Functions of Management

Functions of Management Virtually everyone is aware of the infamous dot-com crash in early 2000. However, not everyone is as conscious of the telecom bust. gibe to the editorial of The Economist, The Great Telecoms Crash, The telecoms bust is some ten quantify bigger than the dotcom crash: the rise and fall of telecoms may indeed qualify as the largest bubble in history. Companies caught up in the telecommunications industry were forced to take huge debt write-offs and even resorted to duplicitous accounting tricks as displayed by WorldCom (Economist). Being involved in the manufacturing segment of the telecom market, I witnessed first hand the results of the crash, including abundant layoffs, hostile corporate take-over, and enormous company debt. Many blanket managers and front-line supervisors were so consumed with demands, changes and challenges of the exponential growth of the telecom market that portions of the cardinal functions of management were short-circuited , which are planning, organizing, leading and controlling. The first function for managers at all levels is to engage in planning. Planning involves devising a scheme for attaining the goals of the organization.

Planning is stripeting goals and deciding on courses of action, growth rules and procedures, developing plans and forecasting (Dessler 5). One method of how our company accomplishes this purpose is defining the mission, which is the purpose of our organization. Planning involves setting goals, and our organization speculate the goals into a tree. This tree consisted of revenue growth, earnings before income taxes and gustatory sensation (EBITA), productivity, free cash flow, and people. The key matter in accomplishing the goals set forth in the planning process is configuring the work of the organization. Organizing is define as gathering and arranging the necessary resources. These resources can be human, financial, physical, or informational to carry out the plan. Our company has... If you want to support a full essay, order it on our website: Orderessay

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