Friday, October 4, 2019

Can Amanda Turn Her New Business Around Before It Is Too Late Case Study - 1

Can Amanda Turn Her New Business Around Before It Is Too Late - Case Study Example The four major management functions, planning, organizing, influencing, and controlling, play a significant role in performing the daily activities of an organization. The concept of planning sets specific goals for organizations, managers, and other employees. In the opinion of Pride, Hughes, and Kapoor (2010), planning assists the management team to understand where the organization is, how to make the organization move along the specified path, and when to take appropriate measures to achieve the targeted organizational goals etc (pp.169-170). Elimination of uncertainties, minimization of impulsive and arbitrary decisions, quick resource allocation, effective use of resources, adaptive responses, anticipative action, and integration of various decisions and activities are other benefits usually obtained from planning. According to Hurd, Barcelona, and Meldrum (2008, pp.42-43), ‘organizing’ is an effective functional element of management that assists the firm to achieve the targets set in the planning phase. Organizing aids a firm to distribute the works effectively among its employees. Organizing is essential to clarify the powers of every manager and the way he has to exercise those powers. This practice will also prevent managers from taking unfair advantages of their position. Similarly, work coordination, effective administration, growth and diversification, sense of security, and scope for new changes are some other fruitful outcomes of organizing. A manager’s level of success or failure is determined on the basis of his/her ability to influence people within the particular department. When managerial individuals effectively deploy their influencing skills, they exude a positive energy that would highly motivate their subordinates. This motivation will directly enhance organizational productivity and thereby profitability. In the view of Marquis and Huston (2009, p. 434).

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