Two of the Fundamental Management Tasks in a Business
TWO OF THE FUNDAMENTAL MANAGEMENT TASK IN A BUSINESS
1. INTRODUCTION
To have a successful business, the implantation of four important tasks/functions within a business namely, planning, organisation, leading and control are crucial for its success. For discussion I will be focusing on planning which is fundamental starting point within any organisation. The benefit of planning is that it determines the goals and plans of the organisation. These goals and plans can be strategic, tactical or operational on a long, medium or short term basis. Without planning an organisation will not be able to exsist, grow or show profit as there is no mission and vision that can determine the goals and plans needed to operate the business. Control ensures that an organisation progresseses towards its goals and that the resources are being used properly and productively. Control is the final component of the management process, but also forms the basis for a new cycle of management activities as it gives feedback to management on how successful and effective the implemented plans were.
2. PLANNING
2.1 Definition
Planning is the managing process that determines how an organisation will achieve its mission and vision and what resources is needed to achieve the goals of the organisation. Planning gives direction, and forces managers to look ahead and deal with changes in the business environment
2.2 Benefits of Planning
• It provides direction to determine where the organisation is heading and what plans is needed to obtain the goals.
• It reduces the impact of change as management continuously scan the environment for possible changes that might affect the organisation.
• It promotes co-ordination, better teamwork and co-operation as all members work towards the same goals.
• It ensures cohesion as top management realise each sub division plays a role and is part of the organisation as a whole to reach the set goals and cannot function without one
1. INTRODUCTION
To have a successful business, the implantation of four important tasks/functions within a business namely, planning, organisation, leading and control are crucial for its success. For discussion I will be focusing on planning which is fundamental starting point within any organisation. The benefit of planning is that it determines the goals and plans of the organisation. These goals and plans can be strategic, tactical or operational on a long, medium or short term basis. Without planning an organisation will not be able to exsist, grow or show profit as there is no mission and vision that can determine the goals and plans needed to operate the business. Control ensures that an organisation progresseses towards its goals and that the resources are being used properly and productively. Control is the final component of the management process, but also forms the basis for a new cycle of management activities as it gives feedback to management on how successful and effective the implemented plans were.
2. PLANNING
2.1 Definition
Planning is the managing process that determines how an organisation will achieve its mission and vision and what resources is needed to achieve the goals of the organisation. Planning gives direction, and forces managers to look ahead and deal with changes in the business environment
2.2 Benefits of Planning
• It provides direction to determine where the organisation is heading and what plans is needed to obtain the goals.
• It reduces the impact of change as management continuously scan the environment for possible changes that might affect the organisation.
• It promotes co-ordination, better teamwork and co-operation as all members work towards the same goals.
• It ensures cohesion as top management realise each sub division plays a role and is part of the organisation as a whole to reach the set goals and cannot function without one