Four Principal of Managerial Functions

Good Essays
Four principal of Managerial functions
Sample article: Roberts, G 2013, Rio Tinto eyes huge growth, Australian Associated Press Pty Limited, accessed 23/3/2013, http://www.news.com.au/business/breaking-news/rio-tinto-lifts-iron-ore-production/story-e6frfkur-1226554420329

This essay is related to the Rio Tinto company and presents some of the management theories and ideas. They are the four principal of managerial functions, contingency theory of organisation, challenges for management in the global environment and the organisational environment.

Four principal of Managerial functions

Rio Tinto mining company has a well-organised structure of Managerial Function. In this article, the most noticeable thing is the company planning. Rio Tinto plans to boost annual production to increase year by year and the company could become the first place of the iron ore market in the world. This planning is the most important not only for the organisation but also for the employee or shareholders. For example, All members of the organisation can work together to get their organisational goals by following the plans.

Chief executive of Rio Tinto, Tom Albanese presented about the strong operational performance for the previous year. It can be seen that the company has a well organising and leading functions. If the company do not organise well and there is no enough motivate to the employee, Rio Tinto will not get the great performance results. Specifically, the amount of iron ore production reached the top in 2012 and Rio Tinto becomes the second biggest iron ore producer in the global.

The employee are highly motivated and committed as the organisational goals which is strongly comment of the high level people of the company.

To recover the unsustainable cost increases, Rio Tinto reduced the costs of operating and supply as well as are expected to cut the exploration expenditure and evaluation projects. That is related to the controlling function and it is



References: Roberts, G 2013, Rio Tinto eyes huge growth, Australian Associated Press Pty Limited, accessed 23/3/2013, http://www.news.com.au/business/breaking-news/rio-tinto-lifts-iron-ore-production/story-e6frfkur-1226554420329 Waddell, D, Jones, GR & George, JM 2011, Contemporary management, 2nd edn, North Ryde, NSW: McGraw-Hill, Australia.

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