The paper 'Handbook of Leadership and Management' is a perfect example of a Management Assignment. It was enjoyable and interesting to learn new terminologies, theories, as well as new concepts in management. My MGT 330 class marked one of the most remarkable experiences in class. Throughout my learning in this unit, I managed to take away several valuable ideas that will have a great impact on my life today and in the future. However, I will online outline three of the most remembered ideas for the purpose of the assignment instructions.
Management functions, levels of management, and business ethics are the three ideas I will discuss below. What are functions of management was the most puzzling question before I entered into management class? Managers are one of the most vital personnel in any organization, and their functions tell it all. A manager will get things moving in an organization, get employees working, as well as oversee a number of activities. All the functions according to Henri Fayol are summarized under 5 functions of management, which are Planning, organizing, staffing, directing, and controlling (Gomez-Mejia, Balkin and Cardy, 20).
It is the function of the management team in any organization to plan for actions either for long term or short term periods, organize all the resources, position the right people at the right time and place, communicate and coordinate all the activities, as well as monitor and evaluate the progress. I believe I was born a leader the knowledge of the functions of management will help me build my career further since leadership involves management. It was also interesting to discover that management is structured into four different levels known as hierarchical levels of management.
Top management is the topmost level in this hierarchy, which entails all the members of the board of directors responsible for setting organizational goals and strategies. It is followed by senior management, which includes all the heads of departments. The middle level is the next level downwards, which includes all managers concerned with the operational management. The last and the lowest level in this hierarchy is junior or lower management, which includes the supervisors, team leader just to mention but a few.
A deep understanding of these levels of management will be of use to me as a future leader to categorize myself and understand what is expected of me under different levels of management in an organization (Juneja). Business ethics are fundamental concerns for any business since they involve the profits of a business and its reputation. Organizations set their own business codes of ethics that must be followed by all employees in the organization in order to avoid actions that may lead to legal problems or that may tarnish the reputation of a company.
The knowledge of some of the most common business ethics will help me in my career as a future leader to avoid legal issues. Part II Wallingford Bowling Centre A). The financial statement of a business helps the business to know its performance for the period. The analysis of the financial Wallingford Bowling center helps in the identification of the problem. For instance, in this case, the problem lies in operating costs. Benchmarking is also another way of identifying the problem that exists in a certain business. For example, James one of the directors of this organization agrees that in comparison with the other businesses in the same industry, the organization operation costs are on track.
Analysis of departmental performance also can help in identifying an existing problem in an organization. Wallingford bowling men leagues do very well and thus forms the biggest percentage of income as compared to other sections. This will assist management in recognizing areas that require improvement in order to enhance the overall performance and reduce operational costs.
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