Understanding The Managerial Functions In Firms

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I agree with that organizations are made up of people, processes and systems all working together to achieve a common goal. Management is part of business I will give some examples of support my sentence. Processes and system are collection of parts that interact together for a common purpose. But a system is not just any old collection of parts. The parts are related in such a way that each depends on the others to do whatever job there is to be done. No single part can do the job alone, and any malfunction or delay is likely to affect the whole system.

2) Managerial Functions:

Managers create and uphold an internal environment, commonly called the organization, so that others can work efficiently. In any organization, a manager's job consists of planning, organizing, staffing, motivating, leading and controlling the resources of the organization. These functions also include counseling and coordinating with subordinates and peers. These resources include people, jobs or positions, technology, facilities and equipment, materials and supplies, information, and money. Managers work in an energetic environment and must foresee and adapt to challenges." Eight Managerial Functions, Planning involves selecting missions and objectives and the actions to achieve them. It requires decision-making. For every organization, planning process is rational and agreeable to the scientific approach to problem solving.

. You have to set your goals straight

PRAVIN CHAUDHARI

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Managerial functions in business

Planning: is the ongoing process of developing the business' mission and objectives and determining how they will be accomplished. Planning includes both the broadest view of the organization, e.g., its mission, and the narrowest, e.g., a tactic for accomplishing a specific goal.

Organizing: is establishing the internal organizational structure of the organization. The focus is on division, coordination, and control of tasks and the flow of information within the organization. It is in this function that managers distribute authority to job holders.

Leading: means working with people and directing proper way to achieve a goal. Manager helps to their employees to the best way.

Controlling: means controlling upon organization, (company). Managers got controlling power from director of the company. They have right to control the all thing in origination. Manager should control upon expenses controlling upon employees.

3) Types of Origination:

There are some different types of organizations in the world private organization and government organization. I will explain that next Para.

Sole Traders: Sole trader means there are no any partner in a company. Only one person put the money in business. Who take profit of organization alone? There is one disadvantage of sole trader. If business will falling than sole trader face big problems.

Partnership: According to section 4 of the Partnership Act of 1932, which applies in both India and Pakistan, "Partnership is defined as the relation between two or more persons who have agreed to share the profits and losses according to their ratio of business run by all or any one of them acting for all". This definition superseded the previous definition given in section 239 of Indian Contract Act 1872 as - "Partnership is the relation which subsists between persons who have agreed to combine their property, lab our, skill in some business, and to share the profits thereof between them".

Limited companies: Limited company means that is separate from the owners of the business. There are share holders are owners of the organizations. And managing directors are the managers of the enterprise

There are two types of limited organizations.

Public Company: Public organization means company sells their shares to the stock exchange. We can call them Limited companies.

Private Company: Private Company means. They can't sell their shares to the stock exchange.

4) Business Per formation:

Business per formation is a set of management and analytic processes that enable the performance of an organization to be managed with a view to achieving one or more pre-selected goals.

PRAVIN CHAUDHARI

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Managerial functions in business

Business per formation has three main activities: 1) the selection of goals. 2) the he conclusion  of measurement information relevant to an organization's progress against these goals, 3) the interventions made by managers in light of this information with a view to improving future performance against these goals

Although presented here sequentially, typically all three activities will run concurrently, with the interventions made by managers affecting the choice of goals, the measurement information monitored, and the activities being undertaken within the organization.

5) Business Strategies:

The definition of business strategy is a long term plan of action designed to achieve a particular goal or set of goal or objectives. Strategy is management's game plan for strengthening the performance of the enterprise. It states how business should be conduct to achieve the desired goals. Without a strategy management has no roadmap to guide them. 

Create a business strategy is a core management function. It must be said that having a good strategy and executing the strategy well, does not guarantee success. Organizations can face unforeseen circumstances and adverse conditions through no fault of their own. I will explain a case study on the Nokia Phone Company.

Nokia - Company Overview

Nokia Corporation (Nokia) is a global manufacturer of mobile devices headquartered in Espoo, Finland. Nokia operates through four business groups: Mobile Phones, Multimedia, Enterprise Solutions and Networks. In Q3 2007, Nokia sold over 111.7 million units worldwide, marking a 26 per cent, year-on-year growth. Nokia India had revenues of more than $3.5 billion in 2006…

Case Study Contents

Nokia - Company Overview

Company History

Nokia Timeline

Nokia in India

Locations and Subsidiaries

Mobile Devices Industry in India - Business Description

Restructuring

Distribution challenges - Getting to the Rural Market

Understanding the versatile Indian market

Nokia - Branding Strategy

SRK in Nokia ad campaign

Nokia India Recognitions and Awards

Related Reading

View sample pages of this case study

PRAVIN CHAUDHARI

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Managerial functions in business

6) Business Behavior:

the study of human and group behavior within organizational settings. The study of organization behavior involves looking at the attitudes, interpersonal relationships, performance, productivity, job satisfaction, and commitment of employees, as well as levels of organizational commitment and industrial relations. Organization behavior can be affected by corporate culture, leadership, and management style.

Organization behavior emerged as a distinct specialty from organization theory in the late 1950s and early 1960s through attempts to integrate different perspectives on human and management problems and develop an understanding of behavioral dynamics within organizations.

7) Conclusion:

To conclude it can be said that the new spirit of business must be marked by efficient managerial functions. In today's competitive business world, to build, to develop and to run business means to management functions, to transmit information, opinions and decisions in a well set manner. The functions tools help a lot in business from managers to the employees. Now managerial functions on has become food for organizational success. Today managerial functions and its implications determine the success of a company. Thus, it is very important for an organization to develop a company force by using the latest and advanced managerial techniques. An organization must have an effective functions system for the attainment of extreme success. We hundred percent agree with that sentence the organizations are made up of people, processes and systems all working together to achieve a common goal

PRAVIN CHAUDHARI

ENR 0960280 Page 4

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