Answer:
There are four main or basic management functions. They are:
- Planning
- Organizing
- Leading and
- Controlling
These are crucial for attaining managerial success
Explanation:
The first function is PLANNING.
I'd along with the senior team put together a strategy that allows the company to achieve the already stated goals. The strategy would look at Strengths, Weaknesses, Opportunities and Threats of the company.
My next task would be to take the organisational goals and break them down into achievable units. I'd also check to see that the goals are ASMART.
A - Aligned: Goals must be in sync with the company's strengths and objectives
S - Specific: Ambiguous goals are as useless as the paper on which they are written. An example of a specific goals could be to achieve a profit of $ 1 Million dollars in the first 24 months.
M - Measurable - the goals must have parameters based which the degree to which it has been attained can be evaluated
A - Achievable
R - Realistic
T - Timebound
ORGANISING
The goals are broken down into monthly, quarterly and yearly subunits and delegated to relevant line managers/units.
When a company develops various internal organs according to generic and specific functions with regard to it's plan/objectives it is called an Organisation. That is a collection of various units or organs. Keeping these units functional and active towards the attainment of the companys goals with clear reporting structures is also defined as organisation.
LEADING
Without proper leadership, every organisation fall apart. Leadership simply is steering the course of the organisation, motivating, punishing and rewarding staff and units to the end that the bigger picture is attained. It can also be defined as getting all the staff to commit willingly to the attainment of the company's objective.
CONTROLLING
Setting up and maintaining controls is simply ensuring that no unit becomes too powerful they develop a mind of their own and or become unaccountable.
Without accountability, it is difficult for growth in the desired direction to happen.
The Finance Unit, for instance, would have an someone such as the Internal Auditor who will excercise oversight over the unit. The Internal Auditor will report to the board of governors.
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