QUẢN TRỊ HỌC tiếng anh thương mại Retaining talented employees is essential to the longterm development and success of a company. Managers readily agree that keeping the best employees ensures customer satisfaction, who are used to communicating with those employees, along with increased product sales as well as maintaining relationships among coworkers. Besides, the company does not need too much time to recruit others and spends a long period training them. To retain talented employees, firstly, we should figure out the reason why they want to give up their present job. We should not express negative attitudes to them because that just makes them feel more irritated. This step is important for you to know what your staff want, then you can give the best solutions. After finding out the reasons, there may be some of these following situations: + If the reasons relate to their benefits, the company should consider offering them a higher salary or allowances, encouraging them by raising the sales bonus. Moreover, if that employee has been working for a long time and considerably contributing to the company, they should be given other fringe benefits such as traveling, thirteen and fourteen month salary or transportation vehicles. ● For example, if the staff says that the gasoline price is too high and they want to find a job near hisher house, the company should offer himher a higher traveling subsidy to partly reduce hisher burden.
Trang 1FINAL TEST
Lecturer: Nguyen Thi Diem Em ( Ms Emmy)
Student: Le Thi Ngoc Hang - AV002
Question 1: What is the relationship among four functions of
management?
- Management plays an important role in business as well as the
economy It includes 4 main functions that combine smoothly and create the best result for an organization
+ Firstly is Planning (set the goals and objectives for the company, determine all the steps): Planning refers to identifying the
organization's future goals, and determining the work and use of resources needed to achieve them
+ Secondly is Organizing (organizing all the activities and assigning tasks for team members): Organizing consists of assigning and grouping the work into departments, delegating, and allocating resources throughout the organization It ensures that each department has their own suitable task
+ Thirdly is Leading (motivating, communicating with others, and developing their potential): Leadership consists of creating values and cultures, spreading goals to people throughout the
organization, and inspiring employees to get them to perform with higher results
+ Finally is Controlling (establishing the goals and measuring the progress) : Control involves supervising employees'
performances, determining whether the organization is on track to achieving its goals, and making adjustments when necessary
- The relationships among four functions of management are closely linked with each other, relate and interact with each other Whether
a business is large or small, a functional manager will also help
businesses effectively manage resources and maintain operations, thrive sustainably and effectively in the future
- These functions work together in the creation, execution and realization of organizational goals The four functions of management can be considered a
Trang 2process where each function builds on the previous one For example,
only when you have a clear plan of objective can you know how to organize and distribute it into tasks to be done
- The functions of management have a connecting task with each
other, these functions will consolidate each other, and the
harmonious distribution functions will help organizations and businesses develop and grow over time
- Furthermore, these four functions are smoothly coordinated, ensuring
work progress and reducing risks as well as simplifying processes
=> Each company or organization should focus on the management functions
If they apply them appropriately into work, they can achieve the goals much easier
Question 2: How to retain talent employees? Explain and give example (20%)
- Retaining talented employees is essential to the long-term
development and success of a company Managers readily agree that keeping the best employees ensures customer satisfaction, who are used to communicating with those employees, along with increased product sales as well as maintaining relationships among coworkers Besides, the company does not need too much time to recruit others and spends a long period training them
- To retain talented employees, firstly, we should figure out the reason
why they want to give up their present job We should not express
negative attitudes to them because that just makes them feel more irritated This step is important for you to know what your staff want, then you can give the best solutions After finding out the reasons, there may be some of these following situations:
+ If the reasons relate to their benefits, the company should
consider offering them a higher salary or allowances, encouraging them by raising the sales bonus Moreover, if that employee has been working for a long time and considerably contributing to the company, they should be given other fringe benefits such as traveling, thirteen and fourteen month - salary or transportation vehicles
● For example, if the staff says that the gasoline price is too high and they want to find a job near his/her house, the company should offer him/her a higher traveling subsidy to partly reduce his/her burden
Trang 3+ If the reasons relate to their career development, you should
take it into account to offer them a higher training course, or even training abroad provided that they are still working for your
company for a specific period of time This shows that you are willing to pay for their development
● For instance, if the employee wants to leave for more promotion opportunities, the boss should offer him/her a free course, after this course, they will take a test and have
a promotion if they are eligible They will have both a chance to promote and widen technical knowledge
+ If they refuse to tell you the reasons, try asking from other
