Functions of Management

Paper Summary:

This paper discusses that, in spite of the changing business environment, these managerial functions constitute the basis for successful management, irrespective of the nature of the business. The author points out that, as a manager of a leading retail chain, her responsibility is to understand the market trends and the business practices of competitors and to devise suitable action plans. The paper states that planning, the process of selecting the course of action towards the fulfillment of the company's objectives, is basic to all managerial functions.

Table of Contents
Introduction
Planning
Organizing
Leading
Controlling
Conclusion

From the Paper:

"Organizing relates to the people within an organization. It is about the appropriate splitting of the enterprise resources by allocating different tasks to different people in such a way as to optimize the available manpower. Only when all the staff work in a coordinated manner it is possible to achieve the management's objective. Organizing the manpower is in effect defining the organizational structure. Though we have clearly defined functions for our staff we also have an open organizational climate wherein any employee can directly report to the supervisor or address his concerns to the manager. There are no frigid business plans and our supervisor continuously encourages the staff and the associates to think upon new ideas that would improve our efficiency."

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