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Sky's the Limit
In: Business and Management
Sky's the Limit
Q1. How do the actions of Burbage and other lock heed managers exemplify the four fundamental functions of management ?
Answer : Managers in all organizations engage in four basic functions. These functions are generally referred to as planning, organizing, leading and controlling.
Planning: Planning is the first managerial function, is the process of determining the organization’s desired future position and deciding how to best to get there. In this case Lockheed martin decided its goal and outlining strategies for achieving those goals .
Example: The goal of Lockheed martin is to design and make 6000 aircraft within 40 years the total value of these is 200 billion dollar . The main strategy of the managers of Lockheed martin was naming Burbage to head the program because he credits his time as a Navy test pilot. Improving relation with BAE and Northrup Grumman as a partner was another important strategy.
Organizing: The second managerial function is organizing--the process of designing job, grouping jobs into manageable units, and establishing patterns of authority among jobs and groups of job. organizational function of The managers and Burbage of Lockheed martin was made the unheard of decision to grant Northrup and BAE a 30 parcent financial and strategic share in the program and by this decision they divide the job as well as establish a patter of authority among themselves.
LLeading: Leading , the third managerial function, is the process of motivation members of the organization to work together toward achieving the organization’s goal. Burbage used extravagant