Four Principles of Management
University of Phoenix
November 10, 2007
Many Fortune 500 companies have management training programs. A company must always have the competitive edge over its competitors. These companies must invest in creating curriculums to help the mangers create motivation in the employees as well as attain the goals set forth by the corporation. According to the Random House Unabridged Dictionary, management is "the act or manner of managing: handling, direction, or control; skill in managing, the person or persons controlling and directing the affairs of a business institution, etc." A great manager must know and implicate the four major principles of management. The principles of management are planning, organizing, leading and controlling. A manager must be able to make people work more effective than they would with out Good management starts with good planning. Planning is setting the specific goals to be achieved and creating the needed steps to attain the goals. Operational planning is how a manger decides "implement the organization's strategic planning by establishing objectives, devising a course of action to accomplish the plan, determining appropriate measurements that will reflect the progress, and setting a schedule for accomplishing the plan (Battles, 2005)." Proper planning prevents mishaps. Bank of America is a large organization. We deal with the regular checking and savings accounts and a wide range of financial services. My objective is to meet the goals in the credit card division. Customer satisfaction is one of our biggest departments. We have over one hundred thousand employees working 24 hours a day/ 7 days a week all year round. The credit card division is by far the second larges to the retail banking. Each department has different goals and each department has different types of managers. At the beginning of every month, our manager sets up the monthly plan. It includes...
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