Functions of Management Paper
University of Phoenix
Management: Theory, Practice, Application
October 20, 2007
The following paper is a definition of Management and its functions as well as an explanation on how these functions relate to my organization.
Management comprises directing and controlling a group of one or more people or entities for the purpose of coordinating and harmonizing that group towards accomplishing a goal. Management often encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources. Management can also refer to the person or people who perform the act(s) of management. Management operates through various functions, often classified as planning, organizing, leading/motivating and controlling. - Planning: deciding what needs to happen in the future (today, next week, next month, next year, over the next five years, etc.) and generating plans for action. - Organizing: making optimum use of the resources required to enable the successful carrying out of plans. - Leading/Motivating: exhibiting skills in these areas for getting others to play an effective part in achieving plans. - Controlling: monitoring -- checking progress against plans, which may need modification based on feedback. In for-profit work, management has as its primary function the satisfaction of a range of stakeholders. This typically involves making a profit (for the shareholders), creating valued products at a reasonable cost (for customers), and providing rewarding employment opportunities (for employees). In nonprofit management, add the importance of keeping the faith of donors. In most models of management/governance, shareholders vote for the board of directors, and the board then hires senior management. Some organizations have experimented with other methods (such as employee-voting models) of selecting or reviewing managers; but this occurs only very rarely. In the public sector of countries constituted as representative democracies, voters elect politicians to public office. Such politicians hire many managers and administrators, and in some countries like the United States political appointees lose their jobs on the election of a new president/governor/mayor. Some 2500 people serve at the pleasure of the United States Chief Executive, including all of the top US government executives. Public, private, and voluntary sectors place different demands on managers, but all must retain the faith of those who select them (if they wish to retain their jobs), retain the faith of those people that fund the organization, and retain the faith of those who work for the organization. If they fail to convince employees of the advantages of staying rather than leaving, they may tip the organization into a downward spiral of hiring, training, firing, and recruiting. Management also has the task of innovating and of improving the functioning of organizations. The basic functions of a manager include planning, organizing, controlling, and leading, which combined, accomplish the goals of a corporation. There are many different fields of management within business. Five popular business management disciplines are marketing, human resources, MIS, the corporate legal affairs area, and the finance disciplines. Henry Mintzberg developed ten roles that classify the various characteristics of management. The five different fields are unique in the ways that they take on these different management roles. There are many similarities and differences between the salaries, background education, average years of experience, average tasks, and...