MODULE: MANAGING COMMUNICATIONS, KNOWLEDGE AND INFORMATION
NAME: THIYAGARAJAH ELANGO
UNIT LEVEL: H1
UNIT NUMBER: 16
ASSESS INFORMATION AND KNOWLEDGE NEEDS 3
STRATEGIES TO IMPROVE PERSONAL NETWORKING-L02 6
STRATEGIES TO IMPROVE PERSONAL NETWORKING-L03 8
DESIGN AND IMPROVE APPROPRIATE SYSTEMS 10
I’m going to use a company called Masters Advertising Ltd., for the entire tasks of this Assignment. The company is an Advertising Agent which having its business in Sri Lanka for the last 46 years.
a) Examples of Business Decisions
Strategic level business decisions.
These are the business decisions taken by the top level management by foreseeing the company’s future in the next 5 years time or more than that.
The following can be an example for a strategic level business decision.
“Becoming the leading advertising firm in Sri Lanka.”
This is about becoming the best innovative firm with a huge number of multinational and global client bases. Leading Advertising firm means the firm should have more clients in all different kinds of businesses and the Adverts it produces must be innovative from the other Advertising agents.
This decision is made and monitored by the top level management of the organization like the CEO, General Manager, Board of Directors and Managing Directors. They are the people involved in making these decisions and to keep the organization in the right path towards achieving those decisions.
Normally the strategic level decisions are made considering more than 4 or 5 years of the company’s future. These decisions must be well analyzed and must suit for the market changes occurring until the targeted date.
Tactical level business decisions.
Tactical level decisions are made to help achieving the Strategic level decisions of an organization. These decisions are targeted to the next 2 to 4 years of its business operations. Tactical level decisions are made and monitored by middle level managers like departmental heads. Middle level managers have the responsibility to ensure that the business operations are on the right track to achieve the tactical level decisions because they directly affect the achievement of the company’s Strategic level decisions.
The following can be an example for a Tactical level business decision.
“Having the best multinational businesses which operate in Sri Lanka as our clients.”
This is about attracting the best businesses operating in Sri Lanka and to turn them from our competitors. Having multinational clients means there is business throughout the year for advertising agents. Multinational companies like Unilever have hundreds of products to advertise throughout the year. These companies always go for mass advertising and reserve a lot of money for advertising each year. They are a medium to show our creativity and to attract other clients also.
Operational level business decisions.
These are the decisions made to ensure that the day to day operations of an organization are running smoothly without any major mistakes. These decisions are very occasionally monitored like for every single activity by supervisors or by operational level Managers. Day to day activities of operational level staff is covered under these decisions.
The following can be an example for an Operational level business decision.
“Obtaining three different people’s signatures in every payment vouchers prepared for paying money to suppliers by the Accounts department.”
This includes the signatures of the person who prepared the payment voucher, normally the Accounts clerk, the person who checked the payment voucher which is the Accountant, and the person who approved the payment, which is the Finance…