would love to access study smart through the hub in Taylor College, but all of the computers are fully occupied. Most of the student will be walking to college from the station or even the bus stop, therefore, bringing a lap top on top of all the text books and lecture note Just make the Journey o acquire knowledge and education heavier and lazier.
But in this case, if there’s a smart phone application to access Study Smart, that would be fantastic, because, every college student will bring phones to school, and this is Just an application installed in the phone. In addition, the IT department will try to make the application as easy user as possible to help students easier to access the application and stop with the frustration of waiting for computers during peak time and when they’re rushing. One of the most important and attractive function of this application is it will eave a category of redoing all the mock test and trial papers.
As a Taylor student, I personally realized there’s not enough mock test papers and trial papers for me to practice before exam. The price of it will shouldn’t be a problem, because this application can be purchasing with paying the fees, therefore, its Just ($3. 99- $7. 99) on top of the school fees, with the cost of students participating in Taylor College, it is extremely reasonable price for them to purchase this application Last but not least, Study smart is basically a necessity for every Taylor College students because all information of our courses, units and grades can be acquire there.
The classical approach to management for this business will be a hybrid of Administrative principle by Henry Payola (1916) and Bureaucratic organization by Max Weber. In 1916, Henry Payola was a French mining engineer published Administration Industrially et General. This book identifies the five main element of management, such as, foresight, organization, command, coordination, control. But on the other hand, in the late 19th century, there was a German sociologist and political economist, developed an idea of overcome the performance deficiency of companies n his generation, describe as- Bureaucratic organization.
This Bureaucratic actually means a rational and efficient form of organization, by solve problem logically, following orders and set hierarchy status. The defining characteristic of Bureaucratic organization are, division of labor, hierarchy of authority, formal rules and procedures, impersonality and careers base on merit. For my business, there will be a combination of both of these approaches to perfect my business plan. First, I will be applying foresight from Administrative principle by gathering the other department to create a plan of action for future procedure and progress.
After that, will get a clear division of labor from Bureaucratic organizations, by well defining the Jobs, different department work with their skill to perform high efficiency, for instance, IT department will be doing the application design and technical problems with the application, for marketing department will be doing the promotion of the cost budget of creating and maintaining the application, and the price of selling the application in order to break even or even make a profit.
With the command duties from Administrative principles, every department will have a leader to lead, guide ND evaluate other workers to achieve the best performance towards the work. Additionally, with the coordination played in the role of, diverse all the effort and work to every workers equally, to prevent stress working environment and ensure all the information is shared within a department, with minimized miscommunication and problem solved.
Following by, control, is to ensure everything is according to plan, such as, progressing within due dates, if there’s any problem, will take necessary corrective actions. Last but not least, setting clear hierarchy of authority, such as, after all departments finish or have a problem with the work they are working on it, they will have to report to the dean of different courses, and the deans of different courses will report to the principle about the progress.
In addition, if there’s any decision making part, departments need the approval of the deans or the principle in order to moving on with their work. The behavioral approaches to management for this business will be Hawthorne Studies, Mason’s theory and McGregor Theory X and Theory Y. The Hawthorne Studies, started in 1924 in a Western Electric Plant lead by Elton Mayo for scientific management studies of the relationship between productivity and lights. Surprisingly, the changes physical surrounding, does not affect the efficiency of the selected group of workers.
After 8 years of extensive research, it became clear that working condition is not the main factor of productivity, instead, there’s another factor uprising, which is, relationship between workers and the group norm and atmosphere. According to Sandstorm et al, (2000) These factors, are taking into account of workers emotion, ultimately, the incentives of keeping workers to increase efficiency and productivity is to keep workers and manager satisfy and have a costive and delightful spirit and enthusiastic to work.
In this case, for my business, Taylor College have a friendly environment and friendly employee. Through observation, all employees have a good relationship with each others, and Taylor college do organize some food party in Taylor College for the staff every Friday to keep staff catching up and socialize with each others. The Moscow Theory, Abraham Moscow identified that everyone’s want and needs are different due to different factors, such as individual financial, cultural and hierarchy status.
