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Functions Of Management Essay

819 words - 4 pages

Planning
Planning is specifying the goals to be
achieved and deciding in advance the
appropriate actions taken to achieve
those goals. Planning activities include
analyzing current situations,
anticipating the future, determining
objectives, deciding what types of
activities the company will engage in,
choosing corporate and business strategies, and determining the resources needed to achieve the
organization's goals. The outcome of the planning process is the organization’s strategy.
b. Organizing
Organizing is assembling and coordinating the human, financial, physical, informational, and other
resources needed to achieve goals. Activities include attracting people to the ...view middle of the document...

The fourth
functional controlling, monitors progress and implements necessary changes. When managers implement
their plans, they often find that things are not working out as planned. The controlling function makes sure
that goals are met. It asks and answers the question, "Are our actual outcomes consistent with our goals?" It
makes adjustments as needed. Specific controlling activities are to set performance standards that indicate
progress toward long-term goals; to identify performance problems by comparing performance data against
standards; and to take actions to correct
problems. Budgeting, information systems, cost
cutting, and disciplinary action are just a few of
the tools of control. Successful organizations,
large and small, pay close attention to how well
they are doing. They take fast action when
problems arise, and are able to change as needed.
The outcome of controlling is an accurate
measurement of performance and regulation
of efficiency and effectiveness
iii. Effectiveness & Efficiency
Productivity = Efficiency x Effectiveness
a. Efficiency is the ratio of
outputs to inputs.
b. Effectiveness is the degree
to which the organizations
output correspond to the
need and wants of the
external environment that
include customers’ suppliers’
competitors and regulatory
agencies.
iv. Manager
The member of the organization who
participates in the management process by planning, organizing, leading, or controlling the organization's
resources.
v. Types of Mangers
There are three types of mangers…
1. Strategic Manager: Strategic
managers are the senior executives
of an organization and are
responsible for its overall
management. Major activities include developing the company's goals and plans. Typically
strategic managers focus on long-term
issues and emphasize the survival, growth,
and overall...

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