employees and have a look at their working conditions If necessary, you should make a change in the working area and company culture You should not heavily criticize them and ignore their effort, instead, giving compliments and encouraging their good points will be much better, because this makes them feel that they are “existing” and “highly appreciated” in your company
=> Therefore, your company’s regime is the prerequisite condition to retain talented employees If you are able to build an energetic workplace and a good working culture, excellent staff will come to you
Question 3: Write an essay (800- 1000 words) to reflect what you have learned from this subject (50%)
Throughout the course, I have gained many aspects and knowledge of management skills, and skills that can be used in daily life, especially in
business and economy as long as they involve interacting with other people
In this course, I have learned about how to be a better team member or even
a good manager and leader This semester, I was reminded of how important management skills are and how people need to keep emphasizing it as one of the most important skills any person could possess Each chapter is a great source of knowledge about how to run a business effectively I usually felt excited about what I would be taught in the next lesson because, personally, becoming a good leader is my dream job Besides, I think it gave all of us a good way to start seeing how everyone is different, how they approach and do their task in the workplace This made it easier for each of us to have a better understanding of another in how their unique personalities can be a challenge when working with others and figuring out the solutions for this challenge
Trang 4Another aspect that was covered in class was solving conflicts, that is very common in the working area and it is essential as well
First of all, I find that the lesson which impresses me most is the four main functions of management In the past, I did not know anything about
the working process It tooks me a lot of time to finish most of my work and duties I found it difficult to manage the time and kept track of the progress However, after learning those four functions, it becomes easier for me to
distribute the tasks for my teammates and use my time efficiently I already know that to have a good result, I should set up a specific goal first and
imagine what I will do to achieve that goal Then, I will note down the main tasks and assign them to suitable people I also know how to motivate myself
as well as my teammates and anticipate the risks that may come during the process As a result, the team members can tackle them much easier
Second of all, the Management course has taught me that, to become a
good manager, I need to consolidate 3 main skills, those are: technical
skills, human skills and conceptual skills And I know that for each level of
management, which one is the most vital For example, conceptual skills are very important for top managers because they allow them to think in a logical way and have a vision about the project they are working on Next, these skills are less important for mid-level managers and not obligatory for first-level managers I am an ambitious person so I always want to achieve the highest objectives After learning this lesson, I had a clearer orientation about what I should focus on to reach my dream and work more efficiently in other fields Third of all, apart from learning to be a manager, there is a chapter that makes me have a clearer definition of a good leader and know how to
differentiate between management and leadership For example, while
management tends to be more about administering and assigning tasks for people, ensuring the daily work that needs to be done as they should, get the tasks done through people and get people together, leadership, on the
contrary, focus more on motivating staff to comprehend and believe in the vision you set for the company and to work with you on achieving your goals And to
become a key leader in an organization, you need to own many features You need
to have a constant vision about the market as well as the whole company in the future to make sure that your business is in the right way and it can develop
sustainably Being an economics student, I am aware that this is really important for the survival of a company or corporation, that is one of the values which
Management course has brought me
Trang 5Finally, aside from those I have just mentioned, I also have many opportunities
to approach some realistic situations through the teacher's requirements In each lesson, when the teacher gave a question, I always tried to do a quick search and think in an economic way to answer it Gradually, my brain has got used to thinking and loading in English much faster than in the past Besides, this subject gave me a chance to improve my presentation skills and teamwork skills through some activities and group presentations Doing research and finding information on my own makes
me remember the knowledge longer and thoroughly understand the situations I am also taught about many other aspects in economics such as the working culture (how to create a vibrant atmosphere and worth-working environment), and some outside elements that affect the business Namely, we have researched about
PESTLE ( an acronym for a tool used to identify the macro (external) forces facing
an organization), 5 forces model,
In conclusion, Management course brings us many precious values, especially for those who want to be a manager or a leader in the future At first, I thought this subject was arduous because I have to learn in English and it seems to have many abstract theories I was a bit nervous back then But after the first lesson, I found my teacher is really generous and enthusiastic, along with brief PowerPoint slides so I can easily catch up with the lesson The following lessons did not scare me
anymore I gradually realized the importance of this subject It is the basis for our future jobs in particular and daily life in general After finishing this course, I gained a lot of knowledge about not only economics but also soft skills I remind myself that I need to focus more on my study as well as my major to get a higher score and reach success in the future