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Organizing Functions of Management Monetary and Human Resources are two important intricate factors that relate to business. These factors help organize a business and determine the route a business must take.

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Introduction

Organizing Functions of Management Chase Dodson University of Phoenix Management Theory: Theory, Practice, and Application / MGT 330 Mr. Cornell S. McGee III January 16, 2005 Organizing Functions of Management Monetary and Human Resources are two important intricate factors that relate to business. These factors help organize a business and determine the route a business must take. When it comes to the monetary function of a business the organization must notice the need and structure it must take. It is possible for a business to fail if it does not have their money factors in order. The Monetary function of a business depends on the Management skills and assertiveness of the staff. Knowing the Monetary goal of the business or knowing what the business has to do to reach that monetary goal can be the whole purpose and function of your business. Business can thrive successfully when profit is made and without that profit failure is in inevitable. Human Resources is the essential part of a business the examples of what actions that are in Human Resources are staffing; such as background checks, hiring, firing, and training employees. This organizational function can be an important part of a company. It is organized in such an astounding fashion that the business sector wants to survive. ...read more.

Middle

Southwest added Philadelphia to its route system in May 2004, which increased its growth at Chicago Midway airport. In fourth quarter 2004, Southwest Airline was the winning bidder at a bankruptcy court approved auction for certain ATA Airlines, Inc. assets which ensures Southwest can continue to add low-fare services in Chicago. As part of the transaction Southwest agreed to pay $40million for certain ATA assets, such as leasehold rights to six ATA Chicago Midway Airport gates and to an aircraft maintenance hanger at Midway. Southwest and ATA have also agreed to a code-share arrangement, in which each carrier will exchange passengers on select routes at Midway. Southwest believes this agreement could result in additional revenue of $25 million to $50 million, annually. Because of management devotion to continuing to make Southwest Airline a success, Southwest is able to acquire and enforce different cost saving measures to increase the company's productivity and revenue. By implementing these factors Southwest was able to increase net income for 2004 by $15 million, which was primarily due to higher revenues from the company's fleet growth and addition of capacity, which slightly exceeded higher cost. Operating income increased for Southwest Airlines by $71 million, and operating revenues $593 million, due to a 94 percent increase in passenger revenue. ...read more.

Conclusion

Creativity and innovation are encouraged for improving the effectiveness of Southwest Airlines. Above all, Employees will be provided the same concern, respect, and caring attitude within the organization that they are expected to share externally with every Southwest Customer." (Southwest Airlines, 2004) Southwest Airlines maintains its employee base with such benefits as profit sharing, 401K, and each month Southwest Airlines selects an outstanding employee to be the Star of the Month in Southwest Airlines Spirit Magazine (Southwest Airlines, 2004). Most airlines follow this organizational structure for their human recourse departments Human Resources and the monetary organizations functions a vital part of the business sector. The Human Resource department functions as a service to employees and their personal matters within the company. The department is organized to follow the needs of the people with in the company. The basic function of this structure is not only to serve the people in the company but to breakdown legal and monetary matters that people might have. A monetary function of a business is the only way a business can thrive or fail. Without accurate knowledge or handling of the monetary funds the business cannot flourish. Reference Southwest Airlines Co. 2004 Annual Report. Retrieved January 11, 2005 from http://www.southwest.com/investor_relations/annual_reports.html Southwest Airlines. (2004). Retrieved Jan. 17, 2006, from www.southwest.com. ?? ?? ?? ?? Organizing Functions of Management - 1 - ...read more.

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