This website uses cookies to ensure you have the best experience. Learn more

Management: Theory, Practice And Applications Essay

1227 words - 5 pages

Organizing function of Management
MGT 330: Management: Theory, Practice and Application
University of Phoenix
Professor Marie Powell
Stephanie Wooten
April 26, 2010


Sam Walton was one of the famous American business leaders. Sam Walton was the founder of the Wal-Mart and Sam’s Club, which are the two American retailers. Sam Walton is one of the richest families in the world. He was born March 29, 1918 in Kingfisher, Oklahoma. His parents are Thomas and Nancy Walton. He grew up on a farm until the year of 1923 when his family moved to Missouri. After he graduate from high school he went to University of Missouri. He studied economics at the ...view middle of the document...

Walton and his brother Bud had operated and owned 16 variety stores in Arkansas, Kansas, and Missouri (Sam Walton’s Biography). In 1962, he opens the first Wal-Mart store in Rogers, Arkansas. When Sam Walton opens Wal-Mart in Rogers, Arkansas became the world’s largest retail store chain. Wal-Mart stores are in America, Mexico, Canada, Argentina, Brazil, South Korea, China, Germany, Puerto Rico, and the United Kingdom (Sam Walton’s Biography). Sam Walton had died in 1992 and left his empire to his wife and children (Sam Walton’s Biography). The Walton family is half of the ten richest families in the United States as of 2005 (Sam Walton’s Biography). If Sam Walton were still alive today he would be the world’s wealthiest man.
The organizational resources are the monetary, human resources, physical assets, knowledge, and technology. Monetary relates to the value of money. Human Resources management is the function within an organization that focuses on recruitment of, management of, and providing the direction for the people working for an organization. A physical asset is an item of economic, commercial or exchange value that has a tangible or material existence. Knowledge management is supporting creation, capture, storage, and dissemination of information. The knowledge management system is to enable the employees to have ready access to the organization’s documented base of facts, sources of information, and solutions. Technology is a human innovation in action that involves the generation of knowledge and processes to develop systems that solve problems and extend human capabilities.

Wal-Mart has a gift and gratuity policy for all vendors, suppliers and customers. The gift and gratuity policy is where no gifts or gratuities, which have monetary value, be given any way to any Wal-Mart or Sam’s Club Associate or potential Wal-Mart or Sam’s Club Associate (Wal-Mart Corporation). A supplier can donate gifts for the purpose of raising funds for a charity or a non-profit organization or to be resale at the Wal-Mart Associate store (Wal-Mart Corporation). A gift or gratuities would include free gifts, tickets to a sporting or a concert event, kickbacks in the form of merchandise or money, a special discount for any Wal-Mart or Sam’s Club employee, samples of their products, liquor, food products, meals or personal services (Wal-Mart Corporation). When a Wal-Mart or Sam’s Club associate receives any of these gifts or gratuities must be returned to the sender and to explain the Wal-Mart policy to them. When an item is not returned to...

Other Papers Like Management: Theory, Practice and Applications

Fin630 – Financial Management Theory and Practice

1425 words - 6 pages American Intercontinental University FIN630 – Financial Management Theory and Practice Unit 1 Individual Project November 12, 2011 Abstract This paper will present an analysis of the United Kingdom (U.K.) and the United Arab Emirates (U.A.B.) to determine both suitability and potential in each of the countries for a Greenfield project. This analysis will compare the financial conditions in each country as well as trade policies

Link Between Organisational Theory and Practice of Management

901 words - 4 pages Explain how the organisational theory underpins the practice of management. Organisational theory is very important because when applied in practice it can influence the overall performance of organisations. It is a sociological study of formal organisations and their interrelationship with the environment in which they are operating. The study of organisational structure and culture; the different organisational theories and approaches to

Business Cycle: Theory and Empirical Applications Country of Interest: Netherlands

3372 words - 14 pages University of Frankfurt am Main Bachelor Seminar Business Cycle: Theory and Empirical Applications Country of interest: Netherlands Teacher: Prof. Ctirad Slavik Summer Semester 2013 Yisong Dong Student ID: 3903447 June 17.2013 Contents 1. Introduction……………………………………………………………………3 2. Data Work………………………...…………………………………………...3 2.1 2.2 2.3 2.4 2.5 Data……………………………………………………………………3 Detrending the data with Hodrick-Prescott Filter………………..……4

Management Accounting (1984-1994) – Development Of New Practice & Theory

605 words - 3 pages MANAGEMENT ACCOUNTING (1984-1994) – Development of New Practice & Theory Introduction Decade during 1984 – 1994, management accounting has a revolution in theory and practices that identified failings and obsolescence of existing cost and performance measurement systems Three major change in new theory & practices that influence management accounting practices: Activity Based Costing Management Operational Control Systems Performance

