...Control Mechanisms University of Phoenix MGT/330 September 29, 2010 Introduction Wal-Mart is undoubtedly the number one seller globally and has accomplished it all in less than 50 years. When Wal-Mart opened in 1962 never did Sam Walton believe that in 2008, his company would be able to bring in sales profits that surpass $100 billion, and that says a great deal for a company to attain that when the country was dealing with a recession. The vision and goal of the company was to ensure that every customer would have the opportunity to find a place that would offer fair priced worth products to all consumers and equality shown to customers as well. That vision continues as of today while Wal-Mart guarantees that they will counterpart any competitor’s price. Not only does Wal-Mart have more than 650,000 people on staff they also manage more than 2,900 stores internationally as well. Besides the customary Wal-Mart, there is also the Super Wal-Mart that sells food and beverage goods as well as house commodities and automotive products and a section that includes a pharmacy inside too. All together that makes Wal-Mart a one stop shopping experience. The next branch of the Wal-Mart family is the Wal-Mart neighborhood grocery stores. These stores center their attention on food, beverage, and pharmacy goods period. These particular stores are smaller but they do include all the aspects of a customary grocery store. Last the Wal-Mart family also...
Words: 2136 - Pages: 9
...Difference between Management and Leadership Management: Theory, Practice, And Application MGT/330 Difference between Management and Leadership Paper A leader is a person that influences another to willingly work toward a predetermined objective (Bateman, 2005). Leaders are people that have the ability to influence other people to freely do work to accomplish their goals or company goals. People that lead others to achieve their objective are positive, creative, and energetic people. At times managers can be great leaders; however, that is not always the case. People tend to think that managers are good leaders but to be a leader someone does not have to be in a management position. The difference between a leader and a manager is that a leader is someone that freely influences others to perform better; a manager is someone that manages a group of people because that is his or her job. A key difference between a leader and a manager is that leaders bring about transformational change, while managers manage the position (Scott, 2005). Being a leader is something that is personal and no body tells you to do it or puts you in that position, people are leaders because they want to be leaders. To become an effective and a better manager, a person in a management position should be a leader. Someone is usually born being a leader; however, at times people can become great effective leaders. A person does not necessarily need to be a leader in a...
Words: 1244 - Pages: 5
...TYCO PLANNING TYCO International Ltd. is a leading provider of electronic security products and service, fire protection and detection products and services, and valves and controls. TYCO is also a globalized (in more than 60 countries) and very diverse company, which requires great management to operate efficiently. Of the four main functions of management, planning is the function that comes first and is needed to lay out the foundation and goals a company will pursue. TYCO’s mission statement states, "We will increase the value of our company and our global portfolio of diversified brands by exceeding customers' expectations and achieving market leadership and operating excellence in every segment of our company" (Tyco, 2004). Some of TYCO’s goals include: governance, customers, growth, teamwork, culture, operational excellence, and finance strength and flexibility, and the best way for them to achieve these type goals is through management. They must define strategic, operational, tactical, and contingency plans to serve the organization in the best way possible. While doing this management must also keep in mind the legal, ethical, and social responsibility influences there are on that organization. TYCO management of all four divisions of TYCO should keep in mind all of these factors. Strategic Planning Strategic planning usually involves decisions regarding the long term goals of an organization, and is predominately handled by upper management. Strategic goals...
Words: 1300 - Pages: 6
...The Organization of Wal-Mart The Organization of Wal-Mart Each company carries an individual organization structure which is an official composition of tasks, control, to coordinate and motivate the employees to achieve the established goal of the organization. Wal-Mart may not produce accurate products but seems that is not what attracts the consumers; it is the lower prices that that are geared to the culture foundation that bring in the high traffic. Management vs. Leadership A Healthy Organization Globalization across the Boarders In 2010 Wal-Mart decentralized themselves to create the fundamentals of which they operate by consistently looking for new ways of being efficient in operating for less in order to sell less. Near 300 positions were taken of duplication within the corporate support team located in Northwest Arkansas, resulting in cost reduction in order to make the shift of operating closer to their units and customers. Wal-Mart also created a University to where each new employee is registered and lead thru a simulation program where they are the customer. Sam Walton the founder of Wal-Mart wanted the orientation for employees to be a welcome mat to the working family, where they would share the common goal of growth, success and values. As the company expanded into 3 different regions, Wal-Mart North, West and South it becomes of core competences to organize to the different regional customers. The geographical divisional structure documents...
