Planning FunctionOrganizing Function By David Savodge Tj Bode Kevin
Planning Function • The management function is to plan for the company’s future based on shareholder expectations which are generally to make high profits in order to pay out high dividends. • Therefore, management needs to strategize to maximize revenues and control costs. The management might also be concerned with its own purposes, so senior executives might let profit making slide in favor or taking out high salaries and fringe benefits for themselves.
Planning • -It decides the goals and actions a company has to meet • The ceo sets a goal of increasing sales by 10% in the next year by developing a new software program.
Organizing • Groups related activities together and assigns employees to perform them • A manager sets up a team of employees yo restock an aisle in a supermarket.