Topic 1 Managing and Performing

Question 1

1. What are the major challenges of managing in the new competitive
   landscape?

Answer 1

The Nature of Competition and the Challenges
• The changing environment
• Internet to dotcom to bubble burst
• Property boom to property boon
• Market /economy crash 1997/8, 2008, 2018 (?)
• Scandals – Hot issue in Malaysia
1 Managing in the New Competitive
Landscape
Management is a challenge requiring knowledge and skills to
adapt to new circumstances

Question 2

2. Describe the sources of competitive advantage for a company

Answer 2

Sources of Competitive Advantage

• Innovation
• Quality
• Service
• Speed
• Cost Competitiveness
• Sustainability

Bottom line reminders spur the need for innovation,
quality, service, speed, cost competitiveness, and
sustainability

Question 3

3. Explain how the functions of management are evolving in today’s
   business environment

Answer 3

The primary functions of management are
PLANNING, ORGANIZING, LEADING and
CONTROLLING
• Planning is analyzing a situation, determining the
goals that will be pursued, and deciding in
advance the actions needed to pursue these
goals.
– creating strategic value
• Organizing is assembling the resources needed to
complete the job and coordinating employees
and tasks for maximum success.
– building a dynamic organization
• Leading is motivating people and stimulating high
performance.
– mobilizing people
• Controlling is monitoring the progress of the
organization or the work unit toward goals and
then taking corrective actions as necessary.
- learning and changing

Question 4

5. Define the skills you need to be an effective manager

Answer 4

You and Your Career
Emotional intelligence
- The skills of understanding yourself, managing yourself, and dealing effectively with others.

Social capital
-Goodwill stemming from your social relationships

Be both a specialist and a generalist
Be self-reliant
Connect
Actively manage your relationship with your organization
Survive and thrive

Question 5

6. Discuss the principles that will help you manage your career

Answer 5

Common Practices of Successful
Executives
u They ask “What needs to be done?” not just
“What do I want to do?”
u They write an action plan. They don’t just think,
they do, based on a sound, ethical plan.
u They take responsibility for decisions.
u They focus on opportunities rather than
problems.

Question 6

FOOD FOR THOUGHT!
How can innovation, quality,
service, speed, cost
competitiveness, and
sustainability help OUM gain a
competitive advantage?

Answer 6

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