Functions of Management Paper Essay Example | Topics and Well Written Essays - 750 words - 2

Functions of Management Paper - Essay Example mpany and they use to give example of Southwest Airlines where right application of human resource pool helped the airlines to achieve business excellence (Pride, Hughes, & Kapoor, p.p. 159-160). Business management is a broad term used by management researchers to define various elements of business operation. Not only has private sector given importance on business managing but also other types of organizations (NGOs, public sectors) give importance on the subject. Business management is important counterbalance any types of organizational complexity or inconveniences (Spicer, 1997, p. 92). Planning is integrated part of management system while many management researchers has indicated planning is the first step of management. Planning is the systematic framework of setting business objective for the organization and designing strategy map to achieve the objective. Organizations establish a mission statement (like Google’s mission statement is to organize information for people and making an easy online platform to access the information for people) is the initial phase of planning process. Companies allocate resources in accordance the mission statement while the process is known as strategic planning. Suppose my organization is Finnish telecommunication giant Nokia. Tagline of the company is connecting people. The company needs to establish business objective of expanding distribution and regain market position within next five years. New product development and retail chain expansion are two major strategic plans in order to compete with Apple and Samsung. Management creates the basic design of work pattern in the organizing phase by defining organizational communication level (vertical or horizontal) for employees. In this phase management assign work responsibility to certain groups or individual workers. Defining who the target customers plays important role in this phase since knowing the needs of target customer’s helps employees to provide