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Functions of Management.

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Introduction

Functions of Management Mindy Lamont University of Phoenix XBSADB01/MGT 330 Gene Hewett, Ph.D. December 13, 2003 Functions of Management There are four functions of management: planning, organizing, leading, and controlling. * "Planning: Planning is setting goals and deciding on courses of action, developing rules and procedures, developing plans (both for the organization and for those who work in it), forecasting (predicting or projecting what the future holds for the firm). * Organizing: Organizing is identifying jobs to be done, hiring people to do them, establishing departments, delegating or pushing authority down to subordinates, establishing a chain of command (in other words, channels of authority and communication), and coordinating the work of subordinates. * Leading: Leading means influencing other people to get the job done, maintaining morale, molding company culture, and managing conflicts and communication. * Controlling: Controlling is setting standards (such as sales quotas or quality standards), comparing actual performance with these standards, and then taking corrective action as required." ...read more.

Middle

As well, staff development goals are put in place at the beginning of the year to be worked through by year end, with a performance measure and bonus dollars tied to these areas, both for staff employees and myself. Organizing Organization at AXA is in a constant state of flux. In a rapidly changing and evolving industry such as financial services, departments and structure are always trying to keep up with business needs. While the company has tried to move away from a matrix management model, with the rate of organizational change, it is almost unavoidable, as departments, and their members will continue to evolve and move around within the company. Supervisors within my department are a vital part of the organizational process within our six branch locations. They are continually working through people and markets to best serve our current and future needs. Analysis of both external and internal opportunities allows us to be pro active in reaching growth goals. Where the organizing reaches my role is in the processing of organizational change. ...read more.

Conclusion

I lead the staff managers to better their skills and help them manage their branch staff employees. I lead training programs that allow for information sharing to better everyone within our division and I approach every conversation I have with a leadership mentality to provide a feeling of security throughout our division. Controlling In our company, control has many definitions. While all levels of management work to set policy and procedure and attempt to maintain adherence to those concepts, we also have regulatory concerns that create much administratia and effort. These concerns fall under the title of "compliance" and are not to be taken lightly, as the NASD and the SEC monitor them. My superiors are involved in all aspects of control, as they oversee our entire division and have influence in sales, operational and compliance procedures. They are the decision-makers on a local level, but are also often the messengers to corporate in times of exception requests. In my role, compliance is not a part of my world, but operational procedure and policies are my responsibility. While creating both procedure and policy, I must maintain adherence at all staff levels. ...read more.

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