Subject: Theory & Practice Of Management

Project Report
Title: Porsche Company ltd,
Presented By: Areeba Naeem

Submitted to: Prof. Dr. Nisbat

Submission date: 28-06-2020

Department of Management Sciences

National University Of Modern Languages
Porsche Mission Statement
Our Mission Statement: We are committed to provide an impeccable
service to our demanding clientele of premium cars. Pay our customers
with the greatest possible attention and care in all aspects of the
business. To create a connection in the workplace, with shared passion
for our vision and goals.
Vision Statement
Our vehicles should always be something special. We also expect
extraordinary results when it comes to the profitability of the company.
To achieve this, today and in the future, we rely on employees and
managers who think just like Ferry Porsche did and who are always
willing to go that extra mile.
Tradition and innovation
Our culture is defined by tradition and innovation.
For us, this is not a contradiction at all, rather these are Porsche values
that complement each other and form a unity. The combination of
tradition, innovation and a range of fascinating products is also reflected
in our staff measures and the agreements we have with our employee
representation.
Performance and social responsibility
Porsche has focused on both performance and on social responsibility
for decades.
These values are not mutually exclusive - in our view, they are closely
linked. We live in a performance-oriented corporate culture and
emphasize strongly the fair treatment of fellow employees. For example,
this can be seen clearly in all projects and agreements
that Porsche undertakes in close coordination with the interests of its
workforce.
You work in an atmosphere of individual responsibility in close
cooperation with other departments and, most importantly, deal with
interesting subject matter and a fascinating range of tasks.
We are happy to say that our employees are proud to work for Porsche.
They are driven by their passion for our extraordinary products. This
motivates our employees to search constantly for improvements,
regularly reviewing and optimizing given structures.
Our employees sometimes think in unconventional ways, and this is
something Porsche supports, because we value independence and
individuality.
Strategy Planning of PORSCHE:
Shaping the future of the sportscar – this is the theme of Strategy 2025.
At the heart of the strategy is our future product portfolio. The sportscar
of the future will blend the history and values of the Porsche brand with
innovative technologies, while at the same time ensuring sustainability.
In achieving this, topics such as electromobility, digitalisation and
connectivity will play an important role. Embracing these topics will
allow us to shape the exclusive and sporty mobility of tomorrow.
Nevertheless, with all the innovations and modifications in front of us,
one thing remains constant: Anything that carries the Porsche crest will
also feature the excellent quality that is synonymous with  Porsche.
Objectives & Goals:
The company's main objective is to achieve value-generating growth.
Only by achieving such growth can we make sustainable investments in
innovative technologies, new products, and most importantly, in our
team here at Porsche.
With this approach we are already on our way towards rethinking sporty
mobility. We want to excite customers with our products and services.
We are also aiming to consolidate our reputation as an excellent
employer and business partner that fulfils its social and environmental
responsibilities. And the return needs to be sufficient too.
We have everything we need to achieve our objectives: vehicles that will
take your breath away and a team that is passionate about its work.
Product Development Process:
With our experience from the world of sports car series production, we
can support you at every stage of the entire product development
process: from the concept phase to series production. Whether you are
developing a component or a complete vehicle, we can cover everything
from sub-processes to complete developments – goal-focused work of
the highest quality. We do this for passenger vehicles as well as
commercial vehicles and developments for other industries.
Organization Management
Organization management gives a sense of security and oneness to the
employees.
An effective management is required for better coordination among
various departments.
Employees accomplish tasks within the stipulated time frame as a result
of effective organization management.
Features
Planning
Porsche prepare an effective business plan. It is essential to decide on
the future course of action to avoid confusions later on.
Plan out how you intend to do things.
Organizing
Organizing refers to the judicious use of resources to achieve the best
out of the employees.
Prepare a monthly budget for smooth cash flow.
Staffing
Poor organization management leads to unhappy employees who
eventually create problems for themselves as well as the organization.
Recruit the right talent for the organization.
Leading
The managers or superiors must set clear targets for the team members.
A leader must make sure his team members work in unison towards a
common objective. He is the one who decides what would be right in a
particular situation.
Control
The superiors must be aware of what is happening around them.
Hierarchies should be well defined for an effective management.
The reporting bosses must review the performance and progress of their
subordinates and guide them whenever required.
Time Management
An effective time management helps the employees to do the right thing
at the right time.
Managing time effectively always pays in the long run.
Motivation
Motivation goes a long way in binding the employees together.
Appreciating the employees for their good work or lucrative incentive
schemes go a long way in motivating the employees and make them
work for a longer span of time.
Development Opportunity:
Motivated employees and managers are the basis for a successful
company. So at Porsche Engineering, we place particular importance on
supporting and developing our employees. In addition to seminars and
training courses tailored to the individual's requirements, we also offer a
variety of development programs.
Management Style
We strongly believe: If you want to develop forward-looking solutions,
you need to be a step ahead of the present. So we do not wait for the
future. We shape it – actively and with innovative drive. We see
ourselves as the innovative engineering services provider for future-
oriented mobility that conducts all of its work in a manner that is
sustainable, environmentally friendly and efficient.
Our goal value creating growth. And sustainable to boot. Whether it is
the implementation of projects for our clients, challenging and
developing our employees in the sense of an attractive employer or the
conscientious pursuit of our strategic objectives. Only when all this
comes together does value in the truest sense of the word emerge as the
