Mgt/521 Chapter 5, 6 Discussion

ASSIGNMENT-1: Principles of Management (MGT101)Question 1From a management perspective, it is evident that Target made some major mistakes in handling the hack that exacerbated their already precarious situation. These mistakes have compromised their reputation as a trustworthy and reliable retail store among its employees, customers and the general public. The first major mistake the company made from a management perspective is taking too long to make decision on whether to go public regarding the data breach. By taking time to announce the breach and the number of people affected, the company’s management opened doors for rumors and speculations to take precedent over the truth thereby damaging the company’s reputation further. Secondly, the management did the mistake of making promises they could not keep because of making decisions based on incomplete information. The promise to provide free credit monitoring and identity theft insurance for one year to all its customers was made in a rush without appreciating the legal and financial implications it would have on the company. Question 2The company’s CEO, Greg Steinhafel exhibited four functions of a manager in handling the crisis. First, Steinhafel exhibited controlling function of a manager by monitoring the performance of his employees through