Several managerial actions can be applied to improve the performance of a company. Each of these measures has their advantages and disadvantages. The objective of every manager is to enable their business to achieve its goals. These goals can only be accomplished through management actions that signify the commitment of the employees to realizing them. Of all these different activities the most significant one is anticipating the future. An organization exists in an environment that is constantly changing. New threats and opportunities often occur when the company is least expecting it. Therefore, most organizations tend to take a wait and see approach before planning on how to react to these changes. These shifts can have a tremendous effect on the company thus could affect its future profitability. Trying to anticipate the future enables the business to adapt when the change arrives quickly (Hill, Schilling, &, Jones, 2017).
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This action will be the easiest to implement because it will provide freedom to employees and top management to look at the company’s current endeavors objectively. They will be required to forecast sudden changes in the market and try to predict how those shifts will affect the company. Technology is often changing, and many companies are often afraid of adopting new methodologies because of the investment involved. However, technology can provide a company with a competitive advantage over its rivals. When a corporation is looking for new ways in which it can transform its product or service technology can assist in making that transition quicker and more efficient.
Hill, C., Schilling, M., & Jones, G. (2017). Strategic management (12th ed.). Boston: Cengage Learning.
I think a good action to for executing a strategy in a better way is to integrate both the mechanisms of functional structure and geographical structure meanwhile creating an effective communication system within the whole channel. It would be good choice for every multinational firm since they operate in a number of companies and therefore need to have a division of different geographical features. Likewise, there must be following of a functional structure for each geographical structure which will report to a central office.
In that way, the organization can achieve an effective communication system as a best possible outcome since there would not be a very taller organizational structure where the communication becomes more difficult. Furthermore, this integrated system will be helpful for an organizational culture where power distance would not be a problem and employees would be much more cooperative to each other. Unlike the taller organizational structures, they would not have to depend upon multiple authorities in a single organization.
This managerial action may work as the most appropriate action to implement as it provides more control to the board of directors due to its flat structure. Moreover, it may also create more liaison among the coworkers as they would be representing a specific geographical area and may exchange ideas about the ongoing trends within their specific areas. For example, Starbucks coffee company adopts a geographical structure where it divides its operations according to the geographical features. In that case, the operations may go different depending upon that geographic area but the overall communication remains effective that is much more important than maintaining a single operation although the organization.
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