Management Issues In Vrik Communication: A Literature Review

Importance of Management Functions

Discuss about the Impact Of Human Capital On Success Of Necessity.

The role of management is huge in accomplishing the task or attaining the goal of the organization. Managers of the company should be active and skilful as they have responsibility to guide other employees. This research paper will elaborate the management issues for making better understanding about the concept of the research. The literature review section of this research paper will define the management concerns by taking various examples of the company with the help of journal article, online resources and books. Research design is vital component as it helps to explain that which factor has huge role in making the research. Ethical issues and time framework will be elaborated in this research paper.

The overconfidence of the manager towards the specific condition can lead the organization into failure way as it is vital for them to take action after considering the various factors of the situation. The education level has significant role in decision making process of the organization as educated and experienced manager is better to understand those aspects that have hidden affects on the organization. The project is based in Vrik Communications limited company that deals with supply of Vodafone products. The project of this company has failed due to adopt incorrect strategies of management and lack of knowledge.

The management problem in the context of Vrik Communication is overconfidence and lack of adequate human capital skills that lead to business failure. Manager of the company is ignoring to make the daily report of its financial activities that may lead business into adverse situation. Failure to execute any function can lead to businesses failure.

The main aim of this literature review is to define the existing knowledge regarding the ongoing management concerns within an organization. The review is conducted on showing the importance of functions of management that leads the growth of the organization. Overconfidence can be the major cause of failure of the business as it ignores the sustainability of the business.

The management has specific function such as planning, organizing, controlling, coordinating and leading. The lack of one of them function can lead the organization into adverse situation thus it is required for the company to observe the skills of the manager at the time of appointing. Vrik Communication is facing management issues because of ineffective approach of the manager. It has been analysed by Fayolle and Gailly, (2015), that managers are person who are required to attain their goals by other people at the workplace. Today’s environment has become more competitive and that is why it is required for them to show their good interpersonal skills. There are various environmental challenges that are faced by them at every stage of the company. The role of management function in such challenges is huge as they entertain all issues with more efficient manner.

Impact of Education Level on Decision Making

It has been found that there are number of arguments to sustain the survival of a relation with a harmful sign between informal entrepreneurship and education. The higher level of education of an individual is more aware of the likely sanctions and fines that might result from bringing out informal professional activities. According to Helfat and Peteraf, (2015), they are become more aware about the morality and the negative influences on their social status. A manager of the company has a lot of responsibility which can be fulfilled if manager has certain knowledge about the issues and concepts. It has been stated by Rauch and Hulsink, (2015), that education mattes a lot within the organization and that is why it is required for the company to evaluate the education of the manager at the time of appointing which can be judged with the help of written or verbal tests (Bridge and Dodds, 2018).

According to Harper, (2015) there are various factors that affect the organizational performance in positive manner. Baptista, Karaöz and Mendonça, (2014), suggests that multi-tasking, decision making skills, leadership, motivation, business development skills and effective communication are basic skills that should be in manager as it facilitates to cope up any conflict situation. Team work can enhance the productivity and attain the objectives of the company within time frame and it could be possible in the organization of Vrik Communication with the help of these skills. It has been discussed that the company has attained good response of its expansion in its starting two years and after that company is facing various issues. According to Valerio, Parton and Robb, (2014), lack of proper knowledge about the work process may lead the company in adverse situation on the on the hand by getting instant gradual sales increase in start-ups promotes overconfidence of managers (Van Knippenberg, Dahlander, Haas and George, 2015).

Over confidence of the manager can damage the position and goodwill of the company that is why it is required for the top authority of the company to analyze the situation of the company time to time and evaluate with those factors that bring it on higher position. On the basis of overconfidence bias, manager of the company can overvalue their expertise in order to evaluate their area of investment which may hold undiversified and risky portfolios (Cloutier, Felusiak, Hill and Pemberton-Jones, 2015). This kind of manager does not want to get others opinion in their work process along with that they do not want to observe the market monopoly. Vrik Communication’s managers are unable to make effective accounts calculation as well as books and only keep their concentration on monthly turnover. According to Pucciarelli and Kaplan, (2016), it is vital for the organization to keep focus on the availability of resources and their contribution in the aim of the organization instead of observing the monthly turnover. It can be improved if organization analysis day to day activities of the employee and provide training and development program not only to the employees but also to the employer or leaders.

Consequences of Overconfidence

It has been found that various factors such as lack of basic skills and overconfidence can impact the entire structure of the company. It is crucial for the company to observe those areas through need assessment which require training program. Training program should be conducted with efficient manner with including how to behave or work within the organization (Cloutier, Felusiak, Hill and Pemberton-Jones, 2015).

Two stage of the research design is crucial after the completion of the literature review. It is because of the creation of new research objective and the target market must be précised. It is the part of the research that facilitates to know from where data is collected.

There are various kinds of research design that considerably facilitates to decide the design of the research project. Exploratory and descriptive are two major research design that increase the importance of the research. Exploratory research design is designed to develop ideas in case of ill defined hypothesis. It is applied in the research project to diagnosis the issues and screen the alternatives. The new ideas can be generated in significant manner with the help of this research. The strength of the exploratory research design is to generate insights and resolve the concerns regarding the research project (Collatto, Dresch, Lacerda and Bentz, 2017). On the other hand descriptive research design is designed to present a summary of some factors of the environment when the hypotheses are cautious and tentative in nature. It is unable to make the link between the factors. The strength of the descriptive design within the research is accurate description.

