Management Essay

MANAGEMENT ESSAY
There are many different fields in the business world. Business Management is the largest
field in the corporate world. It takes responsibility, skill and determination to form a
successful business of any type. There are numerous areas within a business that need the
skills of management. Control of expenses, payroll, time management, and to initially raise
capital to start a business all are areas in which management has to play an important role.
Any businesses main objective is to gain a profit. A profit is the amount of money a business
earns after all of it debts are paid. The field of management is essential to organize the
business in such a way that a profit is made. The business start up is the most important
piece of a long puzzle to establish a successful business. An entrepreneur needs to gain
"smart" money to start his business. "Smart" money is simply capital, and a business needs a
lot of it to survive.
The world of business has undergone radical and dramatic changes in the last decade
changes that present extraordinary challenges for the contemporary manager. A manager is
an organizational member who is responsible for planning, organizing, leading, and
controlling the activities of the organization so that the goals can be achieved. According to
a widely referenced study by Henry Mintzberg, managers serve three primary roles:
interpersonal, informational, and decision-making. Management is process of administrating
and coordinating resources effectively and efficiently in an effort to achieve the goals of the
organization.
The concept of management within an organization typically occurs in an organizational
setting. Organizations compromise a group of individuals who work together toward
common goals. The concept of management within an organization can also be looked upon
as a context as well as a process. Within the process of management there are four major
functions
planning,
organizing,
leading,
and
controlling.
Managers at all levels of the organizational hierarchy must engage in planning. Planning
involves setting goals and defining the actions necessary to achieve those goals. In planning
the top-level manager establishes the overall goals and strategies for the organization.
Every business entity or organization, whether big or small, needs to develop and implement the
basic four management functions. The success of any business organization depends on how
the four functions of management are implemented. These management functions allow an
organization to handle its business strategy, tactical and operational decisions. The aim of this
paper is to discuss the four functions of management namely: Planning, Organizing, Directing
and controlling.
PLANNING
This is the first management function and it is a very important area of all the four functions of
management. This is the core foundation of management from which other management
functions are derived and built. Planning requires the management of an organization to do
thorough evaluation of the current state of the company and where the company will be in
future. It involves setting goals and objectives to be achieved by an organization within a
specified duration .During the planning process, management evaluates both internal and
external factor s that affect the company.
ORGANIZING
This is the second function of management. It requires management to organize all the
available resources in an organization towards the achievement of the set goals and objectives
set during the planning stage. This stage helps management to be able to organize resources in
the best way, organize human resource and other factors within the organization for it to
achieve the set goals. Organizing helps management to determine the internal structure of the
company and the best way in which achieve good results.
DIRECTING
This is the third function of management. Directing helps management to monitor staff and
direct resources to influence the conduct of staff to work towards achieving the goals of the
organization. Directing also assists management to help employees in accomplishing their
career objectives and being part of the organization. Directing needs effective communication
and building of positive interpersonal relationship s between management and staff.
CONTROLLING
This is the last stage of function of management. It includes setting and establishing standards
to be achieved within the organization. It also involves evaluation of results in comparison with
the set standards and incase of any variations, it helps management to come up with the
appropriate measures.

Management Essay

Uploaded by

Copyright:

Available Formats

Management Essay

Uploaded by

Document Information

Original Description:

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Read this document in other languages

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Management Essay

Uploaded by

Copyright:

Available Formats

MANAGEMENT ESSAY

You might also like