Words: 427 - Pages: 2
...| Course Syllabus School of Business MGT/330 Version 7 Management Theory, Practice, and Application | Copyright © 2011, 2009, 2008, 2006, 2004 by University of Phoenix. All rights reserved. Course Description This course explores the rich field of management in theory and practice, and as both a science and an art. The course also addresses the role of managers in the current world of rapid change, increased competitive forces, and increased expectations for the successful performance of employees and organizations. The focus is on some of the ways and means of achieving desired goals. The student will leave this course with a solid background in the nature and work of management and managers. Applications of concepts to current workplace issues will be stressed. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: University policies: You must be logged into the student website to view this document. Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Bateman, T. S., & Snell, S. A. (2011). Management: Leading & collaborating...
Words: 1847 - Pages: 8
...Introduction Change is occurring surrounding us. From an authoritative angle, a portion of the progressions being actualized will be fruitful; others will fizzle. Truth be told, and authoritative change is just fruitful 25 to 35 percent of the time. Change administration can take numerous structures. It can include a straightforward strategy change, a procedural change, a staff move, an authoritative change, or anything subject to transform from a former state. To minimize imperviousness to a change, the individuals who will be specifically or by implication affected by it ought to be included in the change process. The methodology used to execute the change is pretty much as critical as the change itself. Various variables can influence the achievement or disappointment of a change. This article concentrates on how fire administration legislative issues and morals can influence change administration. Despite rank or number of years in the blaze administration, you sooner or later will be a piece of a change. The role of leadership, culture, and inside politics in the implementation of change in the organization The political process in the organization can be seen as a twofold procedure. The primary procedure is the "dramatic" political methodology, the one utilized as a part of the front of individuals at open gatherings. The second process is the "backstage" execution in which the individual uses political methodologies and strategies that are not straightforward to the...
Words: 1714 - Pages: 7
...Management Planning The organization that I chose to evaluate the planning functions of management is Boeing. In this paper I will try to analyze the influence that legal issues, ethics, and corporate social responsibility have had on management planning and analyze at least three factors that influence the company’s strategic, tactical, operational, and contingency planning. I will try to provide examples for each of the analyzed factors. The Boeing Company has been the leading manufacturer of commercial airplanes. For over forty years, Boeing can account for about seventy-five percent of the airplanes that are produced today. Boeing supplies products and supplies to over 150 countries. It is also one of the largest United States exporters in sales of products. Boeing has more than 169,000 employees across the United States and in about 65 countries. The Boeing Company has two major businesses; the first is the Boeing Commercial Airplanes and the second being the Boeing Defense, Space and Security. Along with the support of the rest of the departments such as the Boeing Capital Corporation, this department of Boeing deals with the all-around global financial solution; Shared Services Group, which is the catch all department; Boeing Engineering, Operations & Technology which deals with all the innovating technologies. There are many legal issues that influence the Boeing Company Management because they are such a big corporation. One of the biggest issues is that the planes...
Words: 517 - Pages: 3
...Prepare a 700- to 1,050-word paper in which you define the four functions of management (planning, organizing, leading, and controlling). In your paper, include an explanation of how each function relates to your own organization. Management, can be described as the successful operation of a company or business.Or in other words is the can be simply described as the implementation of processes and procedures in order to solve problems in a productive and resourceful manner. This process can be carried out by means of what are commonly designated as the utilities or functions of management. The four common functions are: planning, organizing, leading and controlling which have the projected outcome of making use of any businesses available assets and resources in such a way that its mission statement and goals can be acceptably accomplished. The first and possibly most important step of managing an organization or business is the planning step. This function of management involves predicting the potential course the organization will be directed toward in upcoming months and years and coordinating specific routes that need to be followed in order to reach the businesses full potential. Planning is a methodical activity that establishes who will carry out a specific job, when that job or task needs to be performed and the manner in which it should be carried out. The planning phase of business management is a comprehensive program that concerns impending plans for specific...
