The Foundation of Management Theory Essay Example | Topics and Well Written Essays - 1750 words

The Foundation of Management Theory - Essay ExampleThe conduct consumer good company, Procter and Gamble (P&G), has recently planned to take a few more weeks to pay ass its suppliers. The amount is $ 2 billion and thus, the company has planned to arrange the cash by taking up wise cash management practices. b) Glaxo Smith Klines (GSK) management has planned to put an end to the manic expansion of the brand, Horlicks and focus on launching new varieties in the biscuits segment. 2) Organizing is the next step which follows planning. Organization of the resources operator bringing them together and employing them in the right place, thereby achieving the goals of the company. It is a process as well as a structure. It deals with arranging the ways for kill the plans of the business for attaining its goals. It gives an appropriate structure to the administration of the organization and deeds hard for its future improvement. It involves different aspects like a span of control, segr egation of departments, foundation of superior-subordinate relationships, a delegating of authority and provision for coordinating a range of business activities. Examples a) Organization of the necessary resources is needed for executing a successful plan. In the case of P&G, it is important to collect all the financial entropy of the company and make the decision of extending the credit period for the suppliers. Thus, the organization of the proper resources is required in this case. b) The wide market survey of GSK regarding the expansion of Horlicks has made them aware of the fact that the process of extension is becoming chaotic. Thus, the information is organized properly in order to take the decision for ceasing the extension of the brand. 3) Staffing Staffing can be referred to as the requirement of men for executing certain business plans. Staffing is a part of the managerial function consists of selection, recruitment, prepare and development, performance appraisal a nd determination of salaries and wages. The requirement of this process arises at the initial stage and there is a regular need for time to time replacement of the staffs along with diversification and expansion of the business activities (Morden, 2004). The staple fiber need of every business is the stable, efficient and cooperative staff for management of the business activities. Thus, it can be deducted that manpower is a significant asset for the business unit. In most of the organizations, the development and planning activities of manpower are delegated to the human resource department managers and the personnel manager (Griffin, 2006). Right man for the right crinkle is the main principle for the staffing process, successful operation of the organization is dependent on the skillful labor (Griffin, 2006). Examples 4) overbearing Controlling is referred to as the most vital function of the management. It is highly necessary in the case of individuals and departments so as t o avoid wrong actions and activities. Controlling includes three broad aspects namely, setting up benchmarks of performance, evaluating work-in-progress and inferring results achieved and lastly, taking sanative actions when required.