W2 Functions of Management
03.
Functions of Management Paper
Kristopher Watkins, Jovita Romo, Tatesha Thomas, Markea Walker-Brown
Kathryn Shanosk, Michelle White, Tyrell Hall
MGT/312
February 16, 2015
Armand Di Cianni
Functions of Management Paper
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 include 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 operate 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. 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 new movie theaters, restaurants, gaming outlets and other areas that attracted young people.
Organizing
Organizing is the second function of management. It helps management to organize resources in an organization for achievement of the set goals and objectives from the planning stage. The manager will create charts, establish reporting relationships, and develop a team to handle administrative duties to accomplish the work. Organizing makes sure the plan gets off to a good start.
Leading
The third function is leading. Leading is motivating and encouraging employees to achieve a higher performance while achieving their goals. By leading, managers provide advice and support
Functions of Management Paper
Kristopher Watkins, Jovita Romo, Tatesha Thomas, Markea Walker-Brown
Kathryn Shanosk, Michelle White, Tyrell Hall
MGT/312
February 16, 2015
Armand Di Cianni
Functions of Management Paper
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 include 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 operate 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. 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 new movie theaters, restaurants, gaming outlets and other areas that attracted young people.
Organizing
Organizing is the second function of management. It helps management to organize resources in an organization for achievement of the set goals and objectives from the planning stage. The manager will create charts, establish reporting relationships, and develop a team to handle administrative duties to accomplish the work. Organizing makes sure the plan gets off to a good start.
Leading
The third function is leading. Leading is motivating and encouraging employees to achieve a higher performance while achieving their goals. By leading, managers provide advice and support
References: About The Company. (2015). Retrieved from Foot Locker, Inc.: http://www.footlocker-inc.com/company.cfm?page=about