Words: 1066 - Pages: 5
...MGT/330 Week 5 – Group Paper Control Mechanisms Paper Explain how these controls affect the four functions of management. The four functions of management at General Motors which are to plan, organize, direct and control are affected by budgetary, feedback, financial and market controls. General Motors is depending more on the control mechanisms now, more than ever. Since falling into bankruptcy, General Motors is using budgetary control now as a means of planning and control. W.A. Paton describes the budget as “any statement or report which shows the estimated data of either the course or results of a program or plan of operation. (W.A. Paton. 1932) General Motors uses budgetary control in long-term and short-term management planning. The new Chief Financial Officer, Chris Leddell, has stated that General Motors has lost billions of dollars in the last year. With that being said Mr. Leddell is very optimistic that General Motors will rebound from bankruptcy and will more than likely be able to show a profit for 2010. The organizational management function is utilizing a now weak financial control and they know they have a long road ahead. General Motors management team uses feedback controls to help allocate resources and track funds versus production and sales. These control mechanisms affect General Motors management functions by providing an instant indicator, preventing a lagging indicator. References Jstor.(2010). General Motors Budgetary Control...
Words: 251 - Pages: 2
...Course Syllabus Please print a copy of this syllabus for handy reference. Whenever there is a question about what assignments are due, please remember this syllabus is the ruling document. | | | |Course Number: | MGT 330 - ID: BSAC13XG64 | |Course Title: |Management: Theory, Practices, and Application | |Course Schedule: |Start Date: July 3, 2012 -- End Date: August 8, 2012 | | | | |Where To Go To Class: |MAIN: This is the forum for all course-related discussions. All of your participation grade will come from | |Your Course Forums |your activities in this room. It has read-and-write access for everyone. | | | | | |CHAT ROOM: This is a read-and-write access Forum. This is your student lounge. It is a place to discuss | | |issues not related to the course...
Words: 3546 - Pages: 15
...Planning is the first fundamental role of management. Planning is basically identifying goals and objectives and outlining the plan of action to accomplish them. Good planning must occur at all levels of organizations in order for a company to succeed. The goals and objective vary in great degree depending on the level of management and therefore the planning also varies. At my company, bank of America, my mangers planning concentrates on the locals goals and objectives of my branch whereas as the planning of the CEO concentrates on the company as a whole. The planning of the CEO and my manager are completely different yet, they both must ultimately put plans in action that benefit the company and guarantee to he success of the firm. A good plan not only outlines the action to be take to reach a goal, but it also establishes the steps to be taken in case of unforeseen problems or step backs. A good manager must also plan for the unexpected. Organizing is the second fundamental role of management. In order to achieve the goals set forth in the planning stage as mentioned above, management must properly organize the necessary resources that will allow it to accomplish the goals. The resources needed are many and will also depend of the level of management, but in general they can be classified in terms of human (employees), financial (loans, payments, accounting, regulatory), physical (building, material, goods), tactical (planning, resources, information, strategies), etc...
Words: 723 - Pages: 3
...Functions of Management Tekeshia Gresham MGT/330 Mr. Dennis Stroud March 31st, 2012 Functions of Management Managers like PepsiCo’s Indra Nooyi must practice the art of getting things done through organizational resources, which include workers, financial resources, information, equipment, planning, organizing, leading, and controlling, (Hall, 2009). Managers were called bosses and his or her job consisted of telling people what to do, watching over them to be sure they did it, and reprimanding those who did not. Today, however, some managers tend to be more progressive. For example, they emphasize teams and team building; managers create drop-in centers, team spaces, and open work areas. Managers changed the definition of “work” from “a task you do for specified period in a specific place” to “something you do anywhere, anytime.” Managers tend to guide, train, support, motivate, and coach employees rather than tell them what to do. What do these changes mean? What the changes mean is that management will demand a new kind of person: a skilled communicator and a team player as well as a planner, organizer, motivator, and leader. One of the major objectives of organizations is to please customers. The trend today is to have planning teams to help monitor the environment, find business opportunities, and watch for challenges. The key function of management is planning because accomplishing the other functions depends heavily on having a good plan....
