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Management Functions Essay

553 words - 3 pages


Opening a business is a big step for anyone, but actually managing and structuring a business can be difficult. Making sure that you follow through with planning, organizing, leading and controlling one can be difficult. Doing your research is essential to learning how to manage and provide the appropriate information to your employees.
There are necessary steps that must be taken in order to achieve success within a business. It is important that management think rationally about problem solving situations, make sure that employees can stay on task, lead a basic formation, and direct the company in an efficient and effective way.
When organizing a business you would need to make sure that you entail all processes. There are so many different ...view middle of the document...

Based on the information this would be the lowest investment option, due to the inventor having little financial and management skills. This makes sure that the company can follow through with an appropriate management and to assemble the product. There are some consequences in going with the outsourcing decision, although I feel that for this scenario this is the best option. I believe that you lose being more involved in the company. There are so many different owners and managers that you do not get to be more involved in the manufacturing process and management of the product. This is why planning and organizing the company before carrying out any decisions is important.
Starting off with planning makes sure that you complete steps. It can keep a business thriving to move forward. There are many types of planning. Strategic, tactical, operational, and contingency planning all plays major roles in providing the company with the resources in order to be successful.
Organizing makes sure that you are structuring the business and maintain operational needs. This could be an employee handbook or policy procedures manual. Having a policy procedures for an employee to relate to helps the business be more organized.
Leading is motivating and making goals reachable for employees. Learning how to have a kind professional voice, good work ethic and valuable teaching skills can make a company achieve expectations.
Controlling pertains to performance and taking the necessary measures to ensure that the company is making the corrections in order to achieve attainable goals. Management plans a role is this by measuring the performance of the employees. They evaluate what type of corrective action is needed in order to make changes to make the company

BUSN105 Scenario
Unit 4 glossary
BUSN1058 Unit 4 “What if Analysis”
Editorial Board. Introduction to business. Words of Wisdom

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