...The Five Functions of Management MGT330: Management for Organizations Management function is an integral part of any organization. This paper will describe each of the five functions as they pertain to my past work experiences. Management discipline consists of five specific functions: planning, organizing, staffing, leading and controlling Reilly, M., Minnick, C., & Baack, D. (2011). I was in the Navy for 20 years and have had a lot of experiences with different types of management, some good and some bad. The first function I will describe is planning. Planning is a systematic process in which managers make decisions about future activities and the key goals that the organization intends to pursue Reilly, M., Minnick, C., & Baack, D. (2011). My experience in the Navy concerning the planning function was extensive. I was able to see the planning stages from every angle throughout the process, from the lowest man on the totem pole to the person developing and executing the plans. My last duty station in the Navy was as an instructor and we had to do a comprehensive curriculum review and change the whole curriculum. During the planning stages we had to determine what our strengths and weaknesses were as it pertained to the content, subjects and personnel that were to be delivering the instruction. The entire planning stage took approximately 6 months to complete and it was extremely daunting. The goals we had set for the curriculum change were attainable because...
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...Functions of Management Carlisa Malone MGT/330 July 13, 2011 Karen Abron Abstract Organizing a business is accumulating and synchronizing the social, fiscal, physical, knowledge, and other assets needed to accomplish all goals in an organization. Establishing events include enticing the general public to the business, identifying occupation duties, combining duties into work groups, clarifying and divide up resources, and producing an environment so that associates and objects works together at the same time to accomplish greatest extent success. Supervisors are in every occupation. In fact, supervisors preform the same duties in every business. Whether it is the manager at a beauty salon or an industrial job the duties are and will always remain the same task. Planning, organizing, leading and controlling will serve a vital role in accomplishing a supervisor’s vision on how a business should be managed. Each element is essential and without each element business will not functions well without all four elements (warish, 2009). This paper will discuss all four function of management, and how they are preform in a business and how they relate to our own business. Planning Planning is a supervising task of steadily making decisions to accomplish a goal or to achieve a task within an organization that a person, or a group, or a company will pursue. Identifying the objectives to...
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...reaching the destined position just as to receive far better growth and progression. There stays a great necessity to perform the business practices in a likely way. With the help of management practices, the employees can be brought to work together and also to make best possible use of available resources. Management practices guides and directs the organization to move on a right and proper path. The management practices of planning, leading, organizing, staffing and controlling are being implemented at the workplace just as to derive far better results. All of these five management functions are said to be worthwhile enough in realization of the set goals and objectives. Planning as the initial process involves forming the mission, vision and objectives and detailing the way through which they are attained. In organizing, internal structure within the company is being set up. At this function, tasks can be segregated, coordinated and controlled. Moreover, the tasks are being distributed by the managers to the jobholders or the employees. In staffing, trained and proficient people are being employed that could meet the set targets (Armstrong, 2012). Hiring process is followed by training of the recruits. Moreover, proper payments should also be made to the employees for their work. In leading section, the leadership guidance and counseling is being provided to the employees so as to handle the tasks in an appropriate manner. In addition to this, group dynamics and motivation...
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...2014). The human resource department is investigating one of the current regional manager’s performances. Reports have indicated that the regional manager is underperforming. Underperforming employee’s need to be addressed and handled by the organisation. Detailing several issues will help realign the employee with the organisations goals. The issues being addressed will actively engage and offer recommendations in assisting the regional store manager to effectively perform to the organisations standards. This will consist of the organisations best practice and which features will actively engage in the employees’ performance management. Applying the organization's human resource development (HRD) functions and how they will integrate with the organization's performance management function will provide a stronger management connection with our regional manager....
