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Chapter: Principles of Management

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Major functions of management

Management operates through various functions, often classified as planning, organizing, leading/directing, and controlling/monitoring.


Major functions of management

 

Basic functions of management

 

Management operates through various functions, often classified as planning, organizing, leading/directing, and controlling/monitoring.

 

                        Planning:

 

            Deciding 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.

 

                        Organizing:

 

            (Implementation) making optimum use of the resources required to enable the successful carrying out of plans.

 

                        Staffing:

 

            Job Analyzing, recruitment, and hiring individuals for appropriate jobs.

 

                        Leading/directing:

 

            Determining what needs to be done in a situation and getting people to do it.

 

                        Controlling/Monitoring:

 

            checking progress against plans, which may need modification based on feedback.

 

Formation of the business policy

 

                        The mission of the business is its most obvious purpose -- which may be, for example, to make soap.

 

                        The vision of the business reflects its aspirations and specifies its intended direction or future destination.

 

                        The objectives of the business refers to the ends or activity at which a certain task is aimed.

 

                        The 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 all employees.

 

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

 

                        All policies and strategies must be discussed with all managerial personnel and staff.

 

                        Managers must understand where and how they can implement their policies and strategies.

 

                        A plan of action must be devised for each department.

 

                        Policies and strategies must be reviewed regularly.

 

                        Contingency plans must be devised in case the environment changes.

 

                        Assessments of progress ought to be carried out regularly by top-level managers.

 

                        A good environment and team spirit is required within the business.

 

                        The missions, objectives, strengths and weaknesses of each department must be analysed to determine their roles in achieving the business's mission.

 

                        The forecasting method develops a reliable picture of the business's future environment.

 

                        A 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.

 

                        Contingency plans must be developed, just in case.

 

                        All policies must be discussed with all managerial personnel and staff that is required in the execution of any departmental policy.

 

                        Organizational 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.

 

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