Management Functions
While in the creation of the business, one must come to the decision of what is the best way to manufacture the product. The company must look thoroughly at all options and weigh the pros and cons of each choice and come to a logical decision. The options of manufacturing a product are to establish manufacturing of all components and final assembly, establish assembly only operation with components purchased from local vendors, or to outsource the entire manufacturing operation to an offshore company. All decisions that are made for and by a company are made through management, whether it is a single manager or a team of managers. Management has four basic functions which are planning, organizing, leading and controlling. With these functions they will be able to make the company more successful, because the company a format to help them guide or organize their company in an efficient manner.
Planning is the base component of the management functions. Three main components help form the function of planning. These components include determining the company’s goals, developing a comprehensive strategy for achieving the goals in which the company sets, and designing both tactical and operational plans for implementing the strategy in which it develops. (Ebert & Griffin, 2011) When planning, the manager must be aware of all external environments that affect their business and be able to forecast future conditions. (Management Functions: Encyclopedia of Management, 2011) There are different forms of planning; they are but not limited to, strategic planning, marketing planning, business planning, succession planning, project planning, and sales planning. (Four Functions of Management, paragraph 2) The second management function is organizing. Organizing includes the development of structure in the business and the allocation of human resources in order to ensure the accomplishment of the companies’ objectives. (Management Functions: Encyclopedia of
Planning is the base component of the management functions. Three main components help form the function of planning. These components include determining the company’s goals, developing a comprehensive strategy for achieving the goals in which the company sets, and designing both tactical and operational plans for implementing the strategy in which it develops. (Ebert & Griffin, 2011) When planning, the manager must be aware of all external environments that affect their business and be able to forecast future conditions. (Management Functions: Encyclopedia of Management, 2011) There are different forms of planning; they are but not limited to, strategic planning, marketing planning, business planning, succession planning, project planning, and sales planning. (Four Functions of Management, paragraph 2) The second management function is organizing. Organizing includes the development of structure in the business and the allocation of human resources in order to ensure the accomplishment of the companies’ objectives. (Management Functions: Encyclopedia of
References: The Pros and Cons of Outsourcing, 2006 - 2011 http://www.flatworldsolutions.com/articles/pros-cons-outsourcing.php Wikipedia Encyclopedia Outsourcing, 2011 http://en.wikipedia.org/wiki/Outsourcing Dori Reuscher, Outsourcing Pros and Cons, 2011 http://certification.about.com/cs/jobs/i/outsourcing_2.htm