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...Banking & Finance Banking Fields Asset Management * manage investments for private funds, individuals and organizations. * Through investments in stocks, bonds, foreign exchange, property * Comprises of 2 functions – Investments and Sales & Distribution Corporate Finance * Delivers the strategic advice and financial products that help large corporate clients build their businesses and grow their shareholder value * Comprises of 2 functions – Client Teams & Product Teams Sales & Trading * Buy and sell products. These might be: financial products (e.g. stocks, bonds), foreign exchange, commodities (e.g. oil or natural gas). * Comprises of the following roles: Sales, Trading, Research, Structuring Wealth Mangement * managing people’s wealth. * Making their assets work hard calls for in-depth knowledge of financial markets and investment opportunities, plus the ability to nurture very good relationships with the high-net-worth (HNW) individuals in question. * Discretionary or non-discretionary Finance Fields Private Equity PE firms will typically acquire 100% of the target company and make use of a combination of cash and debt to finance the acquisition. The advantage of using debt is that the firm has to invest less of its own cash, and therefore the return on equity is higher and they can undertake bigger / more investments. When the target company is acquired, the future cash flows are used to pay off...
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...Source Is considered as the function responsibly to acquire all items or materials needed by an organization Is part of procurement in charge of buying all items and material for an organization, often it is use as synonym of procurement. Wile.com (n. d.) Glossary of Inventory Management Terms It is a business function responsibly for several activities such as planning, purchasing, inventory control, traffic, receiving, incoming inspection, and rescue operations. It could be seen as a synonym of purchasing. It Is the function specifically associated with buying the goods and services required by the organization. SUPPLY CHAIN and LOGISTICS TERMS and GLOSSARY logisticsservicelocator.com (2006) Often could be understood as purchasing however procurement is the totality of acquisition starting from the identification or a requirement to the disposal of that requirement at the end of its life. Its functions may include pre contract activities supplier relationship and sourcing but it does not include logistic functions, such as storage, or transport. Could be used as the same meaning of procurement but it refers specifically to acquire goods, work or services, from suppliers. It is a component function of Procurement that is wider concept. Its function may include ordering, expediting, receipt and payment. The Chartered Institute of Purchasing & Supply (n. d) In the public sector it can be seen as function responsible of the acquisition...
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...Control.gov). Whether is it working during the presidential inauguration, Olympics, or monitoring the next pandemic outbreak the CDC is well trained and diverse in their respective field to handle such events. Their planning, training, and evaluation process have proven to be useful in the emergency operations framework around the globe. The EOC should be organized into five significant functions. They are a command, operations, planning, logistics, and finance/administration. All of the processes and functions put into place allows for the CDC EOC to respond to an emergency at any given time. The CDC states that the first 48 hours of a break out is most critical in stopping a disease outbreak, and to prevent deaths and injuries. Obviously, the CDC EOC runs a very well organized program (CDC.gov). One of the very finest in the world. The organization has a well-defined chain of command and structured to keep the agency as effective as possible. This is all possible with the right functions and tools in place to keep everyone informed. One such tool that is utilized by the CDC is an Incident Mangement System (IMS). It is the tool of choice to provide the EOC’s around the world. As the CDC notes, it is a rooted structure to withstand natural disasters, disease outbreaks, or any hazard (CDC.gov). All of the nations EOC’s follow this framework to communicate out the information that has been captured for their respective cities. Although not all EOC’s are the same, they run the same model...
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...A Crew Member's View of Arby's, Inc. by Tavis X. Crayk In this paper I will be discussing my current employer, Arby's restaurant chain. I will cover a brief history of the company including its current business enivornment, the management structure, the operational and financial issues that I see as an employee of the company, and finally any potential changes that I see in Arby's future. As the low man on the totem pole of this fast food chain, I believe I have a unique perspective of the company. The goal of this paper is to provide that view to the reader. A subsidiary of Triarc Companies, Inc., Arby's Inc. is a leading global fast-food restaurant chain with more than 3,400 restaurants worldwide. Arby's is seperated in the fast-food industry by its menu, which features roast beef sandwiches. The chain expanded rapidly during the 1970s and 1980s by franchising. In 2014 the Arby's chain celebrated its 50th anniversary, and its corporate website currently boasts over $3 billion in system wide sales. Arby's brand originated from the brainstorm of brothers Leroy and Forrest Raffel. The Raffels operated a food-service equipment business in Youngstown, Ohio, in the early 1960s, and noticed the boom taking place in the fast-food industry. It had been only about ten years since Ray Kroc had purchased the national rights to franchise the McDonald hamburger operation, and Burger King was already jumping into the franchising game using a similar version of the...
