Examples of Management Functions
Management is really a dream position for most of people. But how many of them actually know what management functions are? Well I will try to help you out with that. I will give you few examples of management functions in those big companies. I will mention the 4 basic functions of management and give you some more examples of what managers do, I will give you some more examples of management functions.
Four basic functions of management are planning, organizing, directing and controlling. This is the famous circle of management functions and there are really many many articles about these four functions. So look around if you want to learn more. Now the next few examples of management functions could also be categorized under one of these four, but are more specific and that’s why I will point them out.
Investment opportunities evaluation is very important decision that management face almost every day. Calculating the net present value and deciding which investments to go through with based on company’s WACC is one example of management functions that is very common.
Motivation of people is also very important management function and it takes a great person to motivate others.
Creating growth strategy is something that managers have to do at least once per year. And as the tempo of capitalism grows, so does the need to create growth strategies more often or at least update them regulary.
Choosing the marketing budget is also something managers have to do. Of course the marketing department helps them with that, but the end decision is up to them.
Well these were few examples of management functions. Take a look at out Management category to find more articles about management and learn about other management functions as well.
Written by: Matt
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Tagged as basic functions of management, control function of management, four basic functions of management, investment opportunities, leading function of management, management, management functions, marketing, marketing budget, motivation, motivation of employees, organizing function of management, planning function of management + Categorized as Economy articles, Ladership & Management