Principles of Management for Non Business-Free-Samples for Students

Question: Discuss about the Principles of Management for Non Business. Answer: Introduction to MayBank Maybank is one of the largest bank of Malaysia by total capital assets as well as capitalization. It is ranked 95th in the list of top 1000 world bank among the bankers in 2015. Moreover, it is ranked 362 among Forbes Global 2000 Leading Companies. It can be said that Maybank is one of the largest public sector bank that is listed on Bursa Malaysia and the Malaysian stock market. The bank has an international network of 2400 branches and it has more than 20 offices in more than 20 countries. The main aim of the company is to humanize the financial services by having a proper pricing and other fair policies, advising the customers on the basis of their needs and experiences, providing people with better access to financial services and helping the people of the community. The vision of the company is to help in the advancement of the Asian countries. The new logo of the bank represented the refreshed corporate identity of the bank and thus it indicates that people must be considered c lose to their heart. It also indicated that a noble and majestic rendition of the tiger will help to demonstrate the leadership and strength of the bank in the entire region. The bank operates corporate banking as well as business banking and it has more than 2500 automated teller machines in different countries (Maybank, 2018). In 1990, Maybank has taken advantage of the new Malaysian offshore banking Act that has been passed in that particular year and this will help to set the new operation processes. The company has also tried to set up a series of new subsidiaries and this included Maybank International Ltd. that offers personalized as well as confidential banking services in different countries. The bank has also tried to develop its insurance market and thus launched the Maybank General Assurance Bhd. In the later half of 1990s, it began to give better effort for increasing its presence in other Southeast Asian regions. It has set up its subsidiaries in different countries and thus opened new branches in different locations. Maybank has captured a small market during that that period and there are three branch offices in different states. It has also entered Philippines in 1997 after the government of Philippines has passed the legislation act allowing the foreign banks to capture or gain majority pow er in the organization. There were mergers with different banks and thus this has allowed Maybank to maintain its position with the other top banking group. It can be said that Maybank is considered to be the first bank that has entered the Chinese mainland and thus open up their branch respectively in Shanghai. In the later half of 2000, it has laid out a strategy to establish the bank to be one of the leading player in the ASEAN market (Maybank, 2018). This has also allowed the bank to enter into other markets and thus break the regional economic barrier of these country. Moreover, Maybank is also trying to enter into other areas of financial services with the setup of Mayban Takaful Bhd. This paper will highlight the organizational structure of Maybank and it will also discuss the organization, planning, leading and controlling that will help in the contribution and development of Maybank. Further, recommendations are also provided on how the management will try to improve the growth of the company. Explanation of the organizational structure Fig-Organization structure of Maybank Source-www.maybank.com The corporate structure of the bank is divided into commercial banking, insurance, investment banking, asset management and other management services. In the commercial banking section, the Islamic bank was successful in the entire management. MaybankInternational Limited and MCB Limited was successful in these areas. They were managed by the board of directors and the CEO at different levels of organizational hierarchy. The insurance sector and the investment banking sector were also managed by the CEO of the company and each branch had different officers and chief officers who were associated with the charge of taking care of different departments. The head of the group for financial services is responsible for the growth, strategy as well as the performance of the CPS which covers business banking, SME segments, consumers as well as the value of shared sales of the organization. The head of the global banking service is also responsible for the growth and performance of the global banking system (Mahdzan, Mohd-Any Hamzah,2017). The chief strategy officer is also responsible for execution and management of the finance across the bank. Under the corporate secretary as well as the legal, compliance and Director General, there are several sub divisions such as strategic planning, internal auditor, corporate communication as well as community distribution. On the other hand, there are several sub divisions under the director and the risk management division such as the operational risk and business continuity, credit review management, retail credit policies as well as portfolio and traded as well as non-traded risk. On the other hand, under the global banking and the director associated under this bank, transaction banking, local multinationals as well as corporate and multinational banking. Moreover, the financial supply chain management and the international strategic business, special assessment and business banking quality are included under business bankin g (Jie, et al., 2016). Explanation on how planning, organizing, leading as well as controlling (PLOC) contributes to the success/ failure of Maybank. The primary challenge faced by the manager of every organization is to solve the problems in a creative way. It can be said that PLOC model