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...rapid growth of population people lacks money because they spend too much above their monthly income. Some people do have own reason to apply for a loan such as opening their own business in order to have a stable livelihood. In some other cases they applied a loan in order to pay other debts to other people. Moreover spending money is a very crucial part of human existence. III. Objectives The main objective of this research is to develop an Asialink Loan Mangement System in Calbayog City * To provide services through web applications. * To monitor each client’s status on a centralized system. * To promote the business popularity. * To promote accessible services to user. IV. Implementation In this phase we will try to add new data to the system. After that we will now update that we will update the users status. In order for the researcher to evaluate its performance evaluation. A.)SOFTWARE REQUIREMENTS: NAME | FUNCTION | Windows xp, Windows 7 | It is the operation system of the Computer unit. | Microsoft visual studio 2010 | It is use...
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...University of Phoenix MGT 230 Rafael Mendoza 11/28/2012 A company’s organizational structure can determine how effective its management department will be in implementing and executing company decisions. Without a great structure the company may lose its finances, by being inefficient. With that in mind, a company’s organizational structure is geared towards making the company more efficient and successful. UPS like all major organizations has to keep their organizational structure with the times in order to stay productive and successful. I will explore the organizational structure implemented by UPS, and compare it to two other structures. I will evaluate how organizational functions influence UPS’s Organizational structure. Lastly, I will explain how organizational design can help determine which structure is best suited for UPS. After exploring these factors of UPS as an organization, I am sure you will have a deep understanding of why organizational structures are crucial to a company’s success. UPS is a large global operation that was started by two young friends that wanted to start a messenger service. Things have definitely changed since the company started in 1907. UPS has had to change its organizational structure over time because of the rapid growth in technology and employees. Today UPS implements a centralized organizational structure. In this structure UPS has implemented a centralized management committee, the committee makes all major decisions...
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...Masters Programmes ------------------------------------------------- Assignment Cover Sheet Question: [Analyze a strategic issue facing Samsung Electronics Company] “This is to certify that the work I am submitting is my own. All external references and sources are clearly acknowledged and identified within the contents. I am aware of the University of Warwick regulation concerning plagiarism and collusion. No substantial part(s) of the work submitted here has also been submitted by me in other assessments for accredited courses of study, and I acknowledge that if this has been done an appropriate reduction in the mark I might otherwise have received will be made.” Introduction Samsung Electronics Company (SEC), Ltd founded in 1969 is a South Korean multinational electronics company and is the flagship subsidiary of the Samsung Group, accounting for 70% of the group's revenue. Since the introduction of monochrome television sets in 1971, it has grown on average 38 percent a year, broadening its product range from simple consumer electronics and home appliances to advanced information and communication equipment, computers and peripherals and semiconductors (Renee, 2007) . It is currently the world's largest manufacturer of mobile and smart phones, LCD Panels and televisions and displaced Apple Inc. as the largest technology company in 2011 (Renee, 2007). Industry boundary Samsung electronics has the following divisions * Consumer electronics (CE)...
