20 April 2013
Rebecca Fuller
How Your Managers Can Contribute to Organisational Performance
The ‘Four Management’ Functions
* Contents Page
1.0 Introduction Pg. 2
2.0 Management Functions Pg. 3
3.0 Example 1 – RedBalloon Pg. 4
4.0 Example 2 – Best Buys Pg. 5
5.0 Conclusion Pg. 6
6.0 Bibliography Pg. 7
* 1.0 Introduction
This report attempts to evaluate the ways in which managers can contribute to organisational performance. It uses the works of Henri Fayol and the ‘four management functions’ and considers how two companies; RedBalloon and Best Buys may use these in their organisation.
The Oxford Dictionary (2013) defines a 'Manager ' as a person responsible
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Such changes to a long standing large-scale company shows that the four management functions all would have been utilised. However we will look at the remaining two that have not been yet covered in the previous example; Planning and Leading.
Best Buys changing their daily function from flexible ROWE to full in office work days highlights the use of defining organisational goals and strategies, coordinating daily activities and setting benchmarks for employees which will help the organisation monitor and evaluate efficiency.
Best Buy management will need to continue to keep team members efficiently meeting their performance benchmarks just as they did when it was a ROWE. Now that the team members will be in the office in a more structured set of hours it seems that the management personnel will have a greater opportunity to be leaders in their day to day role.
Management may find that they will utilise their conflict resolution skills more now all the employees with be working in office for longer periods. Also the communication channels that may have been effective in the past with the old working conditions may not suit the new one.
* 5.0 Conclusion
There are many
Asforthe word ‘management’, there has been long debate about its meaning. For our purpose, we take the perspective of the functions that managers
Instead of a chief operating officer, Best Buy has a chief administrative officer. Operating under two distinct business segments (domestic and international), Best Buy Co., Inc. uses a divisional-by-geographic region organizational structure with its domestic operations generating 26 percent of the total company’s revenue. The two geographic regions serve as two distinct strategic business unit (SBU) structures broken down by products and services. Employees are assigned to distinct leadership teams for each. Each team determines how to market products and services through Best Buy’s channels, retail stores and online, and call centers. Consumer electronics, computing and mobile phones, entertainment, appliances, services, and other are the six different revenue categories by which each SBU is broken down. (David,
Having said this, it has been formalizing that structure to be more lean, efficient, and competitive. As mentioned previously, the retail market has experienced significant changes that require expensive capital investment to remain relevant or the company could be faced with going out of business as so many traditional brick-and-mortar organizations. One key element that has been implemented is the cross departmental training to ensure that innovative ideas can be discovered, developed, and implemented as quickly as possible. By having an effective collaboration across the organization, once divergent groups of team members are able to work together to achieve remarkable system enhancements which in turn reduce operating
Right after 1983, Schulze launched his “Superstore Format” concept, which redefines the position of Best Buy as a “Big Box Electronic Store”. This move boost the customer’s opportunity to interact with products before purchasing it.
It is important to have a good management to direct Best Buy to the correct direction.
and greatest products. In order for Best Buy to stay atop of the top 25 organizations
The five functions of management are imperative in any business especially mine where we use computer technologies as our main source of profit. My company is a contract based company that provides technical support to a variety of customers through a cloud system to replace any IT information needed. In a business such as mine, the practices of planning, leading, organizing, staffing and controlling are all equally important. Each function has its own place and use in both a conjunction with other practices or on its own. In this paper, I will go into depth on how each practice is used either by me or by my other co-workers that make up our team.
Lastly, management’s involvement creates stress with scheduling, meetings, and managing. Managers will have to look at the big picture and make decisions based on this new scheme. The old days of just walking down the hall and giving someone, a task to complete is over. This new scheme requires more organization and better communication skills too.
In my explanation of the four management functions, I will explore how they apply to my organization, my supervisor, and my position. The planning, organization, leading, and controlling aspects of management are what I will discuss in this paper.
Best Buy is the largest retailer of consumer electronics in the world. The company has a large of stores in the U.S. and about 2,916 stores in China, Canada Mexico as well as 8 European countries. Best Buy is the 10th biggest online retailer in the united states and more than 1.6 billion users visit the company’s websites or the stores each year. Best Buy currently employs approximately 165,000 people and its world consumer electronics market share is 19 percent. Best buy unlike its competitors Amazon and Wal-Mart does not employ a low price strategy. The company’s recent strategy is concerned on delineation driven by employee training, online and in- store enhanced consumer experience. In 2013, the home segment operated under various brand names such as Best Buy, Pacific Sales and Magnolia Audio Video. The company opened 105 US Best Buy Mobile stand-alone stores and closed 47 US Best Buy stores, one US Best Buy Mobile stand-alone store and one Magnolia store. Best Buy continues to offer Geek Squad support services, and Best Buy Mobile store is still active. In the year 2014, there was expectation to close additional between five to ten US Best Buy stores by the company and open a small number of US Best Buy Mobile stores. The global section is operated under the brand names of Best Buy, Best Buy Mobile. Best Buy Express was also introduced in a small-format store in Mexico.
This is an arrangement paper that was compiled by several students attending the University of Phoenix online classroom. This paper elaborates on the four functions of management. In order for an organization to survive, each of these functions is critical. Comprehensive understanding of each of the four functions is also necessary. This paper also identifies and presents operational illustrations of the four basic functions. It emphasizes the need to perform each of these management functions efficiently and effectively in order to create a sustainable competitive advantage for a company. Without properly utilizing these tools, the organization could be headed down a road doomed to failure.
In a variety of business environments around the world, four management functions are usually found. The functions are planning, organizing, leading, and controlling. These are used from top-level management to frontline or organizational management. Globalization, technology, innovation, diversity and ethics are factors that affect these business functions. One can examine almost any organization and find this to be true. Wal-mart is one of the leading retail organizations in the world whose management functions are affected by these factors.
The four functions of a manager are planning, organizing, leading, and controlling. These are key elements that managers must understand to run a successful organization. I will view each concept as well as their roles to acknowledge how these functions have been related to my personal experience in the work environment. Behind the scenes of a manager, they spend an equal amount of time planning so that he or she can successfully achieve the leading and controlling functions. These functions are standard for any industry that is striving to maintain a strong organization. While reviewing this paper, try to think of the four functions as a method that is established to build on each other. The four functions must be performed efficiently, and when done correctly, an organization will reap the accomplishments from a well-defined plan. My own experiences of how the four functions operate illustrates that each role requires a manager to devote time and patience in order to ensure that the main principles are achieved.
The paper will explore different theories of Management, include Henri Fayol and Henry Mintzberg. This section of this paper provides an overview of functions, roles and skills required of a manager. What is Management? Management can define as the process of reaching organisational goals by working with and through people and other organisational resources. (Management Innovation, 2008).
1. Evaluate the classic management functions and their relationship to each other, including the extent to which they may or may not be interrelated.