ASSIGNMENT : 02

NAME :ASAD AZIZ.

STUDENT ID: 18319.
COURSE: FUNDAMENTALS OF MANAGEMENT .
INSTRUCTOR : MASOOD MIR.
QUESTION NO 1 :

ANSWER:
We have made a smart phone company .The organization goals of our company are to increase
efficiency , make new innovations in the market , building the trust of our customers ,
generating more revenue , building a strong brand image worldwide and having competitive edge
over rivals.

The first step in the planning process is to first state and define objectives of the organization so
that the goals and objectives of the company are known by every employee of the company.

The second step is that we should identify different ways to achieve our objectives we can achieve
our organizations goals by developing new products and innovating and developing new
technology and having competitive edge over the rival companies we can also make our phones
cheaper than other phones on the market and also increase distribution network of our phones .

We can also make our products on different premises with alternate approaches so that we can
find out the best alternative for our company. After which we can choose that best alternative for
our company so that we can achieve our objectives faster . for example we can use innovation and
improve our technology to achieve our objectives faster . plans can also be developed on how we
can increase our technological advantage and get competitive edge over the rival companies for
that we will need to identify the gaps in the market either we can improve existing technology or
we can introduce anything new into the market . we must then implement our plans and start
taking actions.

QUESTION NO 2:

ANSWER:

REWARDS AND CHALLENGES OF BEING A MANAGER:

Being a manager is a dream for many people . The managerial position definitely has its benefits
but it also comes with some drawbacks . There are many advantages of being a manager such as a
manager receives more salary than other employees. A manager also has more control of his work
and also how he completes his tasks and goals . He also has more authority as compared to
the rest of the employees and has freedom to think creatively and to get tasks done according to
their own will . they also have the authority to make changes to the team and have the ability to
fire or hire employees which they think will be better for achieving the organizational goals. But
with great power also comes great responsibility managers are held accountable if the
organizational goals are not achieved or left behind by the top leadership of the organization they
also have to work twice as hard because they have heavy workload . managers have to
continuously stay in touch with the employees and the top level management and eliminate the
communication gap between them so that the leadership and the employees are on the same page
when it comes to what organizational goals need to be achieved and in what steps should be taken
in order to achieve them . the leadership also has high expectations from the manager but to
actually achieve those goals he needs to get work done by the employees which in most cases is
not that easy.

QUESTION NO 3:

ANSWER:

INTERNAL FACTOR EVALUATION OF TOYOTA:

Evaluation of the internal weaknesses as well as strengths of a company is called the “ Internal
factor evaluation” (IFE) . Toyota company also has its strengths and weaknesses some of the
internal strength factors of Toyota are that it has become a global brand and has managed to
establish its strong image in front of the world. It is also one of the most widely found car
company in the world and in almost every part of the world it is well known and its supply
chain is well spread throughout the world because it has over 170 distributors and 8900 dealers.
Toyota motors also has the ability to easily adapt to changes in different scenarios and also can
rapidly innovate their products . they also have great man power and Toyota motors has around
300,000 employees . they also have advanced technology and with the help of their R&D teams
the improve their technology which helps them manufacture car’s faster and also have an
competitive advantage over their rivals. There are also some weaknesses factors of Toyota such
as its rigid managerial hierarchy which kills creativity and also decreases possibilities of new
innovation . the quality control policies of Toyota are also extremely strict which causes the
employees to often go on strikes as they are unable to cope with the strict quality control policies
of the company. The company also faces loss of time and money due to recalling of vehicles due
to some manufacturing faults , these recalls are a waste of time and money because the money
which is wasted in these recalls can be used in the manufacturing of vehicles and distribution .
Toyota is also a lot behind in technology after the arrival of Tesla and other electric vehicles in
the market . Toyota also needs to expand its sales in the middle east and in Africa .

QUESTION NO 4:

ANSWER:
All of us go through decision making processes to make even the simplest of decisions in our
daily lives . for example here we are planning a birthday party for a 3 year old . we need to
identify problems in planning the birthday in case we plan the party on a weekday most of our
guests would not be able to come due to their jobs or children will not be able to come because
they have school the next day so in order to overcome this issue we must change the day of the
party to be a day on the weekend so that all of the guests can come over to the party so on a
weekend we will have the option of having the party on either Saturday night or the Friday night
. some offices and schools also have their Saturdays on so some people might still face some
issues so the best alternate we have is Saturday night . having the party on Saturday night is the
best option for the guests.