Shantel Lowry Module 1 Writing Assignment 1-5. Using any of the popular business periodicals (such as Bloomberg BusinessWeek, Fortune, Wall Street Journal, Fast Company ), find examples of managers doing each of the four management functions. Write up a description and explain how these are examples of that function. The first step in the four functions of management is planning. This step consists of defining goals, establishing strategy, and developing plans to coordinate activities. Researching this step lead me to an article about Macy’s. It’s no secret that brick-and-mortars have been closing because of the consumer preference for online shopping. Macy’s itself was forced to close 100 stores due to falling sales. That is where Gennette, President of Macy’s, steps in and outlines a plan for their turnaround. During an investor’s conference, Gennette acknowledged that the company needed a new, fresh start to compete with other giants such as Amazon. He unveiled a plan that will be “based less on discounting and more on being a fashion destination, with a bigger emphasis on its own brands but with enhanced presentation of outside brands it does carry and a rethinking of the role of stores in Macy’s future,” (Wahba). This shows that Gennette and his team have set up a plan on what changes should be made and how they can increase their sales and compete in the market. The second step in the four functions of management is organizing. This includes determining what tasks are to be done, who is to do them, how the tasks are to be grouped, who reports to whom, and who will make decisions. Reading this definition, I instantly thought of
Apple. It’s well-known that Steve Jobs was a micro-manager and led an organized team throughout his career as Apple CEO.
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- Fall '16
- Keith Moore
- Management, Business Insider