Economics: interview essay examples

Different personnel are charged with the responsibility of making effective decisions in respect to management, economics, and business strategies. Making such managerial and business decisions is important for the effective and efficient running of a business enterprise. An individual who is involved in the management and accountability of an enterprise’s activities obtains adequate skills, knowledge, and experience towards making appropriate decisions. The following is a paper that provides a summary and analysis of an interview. The interviewee is an individual involved in managerial and economics business decisions towards securing effective and efficient business strategies.

Summary of the Interview

Various questions were asked in respect to managerial and economics activities that aim at not only identifying the best alternatives but also developing effective alternatives in respect to business strategies. The following are the questions asked and a description or analysis of the answers obtained from the interviewee.
– What is your role and responsibility in the organization?
The interviewee’s role in the organization is the head of operations. The interviewee confirmed through the interview that according to the structure of the organization, he is the vice president in-charge of business operations. Under him, there are five directors in-charge of human resource, finance and accounting, marketing and sales, procurement and supplies, and information and technology (Pindyck and Rubinfeld 58). These are very important departments within the organization without which there can be ineffective production process. The interviewee is the one who controls all the five directors and other employees in the organization. It is evident from the interview that all the daily operations of the corporation entirely depends on the interviewee; the vice president under management.
Amongst the roles and responsibilities that he mentioned included overseeing all the functions of all the directors. The interviewee also confirmed that it is his duty to define the objectives of the organization, draft the plan and budget of the organization, and linking up all the employees to the president. All the activities that require withdrawal of money from the bank must pass through him in order to make sure that every procedure is followed. The interviewee (vice president of the corporation) also attended all the departmental meetings as an executive participant. In addition, the vice president is the one in charge of calling special meetings within the company whilst the president, who is the CEO and secretary to the board, calls meetings involving other stakeholders. There is no doubt therefore that the interviewee is highly involved in making managerial and economics decisions.
– What kind of resources do you manage? How do you manage your resources?
In order to understand the role of the vice president further, the interviewee was asked about the resources he manages and how he manages them. The interviewee confirmed that some of the resources he manages or controls are the human resources even though there is a human resource department. According to the vice president, it is important for every manager to understand human resource management since in most cases one would always find him/herself engaging the employees (Pindyck and Rubinfeld 61). In addition to dealing with human resources, the vice president confirmed that he is also in-charge of all the assets in the organization. Every time a new asset is brought in the he has to ensure that it is recorded.
In respect to management of the resources, the interviewee vividly described how he manages the non-human resource through adequate and effective recording. According to the interview, every asset within the organization is recorded and the records are kept by the vice president. It is important to note that management of assets or non-human resources require adequate information on how to deal and protect the resources (Daft 39). With respect to human resource, the vice president confirms that even though there is a human resource management, there are strategies that he has proposed so far that they can attract and retain employees. Amongst the strategies that he recommended, which have been very effective include motivation through financial and educational rewards.
– What is the process of making decisions within your organization?
In respect to the decision making, the participant was asked on the specific methods and techniques comprising the overall decision making process. Despite the fact that many organizations have different ways of making decision (Harvard Business Press 21). According to the interviewee, there are seven stages that the decision-making process falls. In this regards, the interviewee confirmed that the stages that the decision-making process undergoes include definition of existing problems, identification of the various limiting factors, from the limiting factors; the people concerned identify alternative courses of actions that can be used in order to correct the situation (Talley 3). After identification of the alternatives, the responsible group is given the role and responsibility of analyzing all the alternatives identified.
The step that follows is selection of the best alternative amongst the identified alternatives. The interviewee confirms that he chairs the group that selects the best out of the many alternatives provided. From the interview it is clear that there are specific managerial committees that perform specific functions (Talley 4). After the selection of the best alternative, the same committee that identified the alternative is expected to implement the decision. Implementation of the decision is every individual’s responsibility under the control of the vice president of the firm (Shapira 49). Last, the decision making process in which the interviewee is involved in is the establishment and control of the various evaluation systems (Harvard Business Press 28). Evaluation and control procedures are effective in making sure that a particular problem within the corporation in question is eliminated. Indeed, it is undisputable that the corporation has a lengthy process of making adequate decisions.
– What are the strategies involved in ensuring effective productivity?
Effective production is an important aspect of every business enterprise or corporation. Effective production results from adequate and proper management (Shapira 53). The interviewee believes that with effective and good leadership, it is possible for an organization, corporation, or business enterprise to meet its objectives on the basis of their products and services. The interviewee confirmed that as the chairman and organizer of all the internal meetings, it is sometimes difficult to have what we have (Harvard Business Press 29). However, with effective managerial skills, one is able to attract resource towards him or her hence making Kenya as a country to appear in many operas.
The interviewee pointed out that effective productivity is attained through effective, motivated, and fulfilled employees. The process of motivating and fulfilling the employees involve various business strategies and resources. For instance, the interview confirms that in order to motivate and fulfill the employees, there are various resources that are required such as financial resources for motivating them and other strategies for attracting talent. Indeed, the vice president of the corporation has a lot of functions, responsibilities, and roles that cut across all the departments (Daft 56). Therefore, there is a clear understanding on the effectiveness of productivity and the contribution of vice president.
– Do you set objectives and aims in the company? How do you meet such objectives? What can you attach credit to in respect to attainment of the objectives?
The vice president of the organization confirms that they have set objectives and aims. Set objectives and aims provide a clear direction towards developing accurate procedures and actions in order to achieve them (Shapira 58). Setting the objectives and aims of the organization provide a clear vision and mission towards achieving the same. It is important that every organization is involved in setting up clear objectives and aims that conform to the business activities in question (Daft 53). Therefore, the interviewee confirms that it is important to have set objectives and aims, which may also act as targets. In respect to achieving the set objectives and aims, the vice president asserted that all the resources, measures, and strategies are put in place in order to include everyone in the attainment of the set objectives and aims.
Amidst all these things, the vice president believes that the most influential and important aspect in attainment of set objectives and aims is the communication between the leader and subjects. Communication is a tool that makes it possible to solve any problem that might arise from the employees and all other stakeholders. As a final remark, the vice president advises corporations and their managers to always ensure that they solve any arising problem.

Works Cited

Daft, Richard. Organization theory and design. Mason, OH: South-Western Cengage Publishers, 2010. Print.
Harvard Business Press. Making Decisions: Expert Solutions to Everyday Challenges. Boston, MA: Harvard Business School Publishing Corporation, 2008.
Pindyck, Robert and Rubinfeld, Daniel, Microeconomics (8th ed.), Upper Saddle River, NJ: Pearson, 2012. Print.
Shapira, Zur. Organizational design making. New York, NY: Cambridge University Press, 2002.
Talley, Jerry. Decision making in organizations. April 2011. Web. 10 March 2013.