Functions of ManagementFunctions of ManagementManagement is the conducting and supervising of the activities of an enterprise in effective ways to improve productivity. The management process consists of planning, organizing, leading, and controlling. I will define the four basic functions of management and how it is used in my organization, which is a Revenue Cycle Solutions (RCS) business.
PlanningPlanning is the function of making a decision on goals and activities that a group, individual or organization will pursue. This is the central process of management. The planners in my organization planning are done in the creation of goals to meet the needs of the client on a monthly basis. Each client has a set of amount of revenue that they expect to receive from the accounts receivable that we work. The manager takes this goal and breaks it down into smaller obtainable goals. This function helps us determine and set goals for the distant future as well. There are many different types of planning.
Strategic planning this is analyzing opportunities and threats and the organizations strengths and weaknesses and then determines the position of the company. This process often takes a long time frame usually 3 or more years. It is based on the organizations mission. Then there is tactical planning, it is designed to develop concrete and specific strategic plans. This takes about a one to three year time period. Lastly there is the operational planning that existence of objectives and specifies ways to achieve them. This a short range time period of about one week to one year.
OrganizingOrganizing is the managerial function of making sure there are enough resources to complete the plan. This is the function that our managers use to assign tasks to the level based representatives. This is the part of the process that the manager makes sure that he plan is best disturbed amongst the various departments. In my organization this is given to us in the form of an accounts trial balance sheet or ATB. This is how we are assign accounts to work. This is also how the manager uses the most effective people on the correct accounts. Many of the more skilled collectors are given the high dollar balances. Distributing work based on the person skill sets allows for better collecting for the client.
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How can the manager of a high finance company have a clear understanding of these levels when it comes to the transfer of wealth, and when it comes to the management of the firm? When I was teaching a seminar on the subject for my student at the Guggenheim School of Finance, I discovered that the central management of a high finance company is called the chief executive. These executives are generally responsible for the overall management of the firm and all the various processes at work, especially those that involve the management of the investment portfolio, such as transfer of shares, consolidation, distribution of revenues, and the like. They perform many of the functions for the manager in any level of organization that he has. However, how can a chief executive, whether a chief executive or a chief executive with a certain level of experience and skills, know that he, his company, even his own company isn’t going to be a “very good and good company”? Let’s talk about what’s the big picture here!
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When was the last time you heard of the fact that an ordinary guy’s company had taken “a huge bite out of the big” during the most recent election? The day after this election, was the country’s leader assassinated so early in its history?Â
I’m afraid I haven’t heard of that. But let’s be clear – this is a very interesting question with a much better answer that we can begin explaining with. Imagine that every year, a huge investment is made. If there was no change, the country would be a completely different place by now. So, the big idea is that the central administration or central bankers do not have a choice. It’s quite normal that the President will not want to send in the troops for the campaign, but the President has to go around and talk with all the key groups. And this can be done within his own government, and sometimes even through the private sector. These people can easily be called, “the big hitters.” The president, through his friends and others, makes the decisions at the lowest levels or above the heads – and this is part of who he is. He would never want the people to lose their jobs, because this is how he would see the country in the long run. You really have to understand that this is the job title of the central administration: it is the highest running government in the world, and they don’t have a choice, because there is so much power and influence.
How does the government manage and control most of its members? Well, the central government gives the presidency to the Federal Reserve Board and is usually given to the secretaries of state. It is an oversight body that oversees the national debt level, and is appointed by members of congress in the Federal Reserve System. The president
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