5 pages/≈1375 words
Business & Marketing
Functions of Management (Research Paper Sample)
Must be written in 3rd person Must pass plagiarism checker software A minimum of 5 different references must be used. Three of these references must be from peer-reviewed professional journals or books and must be from the past 3 years. The remaining references must be obtained from professional journals. Title page is not numbered. All other pages are numbered using Arabic numbering. Double spaced, 1" margins. source..
Functions of Management
Management is bringing people together in order to achieve desired goals and objectives. These goals and, objectives are achieved through the effective and, efficient use of available resources. The resources are deployed to needed areas using optimal allocation strategies to eliminate any wastage. The main resources available for allocation are human, financial, technological and, natural resources. The management function will involve duties of organizing and coordinating various logistics that come up in the deployment of the mentioned resources. The management teams must formulate policies and, guidelines to help in decision making. The guidelines will direct the performance of duties by all. These policies and guidelines are formulated in line with organizations goals and, objectives.
Functions of Management
Management plays important roles in any organization. The success or failure of any entity rests solely on how it is managed. The following are some of the functions of management:
This is the most important role played by management in any organization. It involves formulating the course of action for achieving predetermined goals. It requires managers to decide in advance on what should be done, when it should be done and, how it should be done. The managers must prepare a plan to guide the performance of activities (Daniel, 2012). Planning is a very important tool in an organization since it enables the optimal allocation of all the resources. Each resource is directed to its right place at the right time. The resources are thus utilized fully. It leads to elimination of any uncertainty or confusion in the workplace. Planning also reduces the risk levels in conducting the activities of a business. This leads to increased productivity and, achievement of set goals and, objectives. There must be clear goals and, objectives that will guide on activities to be performed and, where efforts should be directed. Most of the objectives should be stated in clear terms. The language should be clear with no chances of ambiguity. The management should also decide on the planning premise. This is the future prediction of how events will be. The planning premises could be both internal and, external. Internal planning premises can be altered. They mainly include management policies, labor relations and investment policies. External planning premises are outside the scope of the organization and, they cannot control them. These include political events, economic changes and, social cultural changes.
Management also ensures that resources being used for productive purposes are brought together. Resources both financial and, non financial must be combined to bring forth required results. This involves identification of the activities that the organization will engage in. The activities will lead to the attai...
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