Major functions of management
Basic functions of management
operates through various functions, often classified as planning, organizing,
leading/directing, and controlling/monitoring.
what needs to happen in the future (today, next week, next month, next year, over
the next 5 years, etc.) and generating plans for action.
making optimum use of the resources required to enable the successful carrying
out of plans.
Analyzing, recruitment, and hiring individuals for appropriate jobs.
what needs to be done in a situation and getting people to do it.
progress against plans, which may need modification based on feedback.
Formation of the business policy
mission of the business is its most
obvious purpose -- which may be, for example, to make soap.
vision of the business reflects its
aspirations and specifies its intended direction or future destination.
objectives of the business refers to
the ends or activity at which a certain task is aimed.
business's policy is a guide that
stipulates rules, regulations and objectives, and may be used in the managers'
decision-making. It must be flexible and easily interpreted and understood by
The business's strategy
refers to the coordinated plan of action that it is going to take, as well as
the resources that it will use, to realize its vision and long-term objectives.
It is a guideline to managers, stipulating how they ought to allocate and
utilize the factors of production to the business's advantage. Initially, it
could help the managers decide on what type of business they want to form.
How to implement policies and strategies
policies and strategies must be discussed with all managerial personnel and
must understand where and how they can implement their policies and strategies.
plan of action must be devised for each department.
and strategies must be reviewed regularly.
plans must be devised in case the environment changes.
of progress ought to be carried out regularly by top-level managers.
good environment and team spirit is required within the business.
missions, objectives, strengths and weaknesses of each department must be
analysed to determine their roles in achieving the business's mission.
forecasting method develops a
reliable picture of the business's future environment.
planning unit must be created to
ensure that all plans are consistent and that policies and strategies are aimed
at achieving the same mission and objectives.
plans must be developed, just in case.
policies must be discussed with all managerial personnel and staff that is
required in the execution of any departmental policy.
change is strategically achieved through the implementation of the eight-step
plan of action established by John P. Kotter: Increase urgency, get the vision
right, communicate the buy-in, empower action, create short-term wins, don't
let up, and make change stick.