Management: Theory, Practice, And Application MGT/300

2029 words - 9 pages Globalization, innovation and diversity at The Hershey Company impact the four functions of management locally, nationally and internationally. Our team assignment will demonstrate how The Hershey Company, North America's largest chocolate and non-chocolate confectionary and grocery products manufacturer, has effectively demonstrated its use of the four main functions of management. Proper planning, organizing, leadership, and control within The

Theory And Practice Of Organizational Learning Within The US Army

1963 words - 8 pages Theory and practice of organizational learning within the US ArmySuccessful organizations increase productivity, efficiency and reach their goals by developing their most important resource, its employees. Organizational learning is a primary function of human resources management that develops employees by giving them the required tools and knowledge to meet future challenges. The United States Army faces the same challenges of any civilian

Theory and Practice of the Economic Analysis of Law

1006 words - 5 pages THEORY AND PRACTICE OF THE ECONOMIC ANALYSIS OF LAW POSSIBLE TOPICS FOR SEMINAR PAPERS 1. General Approaches Overview paper on classical, behavioural, neuro-economical approaches. 2. The Assumption of Economic Rationality Standard economic analysis assumes that people are rational maximizers of their own utility. This assumption consists of a cognitive element (“thin rationality”, the assumption that people’s preferences meet the

Critically Assess the Ways in Which F.W. Taylor's Scientific Management Theory Has Influenced Has Influenced Contemporary Management Practice

2992 words - 12 pages Taylor’s working conditions who perceived the workers to be economically motivated coded machines and disregarded their social factor and needs (Grey, 2009). However, the human resource theory is built from Taylor’s principles of scientific management, but just adding the social aspect into the scientific management to increase efficiency and productivity. In order to have proper control of the workers, it is necessary to understand and predict

Group Collaboration and Web 2.0 Applications: Knowledge Sharing/Retention, Innovation and Talent Management

2249 words - 9 pages Group Collaboration and Web 2.0 Applications: | Knowledge sharing/retention, innovation and talent management | | | | [Type the author name] | 8/16/2009 | | Instructor Background Affiliated Computer Services, Inc. (ACS) is an outsourcing company for business process outsourcing and information technology services and has more than 70,000 employees worldwide. ACS has three divisions: IT services, Government Solutions and

New Constitutional Elements to Resolve National Conflict in Ethiopia: the Theory and Practice

4721 words - 19 pages New Constitutional Elements to Resolve National Conflict in Ethiopia: The Theory and Practice Small Paper for the Course : From Conflict to Inclusive Development Sub unit two B:The Peace Process Prepared by :Gebru, Masho Governance and Development Rolnummer:20085576 Institute of IOB Untwerp University Antwerp Belgium Submitte to :Dr Perrot, Sandrine

Case Studies 5.1 - 5.2 - 5.3 Ais 4081 Leadership Theory And Practice

903 words - 4 pages Laurie Baird Case Studies 5.1 - 5.2 - 5.3 AIS 4081 Leadership Theory and Practice February 6, 2013 Case 5.1 Questions: 1) According to the basic assumptions of situational leadership, where would you place the three managers in regard to levels of development in the SLII model? Rick Nakano - D4-level. "Seasoned workers with proven abilities and great devotion to a company would be identified as functioning at the D4 level

Related Essays

Management : Theory, Practice, And Application

1242 words - 5 pages Anitra Martin Axia Management: theory, practice, and application Ronald Sprague MGT/330 September 19, 2011 There are four functions of management, planning, leading, organizing, and controlling are instrumental to meet organizational goals. Planning is typically performed by managers, however, employees should be provided an opportunity to voice opinions and offer suggestions. Most of the employees, when given the

Management Theory, Practice, And Application Essay

1241 words - 5 pages Organizing Paper University of Phoenix Management Theory, Practice, and Application MGT-330 May 17, 2010 Organizing Paper How a corporation organizes itself may be the most essential part in determining if their strategy will be successful (Bateman & Snell, 2009). Through organizing Wall-Mart top-level managers develop the plan laying out tasks and resources that are needed to accomplish the goal. By recognizes the value of

Financial Management Theory And Practice Essay

1450 words - 6 pages due to the large number of bad mortgage loans and the complexity of those securities. References: Brigham, E., & Ehrhardt, M. (2010). Financial Management Theory and Practice (13th ed.).South-Western Publishing. ----------------------- Sole Proprietorship Partnership Corporation

Scientific Management Theory: Views, Considerations, And Applications

1314 words - 6 pages Running Head: SCIENTIFIC MANAGEMENT THEORY 1 Scientific Management Theory Views, Considerations, and Applications Charles Oduyoye Kaplan University Prof. C. DeAtley HA510-01 Organizational Development for Healthcare June 27, 2011 SCIENTIFIC MANAGEMENT THEORY Frederick Taylor, considered by many to be the Father of Scientific Management Theory, defines it as “the