MGT 430 Unit 2 IP - 1 Unit 2 Individual Project Lorraine...

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1 Unit 2 Individual Project Lorraine Huff American InterContinental University MGT430-1003B-01: Business Management August 1, 2010
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2 Abstract Management in today’s business world use different leadership strategies so that they might achieve a similar outcome; a successful business organization. There are four main functions of management; planning, organizing, leading and controlling. Each of these functions are equally important and all must be used in management if the organization hopes for any type of business success. This paper will discuss the importance of each function. Roles of Managers Without decision makers, organizations of any type would undoubtedly fall unto ruin. Managers are the key players in the decision making process for organizations. Each manager has three main roles that they must identify with to be successful. First, they must be interpersonal. This means that they succeed in getting tasks accomplished through other people’s efforts by providing leadership, building relationships with the people, and acting as a go between for their organizations within and outside of the company. Next, they must be informational, meaning that they must gather and distribute any and all information that the organization needs. Finally, they must be decisional, meaning they must know how to make decisions that will be helpful to the organization and also know how to delegate the authority that they have been given. The Planning Function The planning function is used by managers to engage in any change for strategies or goals for the organization. Part of this strategy is to create a business model. A business model is an outline of how the organization will generate revenue. There are seven basic steps to planning
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This note was uploaded on 01/18/2012 for the course MGT 430 taught by Professor Kimberlybennett during the Spring '10 term at American InterContinental University.

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MGT 430 Unit 2 IP - 1 Unit 2 Individual Project Lorraine...

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