Functions Of Management Within Their Departments example essay topic

In the 21st century where the fast-paced business environment is always changing and evolving it is important that managers understand and utilize the four functions of management to obtain a successful work environment. Common to all managers are the activities of planning, organizing, leading, and controlling. These functions of management must perform regardless of the industry, the level, or activity in the world. Planning: Planning is setting goals; those that establish procedures and rules. They may be projects, programs, or strategies.

The major purpose of planning is to focus the attention of all involved on a common purpose so that everyone's effort is coordinated. A plan will aid in accomplishing tasks efficiently, and eliminate waste time, effort and most importantly money. Currently at the credit union where I am employed I am not in a management position, not having to utilize the functions of management yet. When I do become in a management position I will use these functions as well as my manager has. Recently at the credit union we were gearing up a huge promotion on car loan rates and needed a plan drawn up to meet our goal and have successful loan growth.

My manager who is the manager of the lending department sat us down as a group and proposed a plan which consisted of our goals, and rules and procedures for the promotion. The plan consisted of adding new loan growth to the credit union by offering a low variable rate on vehicle loans as low as 2.99% for 60 months. The goal was to bring in 1 billion dollars in new loan growth. The rules and procedures were for qualified buyers with good credit, and when approved the member would receive a $25.00 gas card. The planning was successful and the credit union grossed over a billion dollars in new money over two months. Planning in management can ultimately can result in success if it is done precise and with a knowledgeable manager.

Coordination: Coordination is the essence of good management. One of the distinguishing characteristics of a good manager is the skill in the coordination function. Personal communication is the most efficient method of exchanging ideas and agreements. The manager can seek coordination by group meetings, by individual attention or written communication. Employees within the same department influence each other. At the credit union each department within the credit union are close and to have influence on each other.

In the Lending Department we have weekly meetings as a group to coordinate upcoming promotions or just to discuss any issues or concerns pertaining to our department. Our manager possess efficient coordination in our department. We all are apart of coordinating ideas within the department, which tends to lead us in a successful outcome because everyone feels they have had some part in the meeting. Coordinating supports all teams structures concurrently whether it is formal or informal.

Coordination cannot be achieved by command; individuals must be able to understand the part he / she is expected to play in the overall plans. A smooth blending together of all persons within the departments can conclude in efficiency and successful results. Leading: Leading provides clear consistent direction that all team members can refer to whenever they need it. Leading helps team members do their job and brings together important information so teams can make sound decisions. Leading is influencing people's behavior through motivation, communication, and group dynamics and discipline. The leading function gives the manager an active role in employee performance, conduct and accomplishments.

Managers accomplish their objectives through people. Controlling: Controlling is being able to sets rules and procedures for the group. Whether they are for promotions that the group is trying to start or for personal nature for the employees. Employees often view controlling negatively. By nature, controlling often lead management expecting employee behavior to change. Controlling can go both ways when managing, good or bad, it just depends upon the group that the manager is working with.

At the Chaco Credit Union, every level of management utilizes the four functions of management. Once a month we have a staff meeting that is lead by our CEO. This meeting lets us know about where the credit union stands and how employees in each department are performing. This is an informative meeting for the employees and other management also. The meetings usually take place in the beginning of the month so monthly goals can be set. These goals are set by the CEO and the other management uses the functions of management within their departments to break down these goals to individual tasks to the goal is more easily reachable.

Through these functions of management goals can be achieved and result in great success for any company.