Functions_of_Management

Functions of Management American InterContinental University October 30, 2010 Abstract This paper will explain the four basic functions of management; Controlling, Leading, Organizing and Planning. It will discuss the manufacturing option decision. There will be some pros and cons about the manufacturing decision. The paper will also discuss the impact the manufacturing decision it might have on the functions of management. Functions of Management There are four basic functions of management; Controlling, Leading, Organizing, and Planning. Controlling As a manager control is important. It is their job to establish standards. They need to compare performance against their business and take corrective action, if needed. It is also the duty of the manager to pay attention to cost versus performance of the business. Leading As a manager, you should motivate and guide the employees to meet the goals of the company. Employees usually follow the managers because they are the person in charge. Managers who have effective leader skills should discover what it takes to motivate and inspire their employees to reach the company’s objectives. Organizing It is the responsibilities of the manager to keep the company organized. This also includes the organizing of the employees and resources. The purpose of organizing is to arrange elements in an order of structure. Planning Planning is to set goals for the employees to improve the business. These plans/goals are usually stated in the mission statement for the company. The process of planning identifies the goals to be achieved; strategies are formulated to be achieved. Plans are arranged to meet the required means. The manufacturing option decision that may be best for the inventor with no fund would be assembly only. The reason for this decision is because the inventor knows what they want and how it should be done to his expectations. With assembly only the inventor can assemble the final product the way needed. There are some pros and cons to manufacture products but every inventor and company deals with the issues at hand. A pro for assembly only is that it requires far less space and equipment investment than manufacturing and assembling entire product. And for course there are some cons to every pro. A few cons that would come along with assembly only are the inventor will be dependent on another company for component parts. Also have a chance of higher cost than self manufacturing the entire product. For the decision of assembly only, the impact it might have on the functions of management could be stressful. The impact for controlling is that the inventor will need to set performance standards since he will be dependent on other companies for parts. The impact for leading the inventor will need to have set goals for the employees. To have a great product the inventor needs to get and stay organized in order to get the perfect product. The impact for planning the inventor needs to have room for improvements. Keep the plans in order to get the product out to consumers. Reference Rothbauer-Wanish, H. (2009). Four Functions of Management. All managers must plan, organize, lead, and control. Retrieved from http://www.suite101.com/content/four-functions-of-management-9113463 Business Dictionary. Retrieved from http://www.businessdictionary.com AIU’s Bus105 Unit 4 “What If” Analysis