Words: 982 - Pages: 4
...MGT/330 Weekly Overview Week One: Overview of the Functions of Management THE FOUR FUNCTIONS OF MANAGEMENT Planning is designating the goals to be accomplished and determine the correct actions to achieve those goals. The planning activity includes analyzing current situations, anticipating what about to happen, deciding the most effective activities the company will use, choosing corporate and business strategies, and determining the supplies needed to accomplish the company’s goals. Planning set the stage for action, and for higher achievements. Historically, planning described a top-down approach in which top executives establish business plans and tell others to implement them. (Chapter 1: Managing) Organizing is constructing an active organization, setting up and coordinating the human, physical, financial, informational, and other advantages needed to reach goals. Organizing exhibitions involve drawing attention to people to an organization, specifying job restraints, minimizing work into units, placing and assigning resources, and setting conditions so that everyone and everything work in sync to achieve maximum success. In determining the internal structure, management must look at the different divisions or departments, the coordination of staff, and what is the best way to handle the necessary tasks and disbursement of information within the company. Management will then divide up the work that needs to be done, determine appropriate departments...
Words: 933 - Pages: 4
...The importance and benefits of critical thinking in the decision-making processes Critical Thinking: Strategies in decision making MGT/ 330 Critical thinking is the intellectually disciplined process of actively and skillfully conceptualizing, applying, analyzing, synthesizing, and/or evaluating information gathered from, or generated by, observation, experience, reflection, reasoning, or communication, as a guide to belief and action. In its exemplary form, it is based on universal intellectual values that transcend subject matter divisions: clarity, accuracy, precision, consistency, relevance, sound evidence, good reasons, depth, breadth, and fairness. It entails the examination of those structures or elements of thought implicit in all reasoning: purpose, problem, or question-at-issue, assumptions, concepts, empirical grounding; reasoning leading to conclusions, implications and consequences, objections from alternative viewpoints, and frame of reference. Critical thinking - in being responsive to variable subject matter, issues, and purposes – is incorporated in a family of interwoven modes of thinking, among them: scientific thinking, mathematical thinking, historical thinking, anthropological thinking, economic thinking, moral thinking, and philosophical thinking. http://www.criticalthinking.org/aboutCT/definingCT.cfm. Scriven M; Paul R: A working definition of critical thinking. One may asked, why is critical thinking important? I believe that Critical...
Words: 1074 - Pages: 5
...The five functions of management Shabrekia Andrews MGT 330 Management for Organizations Instructor: David Gibbons March 10, 2014 The five management functions include the following: planning, leading, organizing, staffing, and controlling. Implementing these five functions are essential to running a successful business. Being in the military, I have found that these five functions are necessary to complete the designated tasks at hand. My current employer is GA Mates/RESET located on base of Fort Stewart Georgia. Basically what we do is take the equipment of units coming back from deployment and fixed them. At one point we had so many pieces that organization was and still is a necessity. The five functions are necessary to keep the process running smoothly because there are so many moving pieces. At my current employer, my superiors set the standards and we abide by them. Throughout my essay, I will be discussing how the five management functions are important and applied to our daily duties. Knowing my job and what I have to do is a key factor in making sure things are going the way they should be going. My title at GA RESET is data entry clerk/technician. What I do is take those pieces of equipment, inventory them, cut jobs for them to be worked on, update the progress, close out the job, and keep record of the pieces coming in and out of the shop. Each section, in our place of employment, is responsible for implementing the five functions. Planning “Managers use...
Words: 765 - Pages: 4
