...Name Functions of Management University of Phoenix MGT/330 Management January 23, 2011 Teacher Functions of Management Paper In order to maintain a good company you have to have a good management team that will look after what is in the company’s best interest. Uniquely enough the functions of management describes manager’s jobs. The four functions include Planning, Organization, Leading and controlling. The functions of management define the specific process of management as distinct from Marketing, finance, accounting, and other business functions. Each function is implemented to a business by the management team and how the management team implements these four fundamental functions of management to ensure the business will be run productively, will use resources in a business manner, budget time efficiently and be cost effective. Planning Planning is the function of management that will involve setting goals and a course of action to achieve these goals. The management team implements strategic values through planning activities that include analyzing what the current issues are, determine the present and future objectives, decide on the types of activities the company will be involved in, determine business strategies, and choose the resources needed to accomplish the organizations goals. Planning requires that the managers be aware of the environmental conditions facing the company and predict future conditions. It also requires that the mangers have...
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...Functions of Management United Health group is a major insurance company that provides medical and mental health coverage to its consumers. The organization manages Medicaid and Medicare accounts as well as commercial accounts from employers. Providing healthcare insurance is a competitive job, therefore, the management of the organization has to use the four functions of management to remain in the competition. The four function of management are planning, organizing, leading and controlling. In this paper, we will discuss the four functions of management and how it relates to the organization. The four functions of management is planning, organizing, leading and, controlling. Planning is for the goals of the organization, planning sets the stage for action and major achievements. Organizing is assembling and coordinating human, financial resources needed to achieve the goals. This could be organizing activities such as grouping jobs into work units, marshaling and allocating resources and creating conditions so that people and things work together to achieve maximum success. Leading is stimulating people to be high performers. Leading can take place in departments, teams as well as divisions. By encouraging high performers, you are increasing their inner moral, making them feel and believe they can complete their goals rather it is individual goals that coincide with the organization’s goals. Another management function is controlling, managers make sure the...
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...Functions of Management Paper February 18, 2012 MGT/330 Four functions of management- planning, organizing, leading and controlling, are very helpful for management in devising strategies so that organizational goals and objectives can be achieved. Almost all successful organizations practice these four functions of management. If these functions are executed properly, it improves competitiveness and productivity of the organization. I work for Verizon Wireless. Verizon Wireless is a joint venture of Verizon Communications and Vodafone. Verizon Wireless is most reliable wireless network in America. Verizon Wireless has 80 million subscribers. They are among the best run organizations in world. (Verizon Wireless Corporate Website). Verizon Wireless is very competitive industry where continuous innovation is a must to survive. Telecommunication business is exposed to several internal and external environmental factors, which makes practice of management functions more important. At Verizon Wireless, four functions of management are practiced effectively and it has contributed in the success of the company. How these four functions of management are practiced in an organization depends on the nature of business of the organization, it is vision, mission, organizational culture, and various environmental factors. Planning: First management function of POLC model is planning. Planning starts with vision and mission and concludes with setting goals and objectives...
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...The Four Functions of Management Every organization has managers. Effective management is essential to an organization if they are going to achieve their goals and survive. Efficient managers must be able to make the right decisions about the organizations resources quickly and take responsibility for those decisions. In order to be a good manager you must understand the four functions of management which are planning, organizing, leading and controlling. All these functions have one thing in common, achieving the organizational goal. This paper will describe the four functions of management and how they apply to my position on a government contract with the Navy. The first function of management is planning. In this stage a goal is created and the best way to achieve that goal is decided. To do this you must determine when, where, and who will be needed to complete the task. What resources you will need to do the job, and how long the job will take. On my job I do a lot of traveling to various government sites to inventory assets so they can see what they have and manage it better. In our planning stage we must determine which site to visit first. Once that has been decided we must determine how many people from the office will be needed to do the inventory data entry and if local hires will be needed to finish in a timely manner. We must figure out how much it will cost to travel to the site and what equipment we will need to take. We must determine in advance...
