The Functions of Management Essay Example

The Functions of Management Essay Describe the function of planning and its importance in the strategic management process. Planning Strategic Management planning, which we previously defined as setting goals and deciding how to achieve them. Another definition: Planning is coping with uncertainty by formulating future courses of action to achieve specified results. Tragic management is a process that involves managers from all parts of the organization-top managers, middle managers, and first-line managers-in the ruination, Implementation, and execution of strategies and strategic goals to advance the purposes of the organization. Thus, planning covers not only strategic planning (done by top managers) but also tactical planning (done by middle managers) and operational planning (done by first- line managers). Planning and strategic management derive from an organizations mission and vision about itself. How Planning Helps You: Four Benefits: Planning Helps You Check on Your Progress . Planning Helps You Coordinate Activities. Planning Helps You Think Ahead. Above All, Planning Helps You Cope with Uncertainty. Discuss the functions and purpose of an organizations vision and mission statement in planning. The planning process begins with two attributes: a mission statement (which answers the question What is our reason for being? ) and a vision statement (which answers the question What do we want to become? ). The Mission Statement-What Is Our Reason for Being? An organizations Nilsson Is Its purpose or reason for being. Determining the mission Is the responsibility of top management and the board of directors. We will write a custom essay sample on The Functions of Management specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Functions of Management specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Functions of Management specifically for you FOR ONLY $16.38 $13.9/page Hire Writer It Is up to them to formulate a Nilsson statement, which expresses the purpose of the organization. Ascribing what an organization wants to become. It is a clear sense of the future and the actions needed to get there. After formulating a mission statement, top managers need to develop a vision statement, which expresses what the organization should become, where it wants to go strategically. 3- Provide a brief statement explaining SMART goals and the process of Management By Objectives (MOB). SMART Goals is one that is Specific, Measurable, Attainable, Results-oriented, and has Target dates. Specific: Goals should be stated in specific rather than vague terms. The goal that As any planes as possible should arrive on time is too general. The goal that Ninety percent of planes should arrive within 15 minutes of the scheduled arrival time is specific. Measurable: Whenever possible, goals should be measurable, or quantifiable (as in 90% of planes should arrive within 15 minutes ). That is, there should be some way to measure the degree to which a goal has been reached . If course, some goals-such as those concerned with improving quality-are not precisely quantifiable. In that case, something on the order of improve the quality of customer elations by instituting 10 follow up telephone calls every week will do. You can certainly quantify how many follow-up phone calls were made. Attainable: Goals should be challenging, of course, but above all they should be realistic and attainable. It may be best to set goals that are quite ambitious so as to challenge people to meet high standards. Always, however, the goals should be achievable within the scope of the time, equipment, and financial support available. Results-oriented: Only a few goals should be chosen-say, five for any work unit. And hey should be results-oriented-they should support the organizations vision. In writing out the goals, start with the word To and follow it with action-oriented verbs-complete, acquire, increase (to decrease by 1 0% the time to get passengers settled in their seats before departure). Some verbs should not be used in your goal statement because they imply activities-the tactics used to accomplish goals (such as having baggage handlers waiting). For example, you should not use to develop, to conduct, to implement. Target dates: Goals should specify the target dates or deadline dates when they are o be attained. For example, its unrealistic to expect an airline to improve its on-time arrivals by 1 0% overnight. However, you could set a target date-3 to 6 months away, say-by which this goal is to be achieved. That allows enough time for lower-level managers and employees to revamp their systems and work habits and gives them a clear time frame in which they know what they are expected to do. Management by objectives (MOB) is a four-step process in which: (1) Managers and employees Jointly set objectives for the employee. (2) Managers develop action plans. 3) Managers and employees periodically review the employees performance. 4) The manager makes a performance appraisal and rewards the employee according Jointly Set Objectives. Develop Action Plan. Periodically Review Performance. Give Performance Appraisal Rewards, If Any. 4- Produce a two page paper that addresses the above action items. Planning Strategic Management formulation, implementation, and execution of strategies and strategic goals to The planning process begins with two attributes: a mission statement (which answers the question What is our reason for being? ) and a vision statement (which answers the question What do we want to become? ). The Mission Statement-What Is Our Reason for Being? An organizations mission is its purpose or reason for being. Determining the mission is the responsibility of top management and the board of directors. It is up to them to formulate a mission The Vision Statement-What Do We Want to Become? A vision is a long-term goal SMART Goals is one that is Specific, Measurable, Attainable, Results-oriented, and has Target dates. Many planes as possible should arrive on time is too general. Measurable: That is, there should be some way to measure the degree to which a AOL has been reached . Attainable: Goals should be challenging, It may be best to set goals that are quite ambitious so as to challenge people to meet high standards. Always, however, the goals should be achievable within the scope of the time, equipment, and financial support available. They should be results-oriented-they should support the organizations vision. Arrivals by 1 0% overnight. Management by objectives (MOB) is a four-step process in which: (1) Managers and employees Jointly set objectives for the employee. (2) Managers develop action plans. To results. The four steps of MOB : You sit down with your manager and the two of you Jointly set objectives for you to attain. Later you do the same with each of your own subordinates. Develop Action Plan. Once objectives are set, managers at each level should prepare an action plan for attaining them. Periodically Review Performance. You and your manager should meet reasonably often-either informally as needed or formally every 3 months-to review progress, as should you and your subordinates. At the end of 6 or 12 months, you and your subordinate should meet to discuss results, comparing performance with initial objectives.