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March 24, 2016 | Author: | Posted in social sciences, sociology


We are looking at management ‘s responsibility as to how it will maximize profits by operating the business in the best interest of the stock holders . But before we go further let ‘s get a broad context about what management is all about . Traditionally , the term “management ” refers to the activities (and often the group of people ) involved in the four general functions : planning , organizing , leading and coordinating of resources . Note that the four functions recur throughout the organization and are highly integrated . Emerging trends in management include assertions that [banner_entry_middle]

leading is different than managing , and that the nature of how the four functions are carried out must change to accommodate a “new paradigm ” in management . This in the library helps the reader accomplish broad understanding of management (including traditional and emerging views , and the areas of knowledge and skills required to carry out the major functions of management . The management of any company is very crucial and important to maximizing the profit of any company . The management of the company actually determines the profit making of any business and that means that if a company is not making profits especially as it concerns its stock holders then that problem can only be solved only within the caprices of the management of that company

Let ‘s look at some basic management functions

Management In Management Excel , we start with an assumption of the universality of management . Management is management . Management is generic . Management principles are general rather than specific to a type of firm or organization . However , management is universal only if the manager has become familiar with the specific situation in which it is applied . Production technology , customer characteristics and the culture of the industry are examples of specifics that managers need to learn to be effective in applying their generic management skills Management is creative problem solving . This creative problem solving is accomplished through four functions of management : planning , organizing leading and controlling . The intended result is the use of an organization ‘s resources in a way that accomplishes its mission and objectives (Figure 1 .1 , From Higgins , page 7 ) In Management Excel , this standard definition is modified to align more closely with our teaching objectives and to communicate more clearly the content of the organizing function . Organizing is divided into organizing and staffing so that the importance of staffing in small businesses receives emphasis along side organizing . In the management literature , directing and leading are used interchangeably (Note figure of Management Excel wheel ) Planning is the ongoing process of developing the business ‘ mission and objectives and determining how they will be accomplished . Planning includes both the broadest view of the organization , e .g , its mission , and the narrowest e .g , a tactic for accomplishing a specific goal

Organization is establishing the internal organizational structure of the organization . The focus is on division , coordination , and control of tasks and the flow of information within the organization . It is in this function that managers distribute authority to… [banner_entry_footer]

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