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...Four Functions of Management For BMGT 364 Professor Vaughn Jenkes Theresa Scott A man sits at his desk biting on his pen hair tussled and sweating bullets. He is reading over his monthly finance report. It is just not making sense to the man he does not understand why he is not making a profit. Unfortunately, this is the scene for many managers of organizations. When operating a business its best to have a concise plan because, it could be crucial to the company’s success or failure Managers needs to have a clear understanding of the four functions of management. The four functions of management are planning, organizing, leading, and controlling. An Analysis of the four functions of management will reveal how understanding and knowing how to apply these four functions can be critical to an organization’s success or failure. Applying these functions can bring in a profit for the company and helps management control the company properly. Planning is a preliminary step it requires management to look ahead and map out a plan to be followed. Planning will map out when how and who is going to perform a task in the organization. When planning management focus on how to achieve goals and objectives of the company. To help them to prepare they can use planning tools such as the forecasting tool. Forecasting is useful because it gives the organization the ability to understand the future makeup of the organizational environment which helps the owner produce...
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...Internal and External Factors Paper J.Simpson; Eileen Reyes; Kevin Fears; Ashley Brown; Brittany Team A University of Phoenix MGT/230- Steven Friloux November 23, 2015 Internal and External Factors Paper Introduction The four management functions are influenced by internal and external factors. In our learning team’s paper, we will discuss some of the factors that affect the functions of management in a global environment. From internal factors, such as leadership styles and company procedures, to external factors like political and economic risks, it is obvious that delicately managing employees, in order to affectively address those functions, is of utmost importance. Explain how internal and external factors affect the four functions of management (planning, organizing, leading, and controlling). Internal factors are factors that affect the workings inside the business like accounting functions, leadership style, management changes, and procedures on how the business operates. Internal factors are important to how you run a business. The basic universal language are the accounting principles. You must understand the function of this to know how to run the business. A company’s leadership style impacts organizational culture. Leaders have to be able to communicate effectively. Also, the strength of the employees is an important internal factor. Hard-working and talented workers produce better results for a business. Procedures deal with how you execute...
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...Organizational Structure Paper Melissa A. Wilkinson XMGT/230 - Managment Theory and Practice June 2, 2013 Elaine McCarty Organizational Structure Paper At Burns & McDonnell engineering, several different organizational charges are used because of the size of the company. For individual projects, functional organizational charts are used to organize employees within that particular project. Functional organization is the departmentalization around specialized activities such as production, marketing, and human resources (Bateman & Snell, 2011). For the Maine Power Reliability Program, in which Burns & McDonnell functions as the Program Manager for this project, a functional organization is used. At the top of the organizational chart, the lead of the entire project, the program manager is at the top. Underneath the program manager is the assistant program manager, who reports directly to the program manager. From there, everyone else is grouped by functional group which the lead or project manager at the top of that functional group. There is one overhead project manager and underneath this position are the assistant project managers and the technical admins. The next group is led by the substation project manager and underneath him are substation assistant project managers and technical admins. The third functional group is procurement. There is a procurement manager and underneath him are the people who have been assigned to procurement and...
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...Human Resource Management Is No More Than ‘Old Wine in New Bottles’. In: Business and Management Human Resource Management Is No More Than ‘Old Wine in New Bottles’. Human resource management is no more than ‘old wine in new bottles’. Discuss. ‘’HRM is regarded by some personnel managers as just a set of initials or old wine in new bottles. It could indeed be no more and no less than another name for PM ’’ ( Armstrong, 1987) First we have to understand the meaning of HRM, but attempts to define HRM precisely have resulted in confusion and contradiction rather than clarity [Price, 1997]. However, according to Storey (1989) Human resource management is a completely different philosophy and an approach contrast to Personnel management. In his view, HRM provides a completely new form of managing personnel and can therefore be regarded as departure from the orthodoxy of traditional personnel management. The normative models of personnel management shows that PM is about selecting, developing, rewarding, and directing employees in such a way that not only will they achieve satisfaction and ‘give of their best’ at work, but by so doing enable the employing organization to achieve its goals. When considering the definition of Human resource management and Personnel management, there are many differences on the perspectives of researchers. Legge (1989) reviewed the definition of a variety of writers. She could come to conclude that there are three features which seems to distinguish HRM...
