Managerial Decision Making Essay Example | Topics and Well Written Essays - 250 words

Managerial Decision Making - Essay Example Retribution: The first R is by far the most detrimental; the managerial application of retribution is little more than threatening. Managers in some situations resort to direct threats of punishment to create coercion. They may also utilize indirect threat’s to create an implied rather than stated punishment or coercion; this is a common form of intimidation. The major pros to utilizing retribution are the immediate effect and delivery of the manager’s task as specified. On the Con side retribution almost always creates resistance, resentment, & alienation. It also within the organization stifles innovation. Effective managers should very rarely resort to retribution as a tool; it should be reserved for crisis situations where direct action is required. Reciprocity: By definition reciprocity is nothing more than compliance by satisfying the needs of both parties. Reciprocity allows the manager to get results without creating resentment. The major pros revolve around mutual benefit. This enables the manager to achieve objectives without having to bargain or justify the objective with the employee. The Cons are the very basic prerequisite of trust and the inevitable negotiation process with the employee. From the stand point of the organization reciprocity undercuts group commitment. From the management standpoint it takes time to initialize and cannot be used effectively in a crisis situation. Reason: Reason creates a rational articulation of the management concept; subordinates recognize the value of the plan and are more supportive and positive about the manager’s task. The pros are seen as a higher group compliance and greater commitment to team principle. While reason is the most positive management tool it takes the longest period to initialize and requires the cohesion of a unified group trust and belief in the individual manager. Superiors usually rate managers that utilize reason as highly effective. Unfortunately,

International Management Group and Competitors of IMG Research Paper

International Management Group and Competitors of IMG - Research Paper Example Along with the global giant's several local industries to contribute to the growth of the sports industry worldwide. A few sports goods manufacturers of the world are like Puma, Slazenger, Stiga, Dunlop, and Yonex. The estimated size of the entire sports industry in 2010 is expected at $414 billion (Plunkett Research Ltd., â€Å"Sports Industry Overview†). The competitors of IMG are Interpublic, Clear Channel Entertainment (formerly known as SFX), William Morris Agency, Creative Artist Agency, Magnum Sports and Entertainment, Nike, WPP group, Dentsu, TBA Entertainment, Ford models and Pro Form Golf. The overall areas on which the competitor companies are mainly engaged are like athletes, models, authors, speakers, artists, actors, events, television production, consulting/ licensing, film production, money management, advertising, and academies. Clear channel and Interpublic focuses on a number of areas except for television production, money management, and academies. William Morris Agency focuses only in the areas like authors, speakers, artists, actors, and athletes. Magnum Sports focus on athletes, models, and events. Nike’s focus is only on athletes and events. WPP and Dentsu focus only on academics and licensing/consulting. TBA focuses on speakers, actors, events, television products and advertising. Ford concentrates on the athletes only. One of the competitors ProForm Golf is involved only in the area of academics. The vision of the firm, the association of a number of renowned athletes, and the goodwill of the founder may be said to be a few of the competitive advantages of the firm. In 2000, the market value of American sports was approximately $200 billion, which made it country’s 11th largest industry. IMG in turn was credited with having invented the field of sports management almost 40 years earlier. At present IMG represents a number of the most talented and exciting athletes, including golf star Tiger Woods and tennis players  like Venus and Serena Williams. Mark Hume McCormack was declared as the most powerful man in golf by Golf Magazine, Sports Illustrated labeled him as the most powerful man in sports and Tennis magazine figured him as the most powerful man in tennis.