will be beneficial in classifying the different activities carried out by the manager and it is considered as an useful way to achieve the organizational goals. Planning is considered the main function of the management and it involves setting out proper objectives and determining the ultimate course of action for their achievement of these objectives. The managers must be aware of the different environmental conditions that are faced by the organization and it will help in forecasting the future conditions. Therefore, it is important for the managers to be better decision makers. The process of planning involves several steps and this process starts with environmental scanning. The planners must be aware of the different types of critical contingencies that are faced by MayBank in terms of different economic conditions, customers as well as the competitors (Kadri, 2016). It is also vital for the planners to depict the future of the organization. The planners must be able to establish the objectives and therefore proper statements must be delivered to the customers. It is also vital to identify the course of action for achieving the different objectives. The planners must try to evaluate the best course of action for achieving the different objectives. It is important to formulate the different steps and to ensure that these steps are effectively implemented in a better way. There are different types of planning process such as strategic planning, tactical planning and operational planning (Hong, Cheong Rizal,2016). Strategic planning involves analyzing the different opportunities as well as strength and weakness of the organization. It will help in the determination of how the positions in the organization can be compared effectively in the environment. In tactical planning, planning takes place for one to three years and it is designed to develop the concepts in a better way and to implement the plan accordingly. It can be said that the middle level managers of Maybank are involved in these tactical process of planning. The operational planning process will assume the existence of Maybank or the organizational goals and objectives so that is becomes easier to achieve them. The process of operational planning is considered to be short ranged and it is designed in such away so that specific steps and actions are to be taken to design them in a proper way (De Jesus Torres,2017). It can be said that organizing is also an important function of management and it helps in the development organizational structure and allocation of human resources to ensure the fulfillment of objectives. The structure of Maybank can be considered as the framework within which various efforts will be co-ordinated in a better way. These structure is represented with the help of an organizational chart and thus it provides a graphic representation of the various commands within the organization (Mohamad, 2015). Moreover, it can be said that different decisions about the structure of the organization are generally referred to as organizational design. It can also be said that organizing involves the process of designing the job roles of the individuals and thus this will help to cluster in a much better way compared to other departments. There are different layers in the organizational hierarchy of Maybank and they use different methods of departmentalization. Different job designs ar e based on the principles of division of labour and it is assumed that the more narrower the job content, the more proficient will be the individuals in performing their job (Krishanan, KhinTeng, 2015). In the process of leading, the various formal as well as informal structures will help in the inspiration of the actions that are taken by others. The managers are considered to be the effective leaders and thus their sub-ordinates will be enthusiastic about the efforts to attain the different objectives and goals of the organization. There are certain behavioural science that helps to predict that it is important to understand the different functions of the managerial process. The various studies associated with job as well as the research process based on personality indicates the effectiveness of the managers and how they will lead the sub-ordinates. It is important to understand how effective the managers as well as the other sub-ordinates will be effective in handling the responsibilities. This will be effective if the managers understands the personalities of the individuals, values, emotions and their attitudes. The different theories of motivation will help the workers to put forward the different productive efforts in the organization (MohdThasThaker et al., 2016). The different process of controlling will also ensure that performance will not deviate from the different standards in the organization. There are certain steps where it is important to compare the actual performance against the different standards in the organization. Moreover, measuring the performance standards as well as taking better and corrective actions are important in the organization. The function associated with the role of the managers is associated with the work related activities in the organization. It is important for effective control as well as the for the existence of different plans in the organization and therefore proper planning is necessary to incorporate the changes in the organization. Generally there are two traditional methods of cost control in the organization and these are associated with the budget as well as performance audits in different organization. Similar is the situation in case of Maybank. It is important for a proper budget audit and thus t his will be beneficial in the provision of information in respect to the needs of the organization. On the other hand, the performance audit will also help the managers of the Maybank to determine