...are planning, organizing, leading, and controlling. Management of a company is crucial. Goals set by the company must be met in order for the company to run effectively. A manager must achieve the company’s goals by being resourceful meaning “time is money” therefore, creating a plan that will help the manager achieve the company’s goal is key. A good manager will be effective and efficient. During these rapidly changing times, managers must focus on being effective and efficient in order to be successful no matter what changes the company implements. A good manager will execute his functions while maintaining the balance between the planning, leading, organizing, and controlling. Planning: Strategically planning in order to make sure goals of the company are met effectively and effectively. Organizing: Assembling and coordinating the human, financial, physical, informational, and other resources needed to achieve goals. Organizing activities include attracting people to the organization, specifying job responsibilities, grouping jobs into work units, marshaling and allocating resources, and creating conditions so that people and things work together to achieve maximum success (Bateman & Snell, 2009). Leading: It includes motivating and communicating with employees, individually and in groups. Leading involves close day-to-day contact with people, helping to guide and inspire them toward achieving team and organizational goals. Leading takes...
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...Which of the following best defines the entrepreneurship process? A. Providing both direct and indirect services to customers B. Using IT to assemble materials into the final product C. Acquiring and combining resources to create goods or services for customers to buy. D. Exchanging or selling services to other companies Correct : The main role of the entrepreneur is to provide the vision and resources to create goods. The other activities listed are typically the role of employees. Materials The Role of the Entrepreneur 2. How do managers help the company’s stakeholders? A. Assisting customers with their purchases B. Assembling materials into finished products C. Providing financing to grow the business D. Creating profitable goods and services Correct : Managers are employees hired by business owners to “use their resources to create profitable goods and services” (Jones, 2007, p. 74). Materials The Role of Management The Agency Problem: The Separation of Ownership from Control 3. What is a difference between an employee and a manager? A. Employees are responsible for providing vision and leadership B. Employees hold each other accountable for success of the business C. Employees have decision making authority over the organization’s resources D. Employees perform the many jobs to make, facilitate, and sell a product Correct : Employees perform “the many jobs necessary to make and sell a product” (Jones, 2007, p. 82).The main...
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...Functions of Management Giovannina McGrath University of Phoenix Introduction In order for a business to be successful in the world today, they should possess all four of the functions of management. These four functions are planning, organizing, leading, and controlling. It is important that all of these aspects of management be understood to enable a business to be successful at meeting their goals. Examples of performing these four functions are planning by delivering a set of values that are strategic, organizing by building an organization that is dynamic, leading by being able to mobilize people, and controlling by making changes and learning. All of these can successfully be carried out through communication and decision-making. Management is creative problem solving. This creative problem solving is accomplished through the four functions of management; planning, organizing, leading and controlling. The intended result is the use of an organization's resources in a way that accomplishes its mission and objectives. (From Higgins, Page 7) Bakeman (2004) stated “Information should be added to the 6 management functions. None of the other functions can take place effectively without information. Information is vital to decision making. It is needed in order to be able to forecast, plan, organize, coordinate, command, and control. Technical, commercial, financial, security, and managerial activities cannot happen properly without relevant information...
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...Management and Leadership Paper Jerrie Lewis MGT/230 Management Theory and Practice April 15, 2013 Peggy Terrasi Many people today are seeking to understand the concepts and practices of leadership and management. Within this paper I will be discussing the difference between management and leadership, addressing cultivating leadership skills in managers and how managers can increase organizational performance by setting effective expectations, and describing the roles managers play in creating and maintaining a healthy organizational culture when applying leadership principles. I will also summarize best practices for leading in a diverse workplace and addressing how leveraging diversity can benefit an organization. When we think about what a leader and a manager is, most of us will use the same meaning. But in actual fact this is incorrect. We have to look at these two terms differently. The biggest difference between managers and leaders is the way they motivate the people who work or follow them. A manager usually does things by the book and follows company policy, while leaders follow their own intuition, which may in turn be of more benefit to the company. Leaders share a dream and direction that other people want to share and follow. Many people believe that leadership is simply being the first, biggest, and most powerful. Managers, on the other hand, establish the infrastructure, processes, and boundaries that allow the team to reach that vision. Managers are...
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...discuss the four functions of management, the basic function include controlling, leading, organization and planning. These functions are instrumental when taking on a role as a manager for a business. These functions will help strategize, analyze current issues and business values along with creating and choosing the right resources to achieve the organization goals. Function of Management This paper will explain how the four functions of management are applied to a business. To address these functions as the managers a team would be developed to delivers strategic values and analysis through current issues, identify the present and future objectives, evaluate the activities the company will be involved in. Based on the assessment developed you then would have to make the determination on how the organizational goals will be met and a begin planning on setting standards, creating actions plans to have the best results and achievements. A major part of a business in order to be dynamic is organization; this function needs to a huge focus when strategizing and developing an organization. When identifying the type of functions you need create and establish relationship, develop a public relations/personnel department who will handle the duties of planning, programs and paperwork. To become an effective manager being able to use all resources that can develop the organization to become flexible and particularly capable in responding to the needs of customer’s...
