Free The Functions of Management Essay Sample
The management plays key roles on the running of the business. Some of the functions that come with management include: Planning, Leading, Organising and controlling. The execution of these functions will definitely determine the difference between a good manager and the ordinary type managers. A good manager will definitely look at the situation on the ground and also apply logics before making any decisions.
Planning being the most important and the first to be observed can not be underplayed. It involves putting everything, mostly on paper, on what needs to be done and using what resources. It also involves the method of Production. Organising involves the bringing together of the various elements in production. Since production involves use of manpower and the physical resources. The arrangement of how duty will be carried out for example is part of the organising function of the management.
Leading .This is a key role that the manager has to play in production. Considering the manager as the leader, the best leadership that he or she can offer his or her juniors is not an imposed one by the virtue of office but one that has to do with being an example. Controlling is a function of the management that entails ensuring that all the factors of production are working according to the required conditions. It involves making adjustments on expenditures and even inputs. The output for example of perishable goods will demand that the manager orders for reduction if the level of consumption goes down.
Considering the business decision situation given above, I find it from my managerial consideration that the second option of establishing assembly only operation with components purchased from local vendors to be viable. This is after I have done the SWOT analysis of the three options given to me.
Establishing manufacturing of all components and final assembly seemed to be a good option to me but I couldn’t opt for it. While this option if well executed could result to huge profits, my lack of knowledge on the manufacturing of the appliances does not allow me to root for this option. This is in bid to avoid teething problems that come with managing the manufacturing bit. The process is also very costly yet my financial capability is likely not to be up, to the task.
The last option seems to be very relevant to my situation considering the financial implications, but on the business ground no. I had to do away with the option of outsourcing the entire manufacturing operation to an offshore company since my business ideas would be put at risk of being taken over by other entities. This is because I at the moment don’t have the definite manufacturing layout that can make me to claim ownership of the idea I have. As such I will root for the second option since Manufacturing of the materials would just be partly done by the local vendors whom I can monitor. It would be a little bit more strenuous for me financially to go for the second option but id rather I do it than risk loosing the whole of my business idea.
The local vendors that would help in getting components for the make of the appliances would provide for me a good basis with which I can learn and plan for doing all the manufacturing on my own.