result.
Management by Objective
Tinkering, thinking laterally, thinking outside the box – in pursuit of the
optimal solution, our engineers do not content themselves with
conventional concepts. With motivation and dedication they break new
ground and question the conventional wisdom to achieve innovative
solutions that are a perfect fit with our customers' requirements. The
medium-size of the company provides optimal conditions for the
implementation of customer projects such as straightforward decision-
making structures, interdisciplinary exchange between departments and
efficient communication within the team. While we prize team spirit, our
employees are equally used to work independently with a great sense of
personal responsibility.
Leadership & Control:
Employees need someone to guide and correct them whenever they are
wrong. A good leader is one who helps the individuals in their
assignments and motivates them to deliver results every time.
Specialists and managers do not only have to be prepared to assume
responsibility, they also have to face it repeatedly every day. A strong
personality is an important requirement of a leadership position and is
characterized by several competencies. Therefore it includes a number
of professional seminars, talks and workshops throughout its duration.
This gives participants the opportunity to strengthen and develop their
personal, methodical and social competencies.
Organization Development:
The concept of Organization development enables the organization to
achieve the targets and meet the objectives at a much faster rate.
The employees as a result of organization development respond better to
changes in the work culture.
Organization development helps the employees to focus on their jobs
and contribute in their best possible way.
Management can handle the employees in a better way as a result of
organization development.
Communication at Workplace
Communication plays an important role in the success and failure of an
organization. The art of expressing one’s ideas and thoughts clearly is
called as effective communication. Individuals need to communicate
effectively at the workplace for better transparency and clarity. Not only
effective communication helps in correct transfer of information but also
in decision making.
Be very clear as to what you expect form your fellow workers. Mention
all the details and do cross check whether the other person has noted it
correctly or not. Do not expect the other person to understand everything
on his own. Don’t blame him afterwards.
Never play with words. Don’t try to confuse the other person. Pass on
the information in its desired form.
Work Culture:
An organization is formed to achieve certain goals and objectives by
bringing individuals together on a common platform and motivating
them to deliver their level best. It is essential for the employees to enjoy
at the workplace for them to develop a sense of loyalty towards it.
A healthy work culture leads to satisfied employees and an increased
productivity.
Employees must be cordial with each other. One must respect his fellow
worker. Backbiting is considered strictly unprofessional and must be
avoided for a healthy work culture. One gains nothing out of conflicts
and nasty politics at work.
Each employee should be treated as one. Partiality leads to demotivated
employees and eventually an unhealthy work culture. Employees should
be judged only by their work and nothing else. Personal relationships
should take a backseat at the workplace. Don’t favour anyone just
because he is your relative.
Appreciating the top performers is important. Praise the employees to
expect good work from them every time. Give them a pat on their back.
Let them feel indispensable for their organization. Don’t criticize the
ones who have not performed well, instead ask them to pull up their
socks for the next time. Give them one more opportunity rather than
firing them immediately.
Organization Ethics:
Every organization runs to earn profits but how it makes money is more
important. No organization should depend on unfair means to earn
money. One must understand that money is not the only important thing;
pride and honour are more important. An individual’s first priority can
be to make money but he should not stoop too low just to be able to do
that.
Employees should not indulge in destruction or manipulation of
information to get results. Data Tampering is considered strictly
unethical and unprofessional in the corporate world. Remember if one is
honest, things will always be in his favour.
Role of Employees
Employees are the backbone of every organization. They play a crucial
role in controlling and also reducing the threats to organization. The
major threat to an organization is a non serious employee who attends
office just for the sake of it. Individuals need to love their organization
for them to deliver their level best.
The first initiative towards reducing threat to organization is to
genuinely develop a feeling of respect for your organization. Do not love
your organization just because your Boss has asked you to do so. The
feeling needs to come from within. The moment you are loyal towards
your organization, your productivity would increase manifold eventually
benefitting the organization. Do not work just for your salary. After all
money is not everything. Your career and professional goals are more
important.
Hierarchy
The hierarchal structure practicing in ISH is Top-Bottom approach.
Final authority lays in General Manager or Director Operations that is
delegated to the lower level of management.

∗ General Manager
∗ Resident Manager / Executive Assistant Manager
∗ Divisional Head
∗ Head of the Department
∗ Asst. Head of the department
∗ Section Head
Departmentalization:
Porsche is divided into different divisions according to the operational
function. In this company, the division of the employees is on basis of
their work specialization and they are allocated into different
departments according to educational background, consequently it can
also help employees to develop a professional career.  the presence of
five core job dimensions ensures three psychological states. These
psychological states in turn influence desirable work outcomes like
quality of work, job satisfaction etc. Let’s look at them in detail.
Human Resources
1. Recruitment
2. Staff Management
3. Training & Development
Summary
This report is an intensive embodiment of our work which we are
submitting as an analysts at Porsche Company. We have analyzed and
observed the organizational structure, customer services, sales and
promotional activities, management and personnel administration of the
Porsche. The rationale of this report is to overview and evaluates the
performance of diverse departments at this organization, to critically
analyze the working, environment and values, to study as an outsider the
approaches they are using, and how it is contributing to the GDP growth
rate of their country moreover to provide recommendation for further
upgrading.