Functions of Management

Paper Summary:

This paper discusses the four dominant functions of management and provides a brief description of each function. The paper relates that each function is critical to the efficient and orderly functioning of any organization.

Outline:
Executive Summary
Planning
Organizing
Leading
Controlling
Summary

From the Paper:

The development of strategic and tactical plans in many industries is an analytical construct that provides insights into how these series of processes tie into strategic planning (Razmi, Jolai, Hezarkhani, 2008). The development of strategic and tactical plans in many companies is also built on the development of innovative new approaches to the product development and market planning including the development of distribution channels. The role of innovation in the context of the planning process is also critical for the development of long-term differentiation as well (Miles, 2007). Strategic planning centers on the development of both existing assets and the Return on Invested Capital (ROIC) that is used as the primary measure of asset utilization in nearly all manufacturing-based corporations. There needs to be however a balance between both existing asset utilization and the development of entirely new processes and approaches to discovering, processing, and selling products. As the industry is inherently process-driven the need for managing to business process re-engineering (BPR) standards is also critical."

Sample of Sources Used:

• Aguirre, Calderone, Jones (2004) -10 Principles of Change Management. Resilience Report, Booz, Allen Hamilton. New York, NY. Accessed from the Internet on March 21, 2008: http://www.strategybusiness.com/resilience/rr00006?pg=all
• Raymond E Miles (2007). Innovation and Leadership Values. California Management Review, 50(1), 192-201. Retrieved March 21, 2008, from ABI/INFORM Global database. (Document ID: 1392087651).
• Jafar Razmi, Fariborz Jolai, Behzad Hezarkhani. (2008). Designing collaborative roles and responsibilities in supply chain. International Journal of Management Practice, 3(1), 96. Retrieved March 21, 2008, from ABI/INFORM Global database. (Document ID: 1401559971).

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