b Operations These are responsible for actually creating the goods and services

B operations these are responsible for actually

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b) Operations These are responsible for actually creating the goods and services of the organization. Other responsibilities for these managers include production control, inventory control and plant layout.
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18 c) Finance Managers Are responsible for managing the Financial Assets of the organization. They oversee the firms accounting systems, manage investments, control disbursement, and maintain and provide relevant information to the CEO about the Financial Health of the company. d) Human Resource Managers (HRM) These are responsible for determining future human resource needs, recruiting, hiring, compensation, performance appraisal and ensuring that the various legal guidelines governing employment are followed. Management Functions The management functions are the separate parts (activities) that make up the whole process of management. They can be described as the activities that are inherent in most management jobs. Many of these activities can be grouped into one of the following general functions. a) Planning Planning involves determining the organizations goals and the best ways of reaching them. Plans permit: i. The organization to obtain and commit the resources required to reach its objectives. ii. Members of the organizations to carry on activities in line with the chosen objectives. iii. Monitoring of progress towards the objectives with view of taking corrective action. b) Organizing This is the second basic managerial function and it is the process of grouping activities and resources in a logical and appropriate fashion. Basically it is creating the organizational chart for a firm. (Determining the structure of the organization - the jobs to be done, who is to do them, how the jobs are to be grouped, how much authority each manager is to have and how many employees each is to supervise).
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19 c) Leading Is the set of processes associated with guiding and directing employees towards goal attainment. Attempt to assure that the organization is moving towards its goals. It includes motivation, leadership and communication. d) Controlling This is the final basic management function and it is the process of monitoring and adjusting organizational activities towards goal attainment. Successful management Successful management involves the achievement of both efficiency and effectiveness. Efficiency means that resources are used in such a way that they are not wasted. Having employees sitting idle waiting to be allocated work is an example of inefficiency. Another example is allowing large surpluses of funds to sit idle in bank accounts earning little interest. Effectiveness means doing the right things in the right way at the right time. For example entering a new market just before it starts to expand or exiting from a market just as it starts to decline is a sign of effectiveness.
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