FUNCTIONS OF MANAGEMENT 4
Running head: FUNCTIONS OF MANAGEMENT 1
Functions of Management
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The Four Functions of a Manager
Planning
The planning aspect of management refers to the process of making decisions about where the company is supposed to be in future and what it is supposed to achieve through formulation of objectives.
Organizing
Organizing involves bringing together the financial, physical and human resources for the purpose of achieving the set objectives. The process can be carried out through identification and assignment of activities to different groups and delegating authority.
Leadership
This is the use of bestowed authority to influence and motivate employees to work towards achieving the goals of the organization.
Control
The control function involves doing a comparison of performance against the objectives of the organization. In caseof deviation from the successful achievement of set goals, the manager authorizes corrective measures to put the organization back on track.
How are these functions applied at your organization (or an organization with which you are familiar)?
Starbucks represents an ideal example of how to utilize the managerial functions. The company has strong management teams which have worked together to make Starbucks one of the most successful restaurant outlets in selling packaged premium coffee. Leaders at both the higher and lower levels of management at Starbucks demonstrate exceptional communication skills. According to Wheelen and Hunger (2010), the company has invested heavily to ensure the managers are highly competent in planning, organizing and controlling the employees by instilling competence, humility and values that define Starbucks as a brand.
How can you apply each function to more effective and efficient at simultaneously managing school, career, and family?
Planning helps in time management and setting personal goals.
Organizing is applicable in allocating the available resources such as personal finances towards acquiring the essential resources for achieving personal goals.
In terms of leadership, I would prefer being obedient to the authority so as not to fall on the wrong side of the law. In addition, seeking role models who can influence personal life in a positive way is also crucial.
The control function is also useful in providing a mechanism for measuring performance and making a comparison to determine the if the set objectives can be achieved within the set timeframe or corrective measures have to be made in order to meet the targets or beat deadlines.
Reference
Wheelen, T. L., Hunger, J. D., Hoffman, A. N., & Bamford, C. E. (2017). Strategic management and business policy. pearson.
Kinicki, A., & Williams, B. K. (2016). Management: A practical introduction (7 ed.). New York, NY: McGraw Hill Education.
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