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...Eric Lee Section 23 Bus 103 Date: 2013/2/22 Temporal. P. (2010). Advance Brand Managment. Singapore: John Wiley &Sons (Asian) Pte.Ltd. Brand managment includes developing a promise, making that promise and maintaining it. It means defining the brand, positioning the brand, and delivering the brand. Brand management is nothing creating and sustaining the brand. Branding makes customers committed to the business. A strong brand differentiates products from the competitors. It gives a quality image to business. Companies’ principle is making profits. So why should we still consider the group of nonprofitable customers? One of the reason we don’t give up on nonprofitable customer segment is customers may turn into profitable after encourage. Remember that marketing is not about making money. Marketing is all about managing the relationship with customers. Branding is about building a image that is remarkable to everyone * CRM is also about looking at customers who may not be big spenders now, but could be if they are encouraged by a really good brand experience. While the economics of foucusing on your most profitable customers are compelling, a good CRM program shouldn’t ignore all the others. Although it makes sense to pay more attention to more-profitable customers, the same CRM principles can apply at all levels. (pp.204) * Sometimes, there is no option but to kill (whether it is done quickly or slowly) or sell off a brand. In other words, the brand manager...
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...MANAGMENT ACCOUNTING Launchbreak LTD 1. Be able to analyse cost information within a business 1.1 classify different types of cost 1.2 use different costing methods 1.3 calculate costs using appropriate techniques 1.4 analyse cost data using appropriate techniques 2. Be able to propose methods to reduce costs and enhance value within a business 2.1 prepare and analyse routine cost reports 2.2 use performance indicators to identify potential improvements 2.3 suggest improvements to reduce costs, enhance value and quality 3. Be able to prepare forecasts budgets for a business 3.1 explain the purpose and nature of the budgeting process 3.2 select appropriate budgeting methods for the organisation and its needs 3.3 prepare budgets according to the chosen budgeting method 3.4 prepare a cash budget 4. Be able to monitor performance against budgets within a business 4.1 calculate variances, identify possible causes and recommend corrective action 4.2 prepare an operating statement reconciling budgeted and actual results 4.3 report findings to management in accordance with identified responsibility centres COMPANY BACKGROUND Launchbreak LTD is a small manufacturing company that makes cakes, which are sold to supermarkets and grocery stores. You work as an accounts manager at Launchbreak LTD, reporting to the general manager. 1.1(a) Managment accounting is one kind of accounting which is designated to provide business leaders...
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...Chapter 1 Overview of the 21st century workplace - Organizations must adapt to rapidly changing society > like in 2003 there was so wireless but now its changing now most of the business rely on wireless communication - Economy is global and driven by innovation and technology > you need new original ideas (innovative) High performing companies gain extraordinary results from people working for them Interdependent, knowledge based > Depend on each other as a part of organization Study question 1 what are the challenges of working in the new economy > intellcutual capital people are the ultimate foundations of orgzanitional performances intellcutual capital is the collective brain power or shared knowledge of a workforce that can be used to create value A knowledge worker adds to Globalization . National boundaries of world business have largely dissappeared . globalizations is the worldwide interdependence of resource flows,product markets and business competition that characterisitv that characterize the new company Technology . Continuing transformation of the modern workplace throughout > the internet (having social network websites to market product) > worldwide web (exchange of stocks) > computers > information technology .Increasing demand for the knowledge workers with the skills to fully utilize technology Diversity: >workforce diversity reflects differences with respect to gender , age, race, ethnicity, religion,sexual orientation...
