Management Project Essay Example | Topics and Well Written Essays - 1500 words

Management Project - Essay Example The paper includes an in-dept analysis of the four important aspects of management (planning, organizing controlling and leading) in the context of PNR. It also provides a brief description regarding the products and operations of the company. The company overview PNR Private Ltd has been involved in the business of tyres that are mainly used in two wheelers. It produces tyres for two wheelers especially for the motor cycles. It is been almost seven years that the company is manufacturing and selling tyres. Its main customers include some of the local as well as global two wheeler manufacturers. Furthermore, there is a strong network of dealers that sell the products to the individual customers. In the last year PNR’s annual revenue reached almost $100M. However the company’s performance was badly hit by the recent global financial crisis that rocked most of the developed economies in the world especially the US and UK economy. As the demand of cars and bikes was signif icantly lowered due to this global crisis, tyre industry was also remarkably affected. Being a part of this industry PNR also experienced a tough time when its annual revenue was gone down by almost 10% in the year 2008-2009. However, with recovery of global economy PNR has also improved its performance. At present the company employs almost 100 individuals. The management of PNR gives significant importance on the quality and innovation of the product. The company’s main objective is to take the customer satisfaction level to a new high that will help the company to meet its annual target of revenue easily on a regular basis. Over the years ‘Innovation’ has been the key to PNR’s success. The company has plans to invest significant amount of resources in the research and development section. A new production plant with state-of-the art technology and advanced research and development facilities is likely to come up in near future. The company’s visi on is to become the market leader in two wheeler tyre industry by means of high degree of innovation and customer satisfaction. In PNR it is believed that management is a concept that is neither solely science nor solely arts, but it is a blend of both. In the present business world which is intensely competitive, organizations fail to succeed if they do not focus on innovation, research and development. Today, most of the managerial decisions are taken after conducting extensive marketing as well as financial research. If management is looked at from this perspective then it can be considered as more of science rather than arts. However, on the other hand management is also about art of convincing and communicating with the staffs. According to Basu, â€Å"management is getting things done through and with others† (Basu, Business Organisation And Management). This statement reflects that art is an important component of management. The management of PNR admits these facts an d believes that management is the combination of both science and art. The next section provides a clear picture of the four important aspects of management i.e. planning, leading, organizing and controlling in the context of PNR. Planning SWOT Analysis SWOT (Strengths, Weaknesses, Threats and Opportunities) Analysis is a strategic tool that is widely used across all the industry. PNR’s main strength is its strong customer base. Despite