Management: In our regular life management is a very important thing. We need management every step in our life. Proper management of a thing helps us to achieve the objectives. Human beings want lots of things in their life but they have all the resources available. Management helps us to use these resources effectively and efficiently. In organizations management is the key thing to achieve their organizational goals. Without management they can’t achieve their goals. So we can say that management is the key or primary thing of an organization.
British American Tobacco, Bangladesh is a multinational company who do their business in many countries. It’s a very reputed and well known country in the world. For being successful they use good and proper management for their company. Management has 8 managerial factors that most of the companies follow. These factors are very important for all the company being successful. If these factors are followed well and used properly in the company, the company has high chances to do well in the industry. There are 8 managerial factors. They are-
- Planning
- Decision Making
- Organizing
- Stuffing
- Communicating
- Motivating
- Leading
- Controlling
We will discuss bellow about these 8 managerial factor of British American Tobacco, Bangladesh:-
Planning: Planning is the first and the main factor of managerial factors. Planning means defining the organization’s goals, establishing strategies for achieving those goals, and developing plans to integrate and coordinate work activities. Planning helps us to provide proper direction. Planning helps us to understand why the company stands for. If the goals of the organization is clear, it is easier to achieve that organizational goals. If the organization works through the plan they can reduce the uncertainty and reduce the wastes of the resources. They can use their resources effectively and efficiently. Planning also sets the standards of controlling. So that the organization can compare their work with their planning after completing the work.
The main goals of British American Tobacco Bangladesh are:
1) Capex requirement
2) Capital Expenditure (factory capacity enhancement, Warehouse, Machine requirement and optimization, Land)
3) Revenue Expenditure.
As a multinational company, BATB has their own strategy for organizational management. Strategic plans are initiative, budgeting. All the departmental head come together and make a report and one manager takes the bullet points. Departmental head takes some decision from abroad. Most of the plans are decentralized. This is how they take strategic plans. They also take operational plans. BATB takes their operational plan through different meeting. One of the important meetings is LOS.LOS stands for Line of Sight. This meeting is held in the beginning of every year. This meeting is a training program and BATB discuss with its employees about the agenda of various operational work of the running year. During the meeting they mainly decide the plan for operational plan.
Decision Making: Decision making is also a very important factor of 8 managerial factors. Mainly decision making is needed in every step of the company. But in 8 managerial factors decision making puts in planning. When the organization planning for the organization there are many options came out. Decision making is the process where the managers decide what should be the best for the organization. Decision making means making a choice from two or more alternatives. There are 8 steps of decision making process. They are:
- Identifying a problem
- Identifying decision criteria
- Allocating weights to the criteria
- Developing Alternatives
- Analyzing the alternatives
- Selecting an alternative
- Implementing the alternative
- Evaluating Decision Effectiveness
British American Tobacco Bangladesh is a decentralized organization. The main organization decisions are decided by the Head of the organization and other decisions are made by the department heads and managers.
Organizing: Organizing means arranging and structuring work to accomplish an organization’s goals. For an organization lots of people needed to accomplish the organizational goals. Where how many people are needed for reaching the organizational goals that depends on organizing.
British American tobacco Bangladesh has a good organizing method. They structure their organization well. That’s why they are very successful. Their organizational structure is given bellow: