Research Problem Statement Essay Example | Topics and Well Written Essays - 2000 words

Research Problem Statement - Essay Example Dennis & Meola (2009) give an example of UK firms, which lose approximately 19 million dollars daily due to bad management. This is moderately attributable to the firm’s wastage of time due to their leader’s inefficiency. It is evident that the significant bits of organization include its management to great extents. For a business to address the needs of its employees, leaders, and consumers, it needs proper management. Therefore, it becomes extremely problematic for organizations to realize acceptable profits when they have such poor management. Most entities fail because their managers focus on increasing their sales and quality of their goods. Indeed such categories of headship do not care about the general organization of their institutions, hence increasing management problems. This makes them forget their roles in control and organizing, as well as the workers’ roles. The goals of many businesses entail increasing the outputs and lowering the expenses. A b alance of these two ideas of increment in output and expense reduction obviously qualifies for perfect management. Conversely, these are short-term benefits because the businesses success depends on the long-term benefits, which entail motivating the personnel, but most administrators ignore this. The motivation of employees helps in the creation of a functional business environment (Dennis & Meola, 2009). Evidently, this functional business is devoid of poor management and all the negativities associated with such leadership. The sub problems evident from the question above include Poor leadership Poor communication Poor organizational structure Organizational culture Decision-making Policies Possible Sub-problems Poor Leadership Hypothesis Leaders with good leadership skills will motivate the employees. If organizational leaders involve the workers in the management of the business, the business will perform highly Brief Description Effective management entails good leadership and proper communication. Poor leadership tendencies are the most noticeable management problems in businesses. According to Dennis & Meola (2009), some leaders in organizations are incompetent making organizations fail to realizing their goals because of their inability to foresee the business challenges (Dennis & Meola, 2009). Additionally, they fail to challenge the employees making the workers perform poorly. Poor leaders are usually inexperienced and cannot handle conflicts in an organization. As such, the inability to control conflicts by the leaders in a firm is a sign of poor management. In Poor Decision Making Hypothesis Proper decision making in an organization will increase the corporate efficiency Brief Description Another sub-problem, which is common in the corporate institutions, is the phenomenon of decision-making. Evidently, decision-making affects the operation of organizations to exemplary levels. When there is poor management running any organization, it is obvious that the consequent decisions will be inappropriate. An organization only achieves its goals and other ultimatums if the management makes proper decisions. It then becomes a chief problem when these decisions present challenges to the behavior of the human resources. Certain decisions, which the management of the organization makes, affect the organization because of the mentioned relationship. Therefore, an organization has trouble when relevant decision making departments fail to

Economic science Essay Example | Topics and Well Written Essays - 1000 words

Economic science - Essay Example In order to fully comprehend the phenomena of transaction cost and/or evolutionary economics, it is imperative that the concept of management accounting be fully understood as well. Management accounting may be defined in various manners. It is basically related to the use of accounting information by managers of organizations. It helps them in making prudent and timely decisions to run their businesses in an efficient and effective manner. "Transaction Cost Economics concerns itself with markets and hierarchies as alternative governance mechanisms for completing a set of transactions. Market forms of governance tend to rely on prices, competition, and contracts to keep all parties to an exchange informed of their rights and responsibilities it is based on two assumptions about economic actorseconomic transactions are intendedly rational, but only limitedly so and economic actors seek self-interest with guile." (http://findarticles.com/p/articles/mi_qa3933/is_199811/ai_n8812605/print) According to Williamson (1996), this type of economics is basically related to the, "governance of contractual relations" and it consists of three levels which can be easily understood by means of the schematic diagram shown below: The institutional environment helps us to understand and define that "rules of the game". This includes all those factors that may influence or result in a change in the "comparative governance costs leading to a reconfiguration of economic organization". Williamson has basically defined governance to be of three types; market, hybrid and hierarchy. The individual basically is a, "result of the strict assumption of opportunism (i.e., self -interest seeking with guile) and human cognition is subject to bounded rationality (i.e., "intendedly rational, but only limitedly so"). In addition, TCE views governance as the means, "by which to infuse order, thereby to mitigate conflict and realize mutual gains the key purpose of organization on which transaction cost economics focuses is that of adaptation, of which two kinds were distinguished: autonomous adaptation in response to changes in relative prices, and cooperative adaptation accomplished through administration. Not only do transactions have differing "needs" for adaptations of these two kinds, but governance structures have differing capacities to supply autonomous and cooperative adaptation". (Williamson 2000, pp. 12, 19-20) New Institutional Theory Oliver Williamson is popularly known as the founder of the New Institutional Theory (also called the Evolutionary Theories of Economics) and he also coined the term "institutional economics" in 1975. However, its origins can be traced back to the works of Coase (1937), Hayek (1937, 1945), Chandler (1962), Simon (1947), Arrow (1963), Davis and North (1971), Alchian and Demsetz (1972), Macneil (1978), Holmstrm (1979) and others. Various definitions for the new institutional theory can be found in literature. Rosenberg (2000,p. 70) has defined it as, "a mechanism blind variation and natural selection that operates everywhere and always throughout the universe." "The new institution