Principals of Management.

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PRINCIPALS OF MANAGEMENT

ASSIGNMENT #1:

“GEORGE FISHER WORKS TO TURNAROUND KODAK”

1. Categorize each of Fisher’s activities according to the four functions of management: planning, organizing, leading and controlling.

Management is the process of achieving the objectives of the business by using its available resources effectively. Management has been described to have four main functions namely planning, organizing, leading and controlling. George fisher’s activities while working at Kodak can be categorized into these four functions.

PLANNING

        Planning involves setting goals and strategizing for the future and deciding the most efficient way to obtain them. The new CEO has big plans and new goals for organization.

  • Fisher has his own vision for Kodak. He is one of the big advocates of for the development of Kodak’s digital imagery. He does not deny the fact that the firms current business i.e., photographic technology is very important at the moment but he believes that investment in the new field will open up new doors and future profits.  
  • Before Kodak had a rather bureaucratic culture, which laid a lot of emphasis on the hierarchical structure of Kodak. Fisher however is trying to change all that, he believes that this culture is inappropriate for an organization facing a lot of competition. Fisher wishes to set tough goals and then wants his managers to achieve them in their own way and encouraging innovation and creativity.
  • George has also put expanding into international market on his list of things to do. He wants Kodak to do better in the dynamic markets of Asia, Russia, Brazil and India.

ORGANIZING

        Organizing involves the implementation of the goals laid out in the planning function. Here all factors of production are allocated and arranged according to the goals and strategies.

  • Fisher sold of Kodak’s health and home division to pay of the company’s debt.
  • Following his goal to expand Kodak’s business into the digital imaging direction, fisher set up a new digital division using widespread resources already available in the firm.
  • He also went ahead to hired a new executive from the digital equipment corp. to head his new digital division.
  • Several product and service alliances were also made to gain a competitive technological edge over the competition already present in the digital imagery market.
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LEADING

        The third function of management involves communicating the organizations goals to employees, helping them ahcive these goals, motivating them and encouraging change and innovation.

  • Firstly fisher is working on changing the culture of the company. He encouraged innovation by giving his managers the freedom to carry out goals laid by fisher in the fashion that the managers wanted to.
  • To get rid of the bureaucratic structure of Kodak Fisher did some other things that the previous CEO did not do. He made himself more accessible to his employees, making regular visits to his research’s offices, ...

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