Management Functions - MANAGEMENT FUNCTIONS

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MANAGEMENT FUNCTIONS Managers' activities and responsibilities can be classified into three broad functions:  1.   Planning. 2.   Directing. 3.   Controlling. In performing these functions, managers make decisions that have a significant impact on the  organization. Planning  requires managers to look ahead and to establish objectives. These objectives are often  diverse: maximizing short-term profits and market share, maintaining a commitment to  environmental protection, and contributing to social programs. For example,  Hewlett-Packard , in an  attempt to gain a stronger foothold in the computer industry, has greatly reduced its prices to compete  with  Dell . A key objective of management is to  add value  to the business under its control. Value is  usually measured by the trading price of the company's stock and by the potential selling price of the  company. Directing
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This note was uploaded on 11/08/2011 for the course ACCOUNTING ac 202 taught by Professor - during the Fall '11 term at Montgomery.

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Management Functions - MANAGEMENT FUNCTIONS

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