According to Steers et al, (2004) everyone is different in a way, which helped angers visualize and identify workers incentives and motivations. Moscow Theory broke down the needs into five different areas. There’s self actualization needs, esteem needs, social needs, safety needs and physiological needs. Douglas Mcgregor, in 1960 published his book ‘The Human Side Of Enterprise’. Theory X and Y is a simple theory of universal rule of managing human being, which under the peer pressure of daily business are all too easy to forget.
Theory X is more towards to, which they defined it as Shaw (1955) authoritarian leadership style, which Furthermore, they will have to face the threat of punishment if can’t meet company objectives, in addition, workers are ambitious, not motivated and work by lacking of enthusiastic. But on the other hand, Greenfield, W. M (2004), define Theory Y as participative management style, which have to characteristic of workers usually are responsible to their work, have commitment and enthusiastic towards their plan, have a capacity of high degree of imagination and creativity to solve problems.
Commitment comes with rewards afterward. After an extensive research, Ms Gregory conclude that people with theory Y and usually much more successful than people that apply theory X. There’s two modern approaches to management, which are Contingency theory and System thinking. Contingency theory, is a very important implication extend to all management function, in simple English, it means, a type of thinking to plan of how to respond to different kind of situation happen.
It can help managers to analyze and understand the situations in different point of view and respond to them in the most appropriate way to achieve optimal result. Garret Morgan published a book Images of Organization in 2007, it talk about how company balance and satisfy the financial, internal, external needs with an open system and how they adapt to different environmental circumstances. According to the book, there is no perfect way of organizing or a perfect management system or theory, the appropriate way of solving is depending on different kind of task or situation.
Different industries and sizes of organization are applying different type of contingency plan. Contingency thinking makes managers to brainstorming and take into account of all other possible factors, therefore the company can instantly response to different kind of situation changes. The contingency plan for this business is actually very flexible, there are only very few errors that will occur in this business, such as, system failure and college close down. Therefore, before the business starts, I will discussed with Taylor College departments about the reserve capital.
Reserve capital is basically precautionary savings, which is an amount of money used to spent for emergency events such as system failure. Furthermore, if Taylor College closed down within time, this application will not be working anymore, but on the other hand, this is an idea that an be apply to any other college that’s relying on technological advance, I will take this idea I do some market research around other colleges or university, select a few potential institution and proposed the plan to them to acquire a partnership, with the help of my experience and knowledge in this industry that I’ve been in before.
The other modern approach to management is System thinking, System thinking is basically combining all different input factors together and produce the same and main outputs to provide goods and services to the customers.
It is an organization achieve supply from the supplier, and with the combination of different subsystems, such as, Purchasing and Inventory systems, Marketing, sales and distribution systems, accounting and financial system, Information and technology systems, operations and service management systems, to serve a common purpose of In my business plan we do take system thinking as one of our most important theory to be apply on, such as, purchasing and inventory system, is the business purchase all the information, trials and mock test papers from Taylor College and Study Group, follow by, cooperate with the marketing and accounting department for rumination and budget cost and price, following by information technology system, communicate with IT department of Taylor College to design the application and keeping up with the progress and maintenance. Last but not least, the operation and service management systems. This is to plan all the contingency plans, and set clear division of labor to complete the project. In order to be successful and satisfy customers, our product have to be high quality and performance excellence, therefore we will have to go through a quality control system which they called it TTS (total quality management). First, we need the resources and materials to flow in , that every semesters the new exam papers and mock test have to keep on updating to the application.
Then, materials received and organized for used, all the information received, then we need the IT specialist to classified different information into different kind of category in the APS, such as management information, will be classify in management course, descriptive statistic information will be allocated in the business statistics course. Moving on with people and technology create product, will be, the combination with IT specialist skills and imputer to keep on maintaining and updating the application. Finished product distribution, when technical and design of the application is ready, then customer served, it means it will be available on Apple APS store or Android market.
In conclusion, this business plan require a number of resources and management planning, it included most of the theory and ideas taught in the management course to maximize productivity and efficiency of a business. After extensive research of all these theories, I finally realized the importance of management in a business, a equines can hardly be successful without management theory applied.