BBA 2010 Introduction To Business 1 Course Learning Outcome ✓ Solved

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BBA 2010, Introduction to Business 1 Course Learning Outcomes

Upon completion of this unit, students should be able to:

3. Explain management functions of planning, organizing, leading, and controlling.

3.1 Identify management functions.

3.2 Explain management functions.

8. Explain how outsourcing, offshoring, and foreign entities affect the operation of businesses in the United States.

The New York Islanders, Pittsburgh Steelers, Chicago Bulls, New York Yankees, and the Boston Celtics had some things in common. Obviously, all of the aforementioned teams had great players, but they also had excellent coaching and leadership. Just like a professional sports team, businesses are comprised of several individuals who have different jobs and serve in different functions within their organizations. No matter how well they know and do their jobs, they need guidance and direction from a strong leader. Great coaching in sports and great management in business must effectively perform the functions of planning, organizing, leading, staffing, and controlling in order to achieve organizational goals.

This unit lesson will examine each of the management functions in more detail.

Functions of Management in Business

Planning

While all businesses are directly concerned with the here and now, they must also always look towards the future and know that nothing stays the same. To effectively do this requires careful planning. The planning function of management involves activities such as establishing goals and objectives for the organization, devising strategies aimed at reaching established goals and objectives, forecasting, and creating policies that will direct the entire organization toward accomplishing the established goals.

Effective planning can help the organization remain in business for a long time as it, in effect, creates a “road map” for the business to follow. The goal of any business is to make a profit for as long as possible, so planning must be a continuous activity by organizational management. Any firm that operates without effective planning is only setting itself up for failure. As the old saying goes, “failure to plan is planning to fail.” While planning seems to be one of, if not the most vital functions of management, unfortunately, many managers neglect this aspect of their jobs.

What many managers fail to realize is that all other functions of management (organizing, motivating, staffing, and controlling) rest on the planning function. Without proper and effective planning, an organization will not be ready for what the future throws its way. In fact, the most successful organizations are generally the ones that have planned for the future and implemented those plans when necessary, instead of just reacting to events as they occur. In business, as in just about everything else, it is generally better to be proactive than reactive. Planning is one of the most proactive actions businesses and managers can take.

Organizing

The second function of management is organizing. If planning is what creates the road map to organizational success, organizing is what draws out the route for effectively reaching success. According to David (2011), knowing who does what and who reports to whom is essential to organizing.

So, why does it matter who does what and who they report to? All sports teams have a goal of winning as many games as possible so they can reach their particular league’s championship game and, hopefully, win it. While everyone on a team has the basic knowledge of their particular sport, each team member is a “specialist” in some shape or form (e.g., a field goal kicker, a quarterback, or a lineman), and each one of them performs a specific task.

By being organized, team members work together to achieve success. The coach keeps the team organized, ensuring that all individual tasks fit together in an effort to win a game.

Leading

Having well-constructed plans and being highly organized are vital management functions. However, if a manager cannot effectively motivate personnel to carry out tasks, then nothing will get accomplished. Individuals must be motivated to perform their jobs so the organization can effectively reach the goals that it has planned to achieve. Motivating people to perform their jobs is one of the most difficult tasks a manager faces.

It is essential for managers to build rapport with employees to better understand their motivations. Once armed with this knowledge, managers can implement a strategy to direct each employee towards achieving the firm’s objectives. Managers who are motivated themselves can more effectively inspire their teams.

Employee motivation can be assessed through engagement, satisfaction, commitment, and rootedness. Engaged and satisfied employees who are committed to the organization are more likely to remain motivated and help achieve organizational success.

Staffing

The fourth function of management is staffing, which includes recruiting, interviewing, hiring, placing, evaluating, training, and dismissing individuals. This function is important because management must ensure that the right people are in suitable positions within the organization, performing the right jobs at the right time.

Effective staffing practices enable teams to perform at their best. For instance, a baseball coach needs to strategically fill specific positions with players who can respond effectively against the opponent they face. Businesses operate similarly by ensuring that employees are qualified and performing well in their roles. Continuous assessment at all organizational levels ensures that the business can meet its goals.

Controlling

The final management function is controlling, which encompasses establishing performance standards, measuring performance, comparing actual performance with plans, and implementing corrective actions when necessary. Control does not equate to micromanagement but rather ensures organizational activities adhere to established standards.

Control enables the identification of strengths and weaknesses, allowing for continuous improvement and adaptability to changes in the business environment.

International Management

International management involves the management of business operations in multiple countries. While the basic management functions remain the same, the complexity of managing operations globally introduces additional risks and challenges.

Economic, legal-political, ethical, and socio-cultural factors can complicate international operations. Nevertheless, global engagement is often driven by the pursuit of lower costs and broader market opportunities. Global outsourcing has become a pivotal strategy in this context.

Some critics argue that global outsourcing may reduce jobs domestically, while proponents highlight its potential to stimulate economic growth in developing nations.

Conclusion

Understanding the management functions of planning, organizing, leading, staffing, and controlling is crucial for effective business operations. In today’s globally interconnected world, these functions must adapt to meet both domestic and international challenges.

References

• Bovée, C. L., & Thill, J. V. (2013). Business in action (6th ed.). Upper Saddle River, NJ: Pearson.
• David, F. R. (2011). Strategic management: Concepts and cases (13th ed.). Upper Saddle River, NJ: Pearson.
• Beazley, H., Boenisch, J., & Harden, D. (2003). Knowledge continuity: The new management function. Journal of Organizational Excellence, 22(3), 65-81.
• Martin, B. (2008). Staffing choices. Fire Chief, 52(3), 58-62.
• Messmer, M. (2010). Flexible staffing options offer advantages year in and year out. Business Credit, 112(5), 38-39.
• Tulacz, G. J. (2016). Owner outsourcing rises. ENR: Engineering News-Record, 43-47.
• Wheatley, M. (2013). Bringing it all back home. Automotive Logistics, 16(4), 54-57.
• Jones, G. R. (2010). Organizational Theory, Design, and Change (6th ed.). Upper Saddle River, NJ: Pearson.
• Clegg, S. R., & Taylor, R. (2002). Principles of Organizational Behavior. New York, NY: McGraw-Hill.
• Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2013). Strategic Management: Concepts and Cases: competitiveness and globalization (10th ed.). Stamford, CT: Cengage Learning.

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