Functions of Management in Different Spheres Assignment

Functions of Management in Different Spheres - Assignment Example Therefore, movie-on-demand is a competitive substitute for the blockbuster movies. The major stakeholders of the university include; foundation members, the board of trustees, business and industry. The students are the major stakeholders in the university because they influence the long and short-term goals of the university. Managing diversity in the organization can be done by developing an organizational culture, which synchronizes the diverse cultures into the organizational policy and operation. In addition, cultural integration practices can be used to develop the necessary group cohesion. The manager can employ cultural acceptance to avoid conflict between individuals. Lack of accountability is the major barrier to goal setting. However, as a manager, the development of step plans to achieve the set goals. However, the accountability is the vital aspect of goal setting. Start the business from scratch offer the opportunity to understand the business effectively thereby reducing the chances of collapse. Proper planning of a new business venture is easy compared to a takeover business. However, take over business has an advantage of having already set capital and infrastructure outlay. Business engineering is the process of redesigning the business operations in order to improve performance and develop success in the whole process. Re-engineering can be integrated as a product of competition or the introduction of new products by the company which is intended to improve the business performance The internal recruitment process is simple and easy to be employed. The staff does not need to be oriented to the company as such they can assume the new roles with ease. However, it reduces the pool of choice while also limiting injection of new ideas. External recruitment offers the opportunity to inject new blood into the system thus  allowing for new ideas to be developed. External recruitment offers the company the opportunity to add new employees with better skills. However, the major problem with external recruitment is time constraints and the need for further training of the new stuff on the company details and system of operation.