Is there any relationship between the four functions of management? Explain your answer. FUNCTIONS OF MANAGEMENT• Planning is a formal process whereby managers choose goals, identify actions toattain those goals, allocate responsibility for implementing actions to specific individualsor units, measure the success of actions by comparing actual results against the goals,and revise plans accordingly. Planning takes place at multiple levels in an organizationand is an ingrained part of a manager's job. Planning is used by senior managers todevelop overall strategies for an organization. A strategy is an action that managers taketo attain the goals of an organization. Strategizing is the process of thinking through on acontinual basis what strategies an organization should pursue to attain its goals.• Organizing - refers to the process of deciding who within an organization will performwhat tasks, where decisions will be made, who reports to whom, and how different partsof the organization will coordinate their activities to pursue a common goal.• Controlling - is the process of monitoring performance against goals, intervening whengoals are not met, and taking corrective action. Without control systems to verify thatperformance is hitting goals, an organization can veer off course. Controlling is alsolinked to planning and strategizing and to organizing. Drafting plans is the first step incontrolling an organization. Controlling requires managers to compare performanceagainst the plans to monitor how successful an organization is at implementing astrategy.This instructional material was compiled as reference of PUP San Juan BSHM 2nd year students for their subjectHORE 40043- Cost Control.Compiled by: Anna Margarita C. QuibotHORE 40043 - COST CONTROL• Leading is the process of motivating, influencing, and directing others in theorganization to work productively in pursuit of organizational goals. Leading also entailsarticulating a grand strategic vision for an organization and becoming a tireless advocatefor that vision. An important aspect of leading is developing employees. Developingemployees refers to the task of hiring, training, mentoring, and rewarding employees inan organization, including other managers. It is often said that people are the mostimportant asset of an organization.

Management is a systematic and continuous process of controlling and coordinating administrative…

Answered: Is there any relationship between the…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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CRITICAL ANALYSIS OF THE PLANNING IN BROOKLYN’S LEADING TO CHANGE The reason why the new owner of the Franchise, David Becker, had decided to replace the old manager with a new one was that this particular restaurant was doing poorly in terms of profit as compared to other restaurants in the chain. David Becker attributed this fact to poor planning and organization structure and decided to introduce the restructuring and policies implemented successfully by him to the other two restaurants owned by him. Critical examination of the old policies of the top and middle-level managers shows that some of the practices used by them were flawed and needed improvement.The previous owner of the franchise had not taken an active interest in the running of the restaurant leaving it upon the manager to run the affairs of the restaurant. Communication of goals from the top to middle-level managers is necessary to run an organization clearly lacking in this case. The top management probably did not…
CRITICAL ANALYSIS OF THE PLANNING IN BROOKLYN’S LEADING TO CHANGE The reason why the new owner of the Franchise, David Becker, had decided to replace the old manager with a new one was that this particular restaurant was doing poorly in terms of profit as compared to other restaurants in the chain. David Becker attributed this fact to poor planning and organization structure and decided to introduce the restructuring and policies implemented successfully by him to the other two restaurants owned by him. Critical examination of the old policies of the top and middle-level managers shows that some of the practices used by them were flawed and needed improvement.The previous owner of the franchise had not taken an active interest in the running of the restaurant leaving it upon the manager to run the affairs of the restaurant. Communication of goals from the top to middle-level managers is necessary to run an organization clearly lacking in this case. The top management probably did not…
CRITICAL ANALYSIS OF THE PLANNING IN BROOKLYN’S LEADING TO CHANGE The reason why the new owner of the Franchise, David Becker, had decided to replace the old manager with a new one was that this particular restaurant was doing poorly in terms of profit as compared to other restaurants in the chain. David Becker attributed this fact to poor planning and organization structure and decided to introduce the restructuring and policies implemented successfully by him to the other two restaurants owned by him. Critical examination of the old policies of the top and middle-level managers shows that some of the practices used by them were flawed and needed improvement.The previous owner of the franchise had not taken an active interest in the running of the restaurant leaving it upon the manager to run the affairs of the restaurant. Communication of goals from the top to middle-level managers is necessary to run an organization clearly lacking in this case. The top management probably did not…
Mangement Effective planning is a crucial element in achieving success, be it in personal endeavors or professional pursuits. The process of planning involves setting specific goals, identifying the steps required to reach those goals, and allocating resources accordingly. Whether it's a project, a business strategy, or even day-to-day tasks, a well-thought-out plan serves as a roadmap, providing direction and clarity. Planning helps individuals and organizations prioritize tasks, manage time efficiently, and anticipate potential challenges. It is a dynamic process that requires flexibility and adaptability as circumstances may change. By investing time and effort in planning, individuals and businesses increase their chances of not only meeting their objectives but also doing so in a more organized and systematic manner. Question: How can individuals strike a balance between sticking to a planned course of action and being flexible enough to adapt to unforeseen circumstances?
21 - Which of the following is not a reason for managers to plan? a) Performing SWOT analysis B) Reducing conflicts and wasteful activities NS) Coordinated efforts D) reduce uncertainty TO) Establishing standards for tools used to audit work
Note: This is not writing assignment >>FamilyMart: Internet Plus Strategy (Read from internet) Need all question answer Questions: (1)（a） Should FamilyMart develop its retail business online? Why? （b） What is the best plan of action if FamilyMart is to engage in online development? Why? （c） How should FamilyMart implement your chosen plan? Don't provide only 1. Need all answer
Question Please answer the question with accurate explanations and examples as per the question. Good business leaders create a vision, articulate the vision, passionately ownthe vision, and relentlessly drive it to completion. Discuss how often shouldan organisation’s vision/mission be changed in light of strategy evaluationactivities. (CLO 2 : Formulate the organisational vision, mission, goals and objectives of theorganisation)
Internal Analysis This assignment is based on the NIKE Company In this section, you will study the internal resources, capabilities, core competencies, and value chain of your selected firm 1 Use the VRIO framework to identify the competitive position held by your firm Which, if any, of these resources are helpful in sustaining the firm’s competitive advantage? 2 Identify the core competencies that are at the heart of the firm’s competitive advantage (Remember, a firm will have only one, or at most a few, core competencies, by definition) Submit a report on you findings that is clearly written, well formatted and thoroughly covers this issue Besides addressing each prompt you should justify your answer with significant detail and examine any implications that the issue has on their business strategy
1- Which of the following functions of management ensures that planned objectives set are achieved? a. Directing b. Organizing c. Controlling d. Planning
Q:Changes in strategy often require changes in the way an organization is structured, evaluate the role of organizational structure in executing effective strategy?
1. A mission statement is: A. A statement of the company's purpose B. Legally required C. Also called a divisional statement D. A company's viable view of the future 2. A service is: A. A tangible item B. An intangible item C. A good D. All of these 3. Middle managers: A. Are commonly referred to as executives B. Deal with operational issues C. Typically have the title "director" or "manager" D. Deal with strategic and tactical issues
1. ________ typically deal with tactical issues, which tie strategy to day-to-day operations. A. Executives (vice presidents) B. Employees C. Managers (directors) D. Supervisors 2. ________ issues deal with day-to-day issues. A. Tactical B. Operational C. Strategic D. None of these 3. Customer loyalty: A. Is an employee's obligation to consistently support a company B. Gauges how happy your customers are with your good or service C. Is an important element of poor quality and customer service D. None of these

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