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functions of management
The essay envisages to look into the various funcations of management. The five major functions of manageamenet are clearly elaborated.
|language || ||english
|wordcount || ||10704 (cca 30 pages)
|contextual quality || ||N/A
|language level || ||N/A
|price || ||free
|sources || ||3
Table of contents
1.0 INTRODUCTION 1
1.1 Importance of theory 2
2.0 PLANNING 6
2.1 What is planning 6
2.2 Importance of the Planning function 7
2.3 Steps in the Planning Process 8
2.4 Managing by objectives 10
3.0 DECISION MAKING 13
4.0 ORGANISING 15
7.0 LEADERSHIP 25
8.0 MOTIVATION 35
9.0 CONTROLLING 38
Preview of the essay: functions of management
Many scholars and managers have found that the functions of management are facilitated by the existence of clear organization knowledge. This knowledge (or management theory) consists of concepts, principles and variables and their relationships. This body of knowledge has been created, developed, used and tested for many years. The process of creating, developing, using and testing this theory or knowledge continues today. The managers of today use the theory or reform his management functions. The main functions of a manager are:
The goals of managers and organization are to achieve organizational goals. Most organizations seek to achieve profit or surplus. The function of managers is to establish an environment in which people in the organization can accomplish organizational goals. Since organizational goals are achieved with the use or resources, and resources are limited, managers must help organizations achieve their goals with the minimum of resources or accomplish as much as possible with the available resources. This requires a systematic process and use of knowledge and theory. The use of management theory helps managers accomplish organizational goals more effectively and efficiently.
• Efficiency (what is efficiency?)
• Effectiveness (what is effectiveness?)
Theory alone, however is not enough. The 21st century organization is facing challenges that make management a challenging ...
... statement, usually expressed in financial terms, of the desired performance of an organization in pursuit of its objectives in the short term (one year) budgetary control takes the targets of desired performance as its standard then systematically collates information relating to actual performance and identifies the variances between target and actual performance.
Break-even point is the point of production and sales at which profit is equal to zero (or TR= TC). A break even chart is a diagrammatic representation of breakeven point
Break-even charts are useful because they indicate the effects of marginal changes in sales volume or costs on profit figures.
Ratios are relationships of accounting figures. There are many types of ratios including
Profitability, liquidity, solvency, and efficiency ratios
Ratios provide useful summaries of relative efficiency, liquidity, profitability and solvency measures.
Physical value control systems
There are several control systems used to control values. One of them is the quality control. The control of quality rests on the assumption that is mass production no two units are exactly
is possible to mass produce almost identical units.
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