Functions of Management | Reflective Essay

Functions of Management contemplative Essay roughly Management ProcessesFrom the Business Strategy Game, I conditi nonp beild that first key process for a family to de marginine its coming(prenominal) business path was to set a strategical and realistic think about what is the smart set goal, how long the goal bequeath be pass ond and how to achieve the goal among the competition. In setting the devise, phoner should define first what is their delegating parameter or strategic vision. This mission statement is a statement which indicates the purposes and activities of the corporations business/goals in brief, trenchant-cut and focus words. Along with mission statement, guild must catchly define its objectives quantitatively within certain period. From these quantitative objectives, familiarity could set a realistic and attainable long term strategic planning to allocate budget and resources in the compevery. In strategic planning, company should define intelligibl y its target market, financial objective and matched position among the industry. This strategic planning will be the direction of the company in slip awayning its business.After setting the strategic planning, company should creation an organization structure to distinguish the company effectively, by designating soulfulnesss who will in charge in from from each one one uses and held responsibility in each area of the business in the company (marketing, finance, operation, sales and so on), peculiarly the person who will be responsible as the leader of the company (as CEO). The role of CEO is very essential because he/she must lead company to the aright direction in implementing company strategy to achieve companys objectives. From the clear and effective organization structure, CEO and care will have clear legitimation and authority in directing all resources in the company to implement the companys strategy.Finally, the company should closely and intensively controll ing and monitoring the consummation of the strategy during implementation to assess its progress against the pre-defined targets and ensure that all the company elements were doing their parts and responsibility in the right track.About Management FunctionsIn a company, management should establish the right and important functions which will run the company operational activities, define what are the responsibilities of each functions and ensure that each functions performed in accordance with the company objectives. In order to give more value to the company in terms of profitability, management should work unneurotic to set a strategy in making companys out rig (product or services) more competitive in the market by considering all aspects involved. As an example, to gain more profitability company could set pricing strategy to be higher or lower compare to market plainly before decided the price, company should consider other aspects such as costs, quality and resources need ed in creation of the product or services.About Working in TeamsIn working as a group member in the company, it is very important to determine a clear designation about who will act as the leader and the follower. Because if theres no clear designation, potentially will cause the resources in the company to can to the wrong direction and this will destruct company effort in achieving its objectives. As a leader, a person should show the ability to manage and to coach the entire team member to do their tasks properly, and he/she should has willingness to attend and appreciation to his/her followers insights at the same time. And as a follower, one should give respect to the leader and obey the leader conclusions. But it is important too for the company to define what is the follower assignment and designation, because if it is non clearly defined, the follower couldnt perform nor contributed optimally in attaining companys objective process.What I plan to do in my work place fro m the experience and lessons I took from the BSG are As the leader of my unitI will throw up more effort to be an effective and efficient leader of my unit and will put more awareness to all my team member that our jobs especially in designing the most efficient operational work menstruum in my company has essential move in saving the company budget and optimizing company resources which will contributed in achieving the companys objective especially in financial aspect and giving more value to the customer and shareholder. And furthermore I will spend more time and effort to approximate designation and job description for each member of my team, to put the right person to the right job and responsibility. If the designation and job description were not fit or not clear to the team member, it will impact to the performance of the working unit itself because each team member do not know exactly what is their role in their working unit.As a member of my management teamI will put more consideration and attention about financial impact of any decision that my management made. From the BSG, I see that all activities in each working unit must be contributed and affected to the company strategic planning especially in achieving financial goals. And I will put more respect to any member and any decision of my management team made, even though sometimes the decision seems to be operose to be implement, I will try to see it from wider perspective that the decision must be made deliberately and considered many important aspects which closing is to give more value for the company.