Business Management
There are four basic functions of management: planning, organizing, leading, and controlling. "Planning consists of setting goals and deciding on courses of action, developing rules and procedures, developing plans (both for the organization and for those who work in it), and forecasting (predicting or projecting what the future holds for the firm). Organizing involves, identifying jobs to be done, hiring people to do them, establishing departments, delegating or pushing authority down to subordinates, establishing a chain of command (in other words, channels of authority and communication), and coordinating the work of subordinates. Leading means influencing other people to get the job done, maintaining morale, molding company culture, and managing conflicts and communication. Controlling, is the function of management that involves setting standards (such as sales quotas or quality standards), comparing actual performance with these standards, and then taking corrective action as required" (p. 3). These four functions of management are implemented daily by my supervisor, in my own position, and throughout my organization.I work at G.E. Capital as a Collections Coordinator, and my supervisor is constantly setting goals for
the team in which I work. He hands out a different contest sheet every day to my team. These contests motivate us to compete, which in turn, helps us to reach the daily goals and penetration rate (amount of calls made by a group daily) for the company. There are many obstacles that my supervisor has had to overcome since I started with this new team. He has had to change the way that our team collects debts, because we were not reaching our penetration rate. Instead of running all of the numbers through a dialer system every day, which usually results in a lot of hang-up calls, he decided to let us call people manually, two out of the five days that we are on the phones. This new idea has resulted in less hang-up calls, because the customer does not have to listen to the automated operator at the beginning of the call. My team and I have been reaching our goals and penetration rate every month with this new collecting style that was implemented by my supervisor. My supervisor also coaches us once a month, to improve our individual collection skills. He secretly monitors each collector and gives feed back on there strong points and weak points, this will eventually create a more effective team and enable us to achieve the company need. It is obvious that the four functions of management (planning, leading, organizing, and controlling) are necessary in all levels of employment within an organizatio
Some common words found in the essay are:
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Approximate Word count = 954
Approximate Pages = 4 (250 words per page double spaced)
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