Two of the Fundamental Management Tasks in a Business

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TWO OF THE FUNDAMENTAL MANAGEMENT TASK IN A BUSINESS

1.INTRODUCTION
To have a successful business, the implantation of four important tasks/functions within a business namely, planning, organisation, leading and control are crucial for its success. For discussion I will be focusing on planning which is fundamental starting point within any organisation. The benefit of planning is that it determines the goals and plans of the organisation. These goals and plans can be strategic, tactical or operational on a long, medium or short term basis. Without planning an organisation will not be able to exsist, grow or show profit as there is no mission and vision that can determine the goals and plans needed to operate the business. Control ensures that an organisation progresseses towards its goals and that the resources are being used properly and productively. Control is the final component of the management process, but also forms the basis for a new cycle of management activities as it gives feedback to management on how successful and effective the implemented plans were.

2.PLANNING

2.1Definition
Planning is the managing process that determines how an organisation will achieve its mission and vision and what resources is needed to achieve the goals of the organisation. Planning gives direction, and forces managers to look ahead and deal with changes in the business environment

2.2Benefits of Planning
It provides direction to determine where the organisation is heading and what plans is needed to obtain the goals. •It reduces the impact of change as management continuously scan the environment for possible changes that might affect the organisation. •It promotes co-ordination, better teamwork and co-operation as all members work towards the same goals. •It ensures cohesion as top management realise each sub division plays a role and is part of the organisation as a whole to reach the set goals and cannot function without one another. •It facilitates control with measuring actual performance and take corrective actions during deviations of the set goals

2.3The Cost of Planning
Ineffective planning could become costly if management is too rigid in staying to set plans. Intuition and creativity tend to go lost within the programmed routine and with planning being time consuming it may lead to the valuable time and energy of managers be wasted, as they are concentrating more on evaluating situations than performance and this causes delays in making crucial decisions

2.4Managerial goals and plans

2.4.1The Nature of Goals
To have a successful organisation there must be set goals to determine where the organisation wants to be and how the goals will be achieved. Goals give direction to all employees and activities, rewards are given to motivate employees if goals are reached and there is better control on organizational resources. By having the correct goals it will lead to the success of the organisation.

To ensure that goals are achieved they must be specific as to what the goal is, the timeframe to achieve the goal and what results is required as outcome on the set goals. Actual results must be measured against pre-determined goals and attainable in ensuring managers of sub-divisions clearly understand and know what results is expected of them to achieve the goals. Goals must relate to the organisations mission and vision and all staff needs to understand that there is a time limit on reaching these goals.

2.4.2The Nature of Plans
A plan is the blueprint of goal achievement and indicates how goals are going to be reached. It specify’s resources and the period of implementation. On formulation of plans managers consider several alternative plans of action to achieve a goal as external factors such as market factors, legislation and economic trends may cause organisations not to achieve its goals and forces management to look ahead at possible opportunities and threats...
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