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...The Role of Leaders in Creating a Learning Organization Introduction The concept of learning organization is undeniably an emerging one necessitated by the ever changing environment in which organizations operate. This dynamism requires an organization with structural designs which are flexible enough to allow for an organization to draw lessons from experiences especially its own and actually apply these lessons. This particular paper describes the role of leadership in creating a learning organization. Role of Leadership in Organizational Learning Therefore, it is imperative that the organization’s culture and ultimately, its leadership style are accommodative enough to encourage and allow for a change in the mindset and behaviors of the employees and the organization by extension. Learning within an organization is a complex undertaking that involves various processes which go on indefinitely and requires ‘motion’ from all levels of management of the organization. Information must be created and shared amongst all employees within the organization their rank and seniority notwithstanding. Moreover, it has serious financial implications to the organization but this alleviated by the numerous benefits of learning within the organization. The organization will not only become competitive in the labor market but also in the product market because its labor force is highly productive, innovative and creative as a result of sharing information. Both motion of ideas and information...
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...team Personalities and attitudes Employees who speak openly about ideas and accept others ideas in a professional manner Employees who may get worked up easily when spoken upon Conflict resolution Employees who resolves issues and conflicts easily and effectively Employees who may not work well under pressure or under leadership Identifying and creating objectives Employees of the team who may be creative and works well with creating plans and identifying right from wrong Employees who may not have the mindset of creating and planning out strategies Feedback Employees who provides helpful information and effectively communicate with the members about the choices being made Employees who may not speak on how they feel about the outcome but may speak on it outside the environment 2. Identify the team formation strategy that is most suitable for Riordan Manufacturing, and provide the rationale for the decision. Your response should be at least 100 words. The team formation strategy more suitable for this organization would include current employees and some new hires to provide an equal ratio. The decision is based on the right give all employees a chance to work together in helping to organization succeed. It is also allowing us to equally distribute any assistance to all employees so that all tasks and duties can be completed in a timely manner without hesitation. It is a major duty to fit the needs of the company but allow the employees to reach our...
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...combination of knowledge, skills, behaviors, and attitudes that contribute to personal effectiveness. Managerial competencies: sets of knowledge, skills, behaviors, and attitudes that a person needs to be effective in a wide range of positions and various types of organizations. Six managerial competencies: 1. Communication Informal communication Formal communication Negotiation 2. Planning and Administration Information gathering, analysis, and problem solving Planning and organizing projects Time management Budgeting and financial management 3. Teamwork Designing teams Creating a supportive environment Managing team dynamics 4. Strategic Action Understanding the industry Understanding the organization Taking strategic action 5. Global Awareness Cultural knowledge and understanding Cultural openness and sensitivity 6. Self-management Integrity and ethical conduct Personal drive and adaptability Balancing work and life demands Self-awareness and development What is an organization? Organization: a coordinated group of people who function to achieve a particular goal. Regardless of an organization’s specific goals, the job of managers is to help the organization achieve those goals. What is a manager? Manager: a person who plans, organizes, leads, and controls the allocation of human, material, financial, and information resources in pursuit of the organization’s goals. Different managers: department managers...
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...Running head: LEADING WITH VISION Leading with Vision LEADING WITH VISION Abstract This essay summarizes the importance of leading with vision and goal setting. An effective leader understands and recognizes the importance of creating and communicating a clear vision as well as setting the goals to achieve said vision. Important aspects of setting goals, goal characteristics and the six steps of goal setting are detailed. LEADING WITH VISION Leading with Vision Leading with a clear and concise vision or purpose is the primary step to developing and leading a team. According to Friedman (2013), “True leaders lead with vision. The best and most effective leaders are able to paint a compelling and inspiring picture of what the future will look like”. People want to be involved in a successful and winning vision and want to follow someone that communicates clearly and effectively as to where the future will lead. No one wants to be involved in a dead-end project, it simply isn’t engaging. In order to lead a team to the end purpose or vision, a leader must understand that goals must be set. Setting Goals There are several things to keep in mind when setting goals including reality, attainability, organizational improvement, team involvement and processes. First and foremost goals need to be tough to reach yet still attainable. Setting goals that are impossible to reach will either discourage employees and make them quit trying altogether or will simply...
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...Individual- Functions of Management Paper Kristy Kobzeff MGT 330 November 3, 2014 Individual- Functions of Management Paper Any organization, no matter how big or small, needs to run efficiently to accomplish the goals and objectives that the company has set out. For that reason, they have developed and executed management functions for these organizations. There are four management functions that allow organizations to take control of the strategic, designed and set decisions. These four functions are planning, organizing, leading, and controlling. These four functions are incorporated together and reoccur throughout the entire organization. The successful manager must aggressively perform these four basic functions continuously. Planning: Planning requires management to evaluate where the company is currently set and where it will be in the future. From there, a proper course of action is determined and executed to achieve an organization’s goals and objectives. There are many outside factors that continually affect an organization and because of this it is imperative that planning be a very significant step in all management processes. These management skills are imperative steps for an organization to thrive and succeed. I work at Good Tenant Services as a Brokers Assistant. The company has a mission statement and has a certain protocol which must be maintained. My Broker sets goals and plans around these four functions of management and I am expected to carry...
