MANAGEMENT
ADITHYA THANKACHAN

1) Talent Management
Talent management (TM) is referred as a young and developing field and it is claimed to be require more contribution from the different industry and country perspectives. TM is considered an essential factor contributing the accomplishment of these goals and the successful implementation of corporate strategy. (Yildiz, R. Ö. et al, 2021). Talent management helps employees feel engaged, skilled, and motivated, allowing them to work in the direction of the company’s business goals.

2) Career Development
(Baldigara, T.et al, 2021) emphasizes that Career development is essential for implementation of career plan. While career plan sets career path for an employee, career development ensures that the employee is well developed before he moves up the next higher ladder in the hierarchy. Exploring Career options before committing to a Career increases future Career success and satisfaction. It can be concluded that the majority of students have a negative perception towards the industry what is of great concern considering that this can be of great affection for the quality of service.

3) Training and Development:
The intangible assets of companies, including the Training and skills of workers, knowledge and technological integration, and knowledge about the functioning of the market and business management in a global economy , increase productivity and the efficient management of resources. Business Training is essential to maintaining the competitiveness of companies and human capital is a great asset that, through business Training, increases the productive capacity of the organization (Ferreiro-Seoane, et al. 2021)

4) Resource Management:
Industry lacks a method of measurement in order to deal with the Management of their Resource. This emphasizes to launch a sustainable total Resource Management (STRM) to manage the Resource allocation and improve sustainability and design in the firms’ value-add chain to enhance productivity and the effectiveness of Resource utilization. Efficient Resource consumption is a challenge that obligates firms to rectify their Management process (Ming-Lang, T. et al. 2020).

5) Sustainable Development:
Agenda for Sustainable Development aims at eradicating poverty in all its forms and dimensions, by ensuring an economic, environmental and social Sustainable Development. However, since innovations play a key role in the success and Sustainable Development of businesses, especially in a global market, it is also important to know about entrepreneurs’ behaviour. (Testa, R. 2021).

6) Marketing Management:
(Hadrian, P., et al, 2021)emphasizes that an efficient system of control is often considered one of the guarantors of the efficiency of the Management activities that have been undertaken within the scope of each implemented function of an organization, including the function of Marketing. Companies have to monitor their processes and activities no matter the results. These processes and activities must implement individual aspects of marketing activities. The control of marketing activities focuses on fulfilling requirements on marketing effectiveness. The differences in the perception of control are attributable to its various interpretations within the evolving concepts of Management

7) Capital Management:
The firms adopted a moderate–conservative strategy for their working Capital Management.(Zimon, G., et al, 2021) Working Capital Management (WCM) talks about a plan that allows companies to use their Current Assets (CA) and liabilities efficiently, indicating maintaining enough liquidity to meet short-term debt and expenses. The decisions on working Capital Management strategies are some of the most important and challenging tasks for corporate executives since they can play a decisive role in improving the financial situation of companies.

8) Industrial Development
Industrial development unleashes dynamic and competitive economic performance. Block chain technology plays a significant role in the Industrial development. Block chain is changing the means of information sharing over the internet and is being adopted by several industries globally for conducting business transactions in a secure manner. It has a vast range of features that can be used for managing transactional records in any type of industry. (Sheikh, M. I et al., 2021).

9) Business Ethics:
Ethics and values have become critical success factors of Business Proper implementation of Business Ethics in organizations can ensure maximization of lawful profits and effectively protect the interests of all stakeholders. Increasing profit is the basic drive, principle of business and economic profitability is the primary and prevailing factor in strategic business decisions, ethics, and Business eventually must conflict. (Slovakia.2021).

10) Customer service
The requirements and expectations of Customer in the modern sustainable service market are subject to dynamic changes. (Ostrowski, S., 2021) emphasizes that a new interactive technologies enable a more comprehensive presentation of the service offered, enhance the transparency of the process, and increase Customer confidence, as well as maintaining constant contact using technology and mobile devices, widespread availability of mobile devices and the growth of social media has opened up new opportunities for service providers to communicate with their retail Customer.

Conclusion:
Management plays a pivotal role in the operations of a business enterprise. Management should include all the above functions to attain maximum efficiency and profit for the business. The foundation of Talent management is to hire the right people for the job and then to motivate them to achieve the business goals. These employees want to see and understand the opportunities available within their company. They expect to see career development opportunities while being satisfied and motivated. When these employees are given proper training and development, they enhance their productivity, increases productivity and improves company culture. Through proper training and development, Employees get to know more about the allocation of the resources through resource management. Its ultimate aim is to maximize your resources’ efficiency. Sustainable development also encourages management to conserve and enhance the resource by using various technologies, which will help the business to attain its goal. Capital management helps the firm to achieve its sales and business objectives and also meet the need of consumers. Through Risk management, the organization can control threats on business capital and earnings. There should be proper ethics to be followed by the organization, which include customer service and industrial development so as to achieve the goals.

References:

Baldigara, T., & Duvnjak, K. (2021). The Relationships between Tourism and Hotel Industry Labour Market Determinants and the Number of Graduates. Tourism and Hospitality Management, 27(1), 43-61. Doi:http://dx.doi.org/10.20867/thm.27.1.4

Factors influencing the extent of the ethical codes: Evidence from Slovakia. (2021). Journal of Risk and Financial Management, 14(1), 40. doi:http://dx.doi.org/10.3390/jrfm14010040

Ferreiro-Seoane, F., Miguéns-Refojo, V., & Atrio-Lema, Y. (2021). Can talent management improve training, sustainability and excellence in the labor market? Sustainability, 13(12), 6645. doi:http://dx.doi.org/10.3390/su13126645

Hadrian, P., Milichovský, F., & Mráček, P. (2021). The concept of strategic control in marketing management in connection to measuring marketing performance. Sustainability, 13(7), 3887. doi:http://dx.doi.org/10.3390/su13073887

Ming-Lang, T., Tan, P. A., Kuo-Jui Wu, Remen Chun-Wei Lin, Todumrongkul, N., Juladacha, P., & Christianti, G. (2020). Sustainable total resource management in Thailand healthcare industry under uncertain situations. Sustainability, 12(22), 9611. doi:http://dx.doi.org/10.3390/su12229611

Ostrowski, S. (2021). Commitment ladder in the relationship between service providers and customers as added value in sustainable services development. Sustainability, 13(9), 5079. doi:http://dx.doi.org/10.3390/su13095079

Sheikh, M. I., Nowostawski, M., Jameel, R., & Mourya, A. K. (2021). Security aspects of block chain technology intended for industrial applications. Electronics, 10(8), 951. doi:http://dx.doi.org/10.3390/electronics10080951

Testa, R. (2021). Consumption and production patterns for agricultural sustainable development. Agronomy, 11(5), 814.doi:http://dx.doi.org/10.3390/agronomy11050814

Yildiz, R. Ö., & Soner, E. (2021). Talent management related concepts and debates in container shipping industry by an emerging market perspective. Journal of Shipping and Trade, 6(1) doi:http://dx.doi.org/10.1186/s41072-021-00090-6

Zimon, G., & Tarighi, H. (2021). Effects of the COVID-19 global crisis on the working capital management policy: Evidence from Poland. Journal of Risk and Financial Management, 14(4), 169. doi:http://dx.doi.org/10.3390/jrfm14040169
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