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...Fundamentals of Information Systems and Security Chapter 4 Information Security and Business Drivers Project Management Body of Knowledge (PMBOK) A collection of the knowledge and best practices of the project management profession. Project Mangement Institute (PMI) A nonprofit international organization of project managers that promotes the field of project management. Risk Methodology A description of how you will manage overall risk. It includes the approach, required information, and techniques to address each risk. Risk Register A list of identified risks that results from the risk-identification process. Delphi method An information and opinon collection method that empoloys formal anonymous surveys in multiple rounds. Qualitative Risk Analysis A risk analysis method that uses mathematical formulas and numbers to assist in ranking risk severity. Risk Impact- High Very Likely to occur, Average Neither frequent nor rare, Low not very likely to occur, Critical- High Impact requires immediate response, Major- medium impact requires prioritized response, Minor- negligible impact requires an analysis to assess if a response is needed. Quantitative Risk Analysis uses mathematical formulas and numbers to rank risk severity. Exposure Factor (EF) The proportion of value of a particular asset is likely to be destroyed by a given risk, expressed as a percentage. Single loss expectancy (SLE) the loss for a single threat occurence. Annual Rate of occurance(ARO) The estimated...
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...PRG/211 ALGORITHMS AND LOGIC FOR COMPUTER PROGRAMMING 06/30/2013 Abstract: “To solve the problem of time-cost tradeoff in project management with available models, a choice must be made between heuristic approaches and algorithms based upon restrictive assumptions about the shape of the cost-time functions of the activities. The algorithm presented in this article involves a dynamic-programming approach to determine the allocation which minimizes the duration of the project (critical path). The main advantage of this model is its ability to determine the optimum allocation among activities with arbitrary cost-time functions. Also, computational shortcuts for functions with special properties can be used to increase the efficiency of the model” (Don Robinson 158-166). Programming solutions . Developers who program for any project has multiple requirements to be met. The key is understanding the problem to be familiar with the business. A visionary understanding the management of the business. Then a visual plan must be drawn with a step by step process to understand the goals of the company. It is easy to do this if you are the owner of the company and it is difficult to bring it to the IT/developer of the company. I have experienced this personally via my small business even though I tried desperately to bring my ideas, there was always a gap bringing the need and the vision. IF we discuss the need, we had to set multiple meetings where the developer had researched the...
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...within the claims and resources. The manager’s most important challenge is to solving problems strategically. As to the development of a variety of academic disciplines, and to aid managers to responding to the challenge of developed problem solving, principles of management are categorized into a system of functions that are summarized as planning, organizing, leading, and controlling. * Planning is the function of which the management that includes setting goals and determines the course of action to achieving these goals. Planning requires that managers be good decision makers and it requires them to be aware of environmental conditions that the organization is facing as well as forecast future conditions. Strategic planning includes competitive threats and opportunities, along with the weaknesses and strengths within the facility. Tactical planning is the intermediate planning that is developed to design relatively specific and concrete ways to implementing the strategic plan. Operational planning usually thinks of the existence of organizations subunit or wide objectives and goals as well as the certain ways to achieving them. * Organizing is the function that management involves of developing an...
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...Functions of Management Milton Jones MGT 330 August 9, 2011 Yvonne Jordan Four Functions of Management The essential responsibility to any business lies in the hands of their managers. How these managers provide the planning, organizing, leading and controlling, reflects on the success of reaching company goals and continuing to maintain competitive advantage. Maintaining these four functions requires managers to form groups of employees who will help to complete each plan successfully. According to (Bateman, & Snell, 2007), “In the business world today, the great executives not only adapt to changing conditions but also apply—fanatically, rigorously, consistently, and with discipline—the fundamental management principles. These fundamentals include the four traditional functions of management: planning, organizing, leading, and controlling. They remain as relevant as ever, and they still provide the fundamentals that are needed in start-ups as much as in established corporations. But their form has evolved.” Planning The very first function in the management process is known as planning. Basically, the determination of success or failure for any manager lies within each manager’s planning procedure. According to (Bateman, & Snell, 2007), “Planning is specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve those goals. Planning activities include analyzing current situations, anticipating the future, determining objectives...
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