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...The Four Functions of Management Management is the art of effectively organizing people and things using the resources available to achieve an overall goal. Management is necessary because it enables the overall organization, group or business to operate efficiently by properly allocating the resources utilized. Great management within a system that works leads to great success no matter what the venture may be. Management has evolved in that business has become a global enterprise. In today’s global economy, management demands a much more structured, generic and appealing approach because it must communicate to a variety of people (Batemen & Snell, 2008). It is because of this vast increase in the sheer amount of people, that management has gone from a much more “do as I say or your fired” role and transitioned into a “this is the way we do it here at Burger King” kind of way. This generic and appealing yet simpler model of management consists of four basic key concepts. The four key concepts of management include leading, controlling, organizing and planning. I placed them in this particular order because I believe that what they have in common is their ability to be placed in that order. Once a person has shown their ability to lead effectively, it enables that manager to have control over the employee because the manager has shown through their leading that they are fully able to essentially “practice what they preach”. Once a manager has control he can then begin...
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...Change Process and Organizational Behavior / Management Abstract Organizations today must learn to adapt to an ever changing global market or they will surly fail. Changes within a firm must be optimized to address the increased competition as a result competitors producing products better, faster, and cheaper. Change management processes must be developed and matured within the organization in order for them to remain competitive. Only through good leadership and the understanding of how to incorporate change can a company survive in today’s fast-paced, ever changing world. Common Errors and Consequences to Anchoring Change Over the years many firms have tried, but failed miserable because they were unable to effectively manage the processes of change which they have established in their organizations. Major change management is an extremely difficult simple process, but when all of the steps or phases of that process are followed, as mentioned in Kotter’s book Leading Change, the outcome will most always be positive. But, if a step(s) is skipped or only partially completed, implementation of the desired change effort will be less than desirable or fail completely. Kotter (1996) states, “To some degree, the downside of change is inevitable. Whenever human communities are forced to adjust to shifting conditions, pain is ever present.” (p. 4). Below are eight the most common errors and the consequences that affect the success of the change process. Figure 1 - Eight...
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...High energy extreme sports vacations are something that is my lifelong dream. Having a strategic plan and goals could turn that dream into a reality. The creation of Action Adventures Llc, will create an opportunity for people and families with the need for high energy, adrenaline packed adventures to access various outlets of thrill seeking adventures. Action Adventures will tap into opportunities such as, Nascar adventures, sky diving, hang gliding, wind surfing and many more thrilling adventures. Aa will serve as the middleman in creating customer specific adventures for the thrill seeking enthusiast. Aa will mirror the general purpose of a travel agency. The vast difference being that aa will plan and seek out high energy action sports adventures for those that are more daring and seek a vacation of a lifetime. The market is currently saturated with individual operators that offer one specific extreme action sport adventure. Aa will bring together the enthusiast and the providers. Strategic planning will determine the course of this new business. A strategy provides a framework for managerial decisions, reflection a company’s awareness of how, when and where it should compete; against whom it should compete, and for what purposes it should compete. (Pearce, Robinson 2004) The mission statement is a living statement and may need to be changed to meet the needs of changing times. Once the mission statement has been formulated goals to be reached to accomplish the mission...
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...Management is the process of working with people and resources to accomplish organizational goals. A good manager does this both efficiently and effectively. This means that not only does the manager get the tasks done, but he or she also does it in a timely manner, controls costs and use its people and materials wisely. There are four types of management functions: Planning, organizing, leading and controlling. Planning is the management function of systematically making decisions about the goals and activities that an individual, a group, a work unit, or the overall organization will pursue. Planning is specifying the goals to be achieved and deciding the appropriate actions needed to achieve those goals. Planning includes analyzing current situations, anticipating the future, determining objectives, deciding in what types of activities the company will engage, choosing corporate and business strategies and determining the resources needed to achieve be organizational goals. In my organization, in my position, a lot of time goes into planning. We have to plan for quarterly board of director’s meetings, bi-annual strategic planning meetings, annual business planning meetings and monthly management meeting and financial reviews. One of the main aspects of my job is planning all of these meeting and making sure they are executed effectively, efficiently and at the lowest possible cost. Organizing is the management function of assembling and coordinating human, financial, physical...
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...is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively. Key Points · Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. · In for-profit work, the primary function of management is the satisfaction of a range of stakeholders. · In the public sector of countries constituted as representative democracies, voters elect politicians to public office, who then hire managers and administrators. · Since organizations can be viewed as systems, management can also be defined as human action, including design, to facilitate the production of useful outcomes from a system. Overview Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources. Since organizations can be viewed as systems, management can also be defined as human action, including design, to facilitate the production of...
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