Both exploratory and descriptive research designs are opted for this research study because with the help of exploratory research design, researcher would be enabled to gather the information regarding the management issues within the organization. On the other hand, descriptive research design helps researchers to understand the characteristics of an individual and group. Along with that it facilitates to collect the different perceptions of the participants, in order to meet the objective of this research paper (Hyman and Sierra, 2010).

Data can be gathered from two resources such as primary data and secondary data. Primary data is collected for the research at very first time which has the feature of fresh data. On the other hand, secondary source of data has been previously gathered for some other project. The researcher has chosen both methods to gather the data regarding the chosen topic. The use of primary data collection sources is efficient to get data by making direct interaction with people for knowing their perceptions and views regarding management issues within the organization. On the other hand the usage of secondary data is effective to develop the depth and theoretical understanding about the research concerns (Gratton and Jones, 2010). The researcher facilitated to accumulate data from various resources such as articles, books, websites and journals to develop the trustworthiness of research outcomes. In the context of primary data, survey is the effective approach that facilitate researcher to get quick response from participants to know their response regarding the issues.

Research Design

There are various approaches to conduct the research which can be classified in to qualitative approach and quantitative approach (Klenke, 2015). This research is involved both approach of research in which quantitative as well as qualitative approach which would be helpful to draw the effective conclusion from the evaluation of the subjective and quantitative data (Flick,2013). There are various kinds of variables but the most important is independent and dependent variables. The independent variable is considered as the core of the experiment. It is isolated which can be manipulated by the researcher. On the other hand dependent variable is the computable outcome. In the context of research topic, dependent variable is organisational performance because it can be changed (Gray, 2013). It is dependent on the management issues because when the issue of management is resolved the performance of the organization can be improved significantly. In the regards of qualitative research, the research questions will be addressed in an adequate manner. The research questions of this research topic are defined below.

In what ways does a manager’s overconfidence and lack of adequate human capital skills lead to business failure?

What is the role of management functions within the organization to increase the productivity of the company?

Both methods of the research are helpful to attain the objectives of the research in which the research question can be addressed in significant manner by gathering the data. The data will be defined from quantitative approach in graphs with brief summary so that the information about the graph can be understood by the researcher (Marshall and Rossman, 2014).

Data collection is referred as the collection of the data in more systematic manner from the various sources to meet the objectives of the research. The effective collection of the data assists researchers to enhance the knowledge about the research concerns, which is also attractive to make conclusions regarding to the research issue. Primary and secondary are two methods which facilitate to gather the data in an appropriate manner (McNabb, 2015). Data is collected with the help of both method in which survey is being conducted in the context of primary data. Survey is effective approach that helps researcher to collect data regarding the concerns of management from large population (Wan, Mao, Hsieh and Chen, 2017). Random sampling method is opted to gather the data from the survey as it provides the equal opportunity to every individual of being chosen.

Data Collection Methods

Survey was chosen for this research to gather the data because it is useful in defining the features of a wide population. The capability of this survey method is wide in comparison of other research method which makes sure a definite sample to collect targeted outcomes in which to draw conclusions.  It is unbiased approach to decision making that facilitated researcher to find out the response of number of people on management concerns which being the cause of today’s management world (Sherafati, Mohammadi and Ismail, 2015).

After gathering the data and information, it is vital for the researcher to analyze them for developing the valid and reliable results regarding to the research issues. There are various data analysis methods which can be used to develop reliable and valid results to the research concerns such as statistical analysis, conversational analysis, content or thematic analysis and disclosure analysis (Nestor and Schutt, 2014). These data analysis methods are well-efficient in order to make effective and significant analysis of pooled data. Statistical data analysis method is utilized to analyze the collected data. By taking this data analysis method, researcher is enabled to show the descriptive statistics of the data involving correlation, cross tabulation and regress which is helpful to interpret the meaning behind the reactions towards the question of the participants. MS-Excel and SPSS software are taken in use to show the data in tables and graphs to increase effective understanding about the findings and responses about the management issues within the organization. 

The meaning of the ethical issues is regarding to the accomplishing of each task of research in ethical way by following the privacy of the participants. Ethical consideration facilitates researcher to follow adopt effective behaviour, in term to accomplish the research in a systematic manner. Ethical issues in this research are diminished by the researcher by giving entire credit to the researchers as well as authors in regards of giving references and in-texting in each paragraph. The researcher has taken appointment on prior basis from the opted participants for gathering the primary data related to the issues of the research (DesJardins and McCall, 2014). It is the effective approach from which the researcher is enabled to gather the data as well as information from the participants in depth manner. It also assisted the researcher to handle the reliability of the data in effective manner.

The limitation of the research is those factors that are not under control of the researcher. Lack of time availability, small size of sample and inadequate access of data and sources are major limitations of this research. The responses of the respondents are not genuine because of the pressure of the upper management.

Qualitative Approach

Reference List

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Bridge, J. and Dodds, J.C., 2018. Managerial decision making. Routledge.

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