the actual figures which are considered as a part of reflection in the organization. It can be said that these budget control methods are considered in terms of different financial criterias as well as it is the responsibility and duty of the managers to control the operational as well as production process associated with these changes. It can be said that the different functions of management associated with leading, planning, controlling are considered as the most important role of managers. There has been tremendous changes in the environment that are faced by the managers to perform well in the organization (Ariff, 2017). Problems faced by Maybank Maybankhas also faced several challenges in managing human capital and thus it has become important to prepare their employees to fulfill the key roles of the organization and to carry out their job in a responsible way. The bank is trying to build a pipeline pool and this will range from the entry level staff to the higher level managers who are involved in the organization. The employees must also be ready with a higher level of capability in different branches of the bank. The employees must be ready with different levels of capability processes that are crucial in different regions. It is also vital for the multiple support programmes to help the employees to ensure the customer as well as the operational process in the organization.Maybank has also faced problem in digital journey as thus it has become difficult to integrate seamlessly in the new technological system and thus impact the bottom line process in the organization (Siew, Fai Hoe, 2017). The employees are not satisfied with the wages and the performance bonus payed by Maybank. The employees who has been working for a long period of time feel that they are unimportant and therefore go on indefinite strike. This forces them to demand for higher wages and salaries and thus there chaos between the employees and the banking organization. Thus, this issue plays an important role and it needs to get resolved within a proper span of time. Moreover, the formation of multiple union has also led to chaos among the internal functioning of the bank. This is due to the inefficiency of the employees to work smoothly within the organization. The relationship between the employee-employer would be affected to a huge extent because of this problem (Tan, Hamid Chew,2016). Recommendation on how the management of Maybank can improve the growth of the company The management must try to focus on building the capability level that is to be considered from the perspective of talent management as well as the core banking principles in the organization. Various progarmmes associated with improvement of culture as well as raising the effectiveness of the employees are also crucial in the development of the organization. It is vital for the enhancement of different components that are received by the staff and thus it helps in the execution process in the organization. The implementation of the pay level policies and the launch of different employee share scheme are considered to be the long term component in the pay mix of the reward policy in the organization. Although these processes are considered to be much extensive, it is important for the managers to help in improvement of the productivity processes as well as managing the capability in the organization. The customers must also be given access to Maybank online banking services and they must also offer better services. It is vital to train the employees on different questions associated with online banking and thus help them to get a clearer idea of the banking norms and facilities. The bank must also try to create different advertisement processes in this case and thus keep the customers attracted. Maybank is also trying to create a people focused approach in the technological deployment and thus this does not help in merely satisfying the customers. There are some important factors that helps in the process of deployment as well as between end-to-end integration in the different processes in the organization. In terms of process designing, it can be said that it is vital to collaborate and employ the right people with the right set of skills in the organization. Maybank has established the central pillar behind the process of digital innovation and it considers the different types of technological processes that needs to be deployed in these case. Maybank is conscious about the different technological processes and it considers these process as obsolete and thus it needs further changes in the organization. The bank must also try to integrate the different processes of integration that will help to support the different technologic al processes as well as ensure that it is in accordance with the different organizational goals. There must also be seamless integration in the process and establish the different process of growth in the organization (Yunus, KamaruddinEmbong, 2017). Conclusion Therefore, it can be said that the process of online banking in Maybank is considered to be one of the easiest way in the banking operational process as well as it saves the time as well as the effort of the people who are involved in working with the organization. This also layed an impact on the banking structure and thus it affected the business of the companies as well as facilitated the transaction process of the organization. The transformation of the IT processes has helped in aggressive as well as progressive changes of Maybank. Moreover, the data mining process also needs to be considered and addressed accordingly. There must be high level of appreciation process and this is considered to be a growing portion in the workforce level in terms of sales as well as services in the organization. References Ariff, M. 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