Factors Affecting the Four Functions of Manangement
Factors Affecting the Four Functions of Management.
Numerous factors impact the four functions of management. The functions of management include: planning, organizing, leading, and controlling. Key components include: external, internal, globalization, technology, innovation, diversity, and ethics.
A prime external factor would include the current state of the of the United States economy. Consumers may not be purchasing as many Hershey products this year as they did last year, due to staple items such as milk, bread, and eggs being more expensive. During the planning process Hershey’s managers are going to have to implement forecasting more than ever.
The organizing process involves synchronizing the resources required to attain organizational goals. Due to internal factors such as correspondence and numerous phone inquiries Hershey’s decided to create a company website to address customer inquiries. On Hershey’s website, consumers can read anything from product descriptions to the organization’s philosophies. (The Hershey Company, n.d.)
The function of leading is the process of motivating employees to perform at their best. Hershey’s is a company that truly values their employees as the company’s website clearly states. Hershey’s mission statement reads, “Bringing sweet moments of Hershey happiness to the world every day. To Hershey’s employees this means winning with an aligned and empowered organization…while having fun.” This is a reflection of the organizations culture and its dedication to company employees.
Controlling is the process of monitoring development and applying modifications. Hershey’s must be aware of how internal factors can affect control. By reviewing annual reports Hershey’s can get a general idea of what products are selling. If sales are low, marketing may need to see about alterative marketing strategies. “The Hershey Company (NYSE: HSY) is the largest North American manufacturer of quality chocolate and sugar
Numerous factors impact the four functions of management. The functions of management include: planning, organizing, leading, and controlling. Key components include: external, internal, globalization, technology, innovation, diversity, and ethics.
A prime external factor would include the current state of the of the United States economy. Consumers may not be purchasing as many Hershey products this year as they did last year, due to staple items such as milk, bread, and eggs being more expensive. During the planning process Hershey’s managers are going to have to implement forecasting more than ever.
The organizing process involves synchronizing the resources required to attain organizational goals. Due to internal factors such as correspondence and numerous phone inquiries Hershey’s decided to create a company website to address customer inquiries. On Hershey’s website, consumers can read anything from product descriptions to the organization’s philosophies. (The Hershey Company, n.d.)
The function of leading is the process of motivating employees to perform at their best. Hershey’s is a company that truly values their employees as the company’s website clearly states. Hershey’s mission statement reads, “Bringing sweet moments of Hershey happiness to the world every day. To Hershey’s employees this means winning with an aligned and empowered organization…while having fun.” This is a reflection of the organizations culture and its dedication to company employees.
Controlling is the process of monitoring development and applying modifications. Hershey’s must be aware of how internal factors can affect control. By reviewing annual reports Hershey’s can get a general idea of what products are selling. If sales are low, marketing may need to see about alterative marketing strategies. “The Hershey Company (NYSE: HSY) is the largest North American manufacturer of quality chocolate and sugar
References: AXS Technologies Announces Sweet Deal with Hershey’s. (2001). Business Services Industry. Retrieved from http://findarticles.com/p/articles/mi_mOEIN/is_/ai_72382151 Pennsylvannia: Hershey’s Chocolate World is sweet. (2006). Retrieved from http://www.newsday.com/travel/ny-glbb4680817apr02, 0,1194325.story The American Heritage (2006). In The American Heritage (Vol. 4, p. 1). Houghton Mifflin Company: Houghton Mifflin Company. The Hershey Company (n.d.). . Retrieved October 26, 2008, from http://www.thehersheycompany.com/index.asp http://www.hersheystory.org/exhibits/sweet-innovations.aspx