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...processes, such as order processing or strategic planning. In each case, the companies optimize their activities, either within the functional units or for each process. The main difference is that optimizing one functional unit may harm another function, but optimizing the business processes across organizational lines helps the whole company. Ads by Google It Business Management We Develop Innovative Strategies To Help Meet Your Businesses Goals!maxemusgroupnj.com/IT-Managment Organization Functionally oriented businesses organize in hierarchies, with organizational units responsible for particular functions. Integration of these functions takes place one-level higher in the organization, away from the work that is being done. This leads to good performance on a functional level but poor integration between functions. Companies that are business-process oriented organize differently. They favor structures that allow interaction between functions, such as in matrix organizations. Since the focus is on activities making up a particular process, such companies perform well in achieving targets based on work done. Coordination Coordination between departments of a functionally oriented company is difficult because each function includes many activities. The management of each department must coordinate the output of each activity with the required input in other departments. There is no direct organizational path for such coordination in these companies. Business process-oriented...
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...Talent Management What is talent managment? Talent management is kind of initiative planning that designed to source, attract, recruit, develop, advance, and retain a talented employees. Talent management also has another target which is to develop talented employees leadership and management functions critical to the organization’s success. The core idea of talent management is developing the human resources to attain organization’s strategic objectives. Why an organization does need talent management? The main reason of leaving an organization is “the feeling of detachment” in an employees from the organization’s objective and goal. They beleive that they are not being noticed by the people who actually hold the key of their career development. In many organization, people try to become visible by networking, personal contacts, recommendations. They do not need become extraordinary and talented but are often visible and getting caught by the eyes of top management. This situation makes many talented people inside the organization hide their presence, like a big fishes that love to stay in a deep water. Many talented people join the organization with a dream for achievement, success, and career development. Unfortunately, they realize and experience true culture of the organization, they become frustated and feel neglected. They gradually lose their interest, and become not innovative, and less participative. Through talent management, attention can be given to all employees...
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...There are four functions of managment which are planning, organizing, leading and controlling. Managers use these functions everyday in order to maintain balance within the work place. It is said that the functions must be performed efficiently for the success of ones business. All of these functions together are call the management process. Planning is a important part of management it actually is the first and base part of the process. With planning understanding where the company is trying to go with its goals and depending on how big the manangment is some stategies may get completely changed or modified. The business in which I work has a lot to do with planning ahead of time. You have to know what the consumer is going to be looking for and whats in and whats not. My business is selling Nikes and Jordans in which everyone has there own taste, but planning out the right product to bring in the building is a big deal. My job has plenty of examples of planning that we use like marketing planning, project planning, and sales planning. Organizing happend to be an very good function to a certain person within an organization. To be an effective manager organizing must become an very important role in duty as a manager. As a manager you have to know how to organize not only all your duties such as paper work and cleaning, but also you have to know how to manage the people you have with in your company. With people you have to know their strengths adn weaknesses to...
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...Process Managment Description Process Management includes a myriad of activities: insuring that a product or service is of high quality, choosing the appropriate design and technology for producing a good or service, planning and controlling the flow of materials or customers so that lead times are minimized, and distributing finished goods or services. Relevant decisions range from how much material to order for making a product, to determining how much capacity is needed to provide a good level of service, to evaluating which technology will best meet a company's needs. In short, this course focuses primarily on developing and applying tools and techniques to ensure that the right products and resources are at the right place at the right time so as to maximize profit within a business process or supply chain. The “products” could be either goods, services, or both; and the “resources” could be either material, people, money, information, or any combination of the four. In the first part of this course, we will focus on process design and improvement issues by studying the relationships between key process parameters such as capacity and throughput, and by analyzing processes in order to identify and eliminate bottlenecks. And, in the second part of the course, we will focus on process coordination issues by studying methods for the efficient planning and controlling of critical resources. Specific objectives are: • To describe an operating system or a business process...
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