5-Functions-of-Management

In: Business and Management

Submitted By emansalita
Words 617
Pages 3
Vision

PLANNING

Mission

Objectives

Goals

Strategic Planning

Directional and motivational guidance for the entire organization.

An Organization's reason for being. It reflects the culture and values of ownership.

Objectives refine the Mission and address key issues within the organization such as market standing, innovation, productivity, physical and financial resources, profitability, management and worker performance. Goals are specific statements of anticipated results that further define the organization's objectives. They are expected to be SMART: Specific,
M easurable, Attainable, Rewarding, and Timed.

Strategies are major plans that commit large amounts of resource to proposed actions which are designed to achieve the major goals and objectives.

ORGANIZATION

Division of Labor

The organization structure and distribution of authority should reflect the mission, objectives, goals and tactics that grew out of the planning function. Division of Labor is captured in an organization chart which is a pictorial representation of an organization's formal structure. It must always remain consistent with reality.

Recruiting

STAFFING

$

PROFIT

$

Organizational Structure

DIRECTION

Staffing follows the organization functions by filling, and keeping filled, every required position within the company.

Decision Making and
Problem Solving
Two fundamental attributes of successful entrepreneurs are problem solving and decision making. They are closely linked and are, typically, mirrored in the efficiency and productivity of their management and staff.

Delegation of Authority

Departmentalization

Informal Structure

Authority is legitimized power.
Power is the ability to influence others. Delegation is the distribution of authority which frees ownership…...

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