Managerial Functions Within Foot Locker Inc
Managerial Functions within Foot Locker, Inc.
Kristopher Watkins, Jovita Romo, Tatesha Thomas, Markea Walker-Brown
Kathryn Shanosk, Michelle White, Tyrell Hall
MGT/312
February 16, 2015
Armand Di Cianni
Managerial Functions within Foot Locker, Inc.
All organizations have a set of goals in place to achieve company success. Effective management allows the company to operate efficiently. The cycle of management functions includes planning, organizing, leading, and controlling. As a leading global retailer of athletically inspired shoes and apparel, Foot Locker, Inc. uses these vital managerial techniques to ensure each of their 3,473 athletic retail stores operates successfully.
Four Functions of Management
Planning
Planning provides a sense of direction and purpose. All managers use the planning strategy to develop goals and courses of action, establish rules and procedures, and to forecast future outcomes. Planning requires management to evaluate, both internally and externally, the current state of the company and where it will be in the future. “Planning is a process consisting of several steps. The process begins with environmental scanning, which simply means that planners must be aware of the critical contingencies facing their organization in terms of economic conditions, their competitors, and their customers. Planners must then attempt to forecast future conditions. These forecasts form the basis for planning” (Barnett, 2006)
In 2001, the Venator’s board named Matthew Serra COO and he started planning to establish chain stores for Foot Locker when he changed the Venator Corporation. Mr. Serra wanted to capture sales from people who were looking for entertainment, so he decided to place stores in new movie theaters, restaurants, gaming outlets and other areas that attracted young people.
Organizing Organizing is the second function of management. “To organize is to create a specific order among individuals or organizations, to attribute certain
Kristopher Watkins, Jovita Romo, Tatesha Thomas, Markea Walker-Brown
Kathryn Shanosk, Michelle White, Tyrell Hall
MGT/312
February 16, 2015
Armand Di Cianni
Managerial Functions within Foot Locker, Inc.
All organizations have a set of goals in place to achieve company success. Effective management allows the company to operate efficiently. The cycle of management functions includes planning, organizing, leading, and controlling. As a leading global retailer of athletically inspired shoes and apparel, Foot Locker, Inc. uses these vital managerial techniques to ensure each of their 3,473 athletic retail stores operates successfully.
Four Functions of Management
Planning
Planning provides a sense of direction and purpose. All managers use the planning strategy to develop goals and courses of action, establish rules and procedures, and to forecast future outcomes. Planning requires management to evaluate, both internally and externally, the current state of the company and where it will be in the future. “Planning is a process consisting of several steps. The process begins with environmental scanning, which simply means that planners must be aware of the critical contingencies facing their organization in terms of economic conditions, their competitors, and their customers. Planners must then attempt to forecast future conditions. These forecasts form the basis for planning” (Barnett, 2006)
In 2001, the Venator’s board named Matthew Serra COO and he started planning to establish chain stores for Foot Locker when he changed the Venator Corporation. Mr. Serra wanted to capture sales from people who were looking for entertainment, so he decided to place stores in new movie theaters, restaurants, gaming outlets and other areas that attracted young people.
Organizing Organizing is the second function of management. “To organize is to create a specific order among individuals or organizations, to attribute certain
References: About The Company. (2015). Retrieved from Foot Locker, Inc.: http://www.footlocker-inc.com/company.cfm?page=about Barnett, Tim. "Management Functions." Encyclopedia of Management. Ed. Marilyn M. Helms. 5th ed. Detroit: Gale, 2006. 493-495. Web. 14 Feb. 2015. http://go.galegroup.com.ezproxy.apollolibrary.com/ps/i.do?id=GALE%7CCX344630&v=2.1&u=uphoenix&it=r&p=GVRL&sw=w&asid=fc14cc52798938b657eeae1a86c0017c635f Ahrne, G., & Brunson, N. H. (2007). Organizing Organizations. Organization, p. 1-6.