Management Sample Paper on Principles of management

Dear Ms Smith,

I would like to take this opportunity to recommend to you a number of management issues that any young entrepreneur should take into considerations before starting a business and when operating the business as well to ensure success of their business. This letter will address mainly the importance of the components of management that every entrepreneur needs to pay attention to in order to succeed.

Failure to pay attention to the components of management will mean that one fails to do a number of things that will lead to the business failure. These include:

  1. Not developing and sharing the mission of the business. The mission of the business is the reason for the existence of the business. Stating the mission and sharing it with the staff is important because the mission statement defines for managers the general intent of the business and indicates a sense of purpose for the employees and it also projects a good image to the customers. (Carpenter, Bauer and Erdogan 42). If the staffs know the purpose of the business they will be efficient and this will lead to the success of the business. Henry Fayol came up with the functions of management, one of which was planning under which he stated that mission of an organization should be developed at the planning stage.
  2. Failing to arrange the resources in a way that ensures success. Organization of resources will ensure that the task are divided accordingly and assigned to the right persons and that different individuals are also allocated the appropriate equipment to enable them accomplish their work. This organization of tasks will ensure that no time is wasted and that different tasks are assigned to right personnel and the right machine. Minimal wastage and efficiency of personnel since they are allocated the task that they best know how to do will ensure more revenue for the business. One of the fourteen administration principles of Henry Fayol is order. Fayol states that there should be orderly coordination of human and resources in the organization.
  3. Paying less attention to the recruitment procedure and training of staff. Recruitment of employees should be done using the right procedure. This includes job analysis where the information about the job is collected from various sources and the job requirement described precisely. The job should then be advertised to ensure that the job is given to the most qualified person for the job. The hired staff should be occasionally trained because the techniques of providing services keeps changing and become complex as years go by. Training of employees will ensure that your staff have the latest skills and are therefore able to provide better services. Better services will mean customer loyalty and more new customers and hence the growth of the business. One of the major contributors of scientific management theory is Fredrick Taylor. One of Taylor’s major contributions is training and development of workers. He advocated for training of employees to improve productivity and performance.
  4. Assuming that employees will be motivated naturally. In order to achieve desired levels of performance in a business, the employees must be motivated. Motivation will get employees to work willingly and enthusiastically.Different employees are motivated differently depending on their level in the business and on their expectation. According to the expectancy theory by Victor Vroom, employees are motivated by the reward they expect as a result of the effort they put. For example, an employee believes that if they put extra efforts on their work, this will lead to high performance which will in turn leads to rewards. This reward can be in form of increment in salary or even a promotion. Therefore according Vroom a worker’s level of expectancy is his driving force. Therefore employees must be motivated to enable them to work efficiently.
  5. Not defining standards and outcome. The standards and outcome to be achieved should be defined clearly and precisely. These standards must be smartly set, that is they should be specific, measurable, attainable, and realistic and time bound. This will ensure that the employees work hard to achieve the set goals and as a result better performance.
  6. Ignoring positive information. For the success of a business, all positive information must be taken into consideration. This is where communication comes effective.Communications is essential for effective organization performance. Communication should be both from the top to bottom and from bottom to top. One of the Henry Fayol principles is scalar chain which states that commands should be rooted through positions from top to bottom and the chain should not be broken.
  7. Delaying necessary action to improve organization outcome. This will to losses to the organization. Changes in an organization are necessary and hence the employees should be prepared to accept changes. This can be achieved by making them part and parcel of the, training them and motivating them accordingly. This will ensure better performance and hence better results. Fayol also preached initiative where he said that employees should be encouraged to work on their own and come up with ideas whenever they have the opportunity.
  8. Lack of a leader. Failure to have a leader in a team will lead to poor performance because each individual will do what they think is right and therefore the end product will not be a team’s work. With presence of a leader in a group, the group activities will be coordinated and the end result will be teamwork .According to Linkerts system of leadership,Rensis Linkert and his associate studied the pattern of managers for three decades and came up with a four-fold model system one of which was benevolent authoritative. Under this system leaders issue orders to subordinates but the subordinates have a freedom to give their opinion.
  9. Not delegating accordingly. For the success of any business, the work must be delegating to the right persons based on merits and not on how close the person is to the manager. This is because with proper delegation of work, the manager will have less on their plate and thework will be doneefficiently because the person is qualified. According to Max Weber characteristic of bureaucratic organization, an organization can achieve rationality when power and authority are vested on positions and not individuals and therefore work should be delegated to a worker based on merits. (Koontz and O’Donnell 30).

The main functions of management are critical factors to the success of any business. They include; planning, organizing, leading and controlling. Planning is the process of  coming up with mission, goals and objectives and coming up with the strategies to achieve them. (Koontz and O’Donnell 43). Planning is important to any kind of business because of the continuing complexity of business environment and hence the need for continuous planning. Planning also provides basis for decision making and ensures efficient use of resources. Therefore one should plan well before starting a business.

Organizing is another function of management which entails arranging and allocation of jobs among members of a firm to ensure that the required activities are done well and also to ensure that activities fit together so that individuals can work smoothly. (Cole 119). Organizing the activities and personnel of a business is important because it ensures minimal time wastage and efficient usage of materials and machines.

Leading which is the third function of management is the process of directing and influencing tasks  of a team towards attainment of the organization goals and objectives. Leadership is important because it allows coordination of work and this ensures better performance of the organization. (Koontz and O’Donnell 216).

Lastly, controlling function which is defined as the process of measuring actual performance against set standards and taking any corrective measures necessary in case of a deviation from the set goals. Controlling is a very important function of management because it fits into the other three functions that is planning, organizing and leading. Controlling contributes to the achievement of set goals which were set at the planning stage. This is achieved through controlling by comparing the actual results with the projected results and in in case of a deviation, a corrective measure is taken to ensure that the set goals are achieved. Therefore a business success cannot be achieved with planning and no control and vice versa since the two are linked to each other.

Controlling function also fits into the organizing function in that the organizing function involves allocating and arranging task to individuals and then the controlling function comes in and plays the part of budgeting for these resources. This in turn ensures efficient utilization of resources. Control and leadership works hand in hand in any organization. This is so since it’s the leader in a business that controls and influences the activities of a group.

Lastly, timely and accurate information is a very important factor in the success of a business. This is because accurate and timely information will ensure effective decisions making. Accurate information will provide the management team with the right ideas to make decisions and if the information is timely, the decision makers of the business will not panic and hence effective decisions. Timely and accurate information also enables for corrective measures to be taken on time and effectively, this in turn avoids any losses. Potential risks can also be avoided completely or mitigated if the information provided to the management team is timely and accurate. This is because with such information, they will be able to foresee potential risk in good time and come up with possible ways of mitigating, avoiding or transferring such risks.

In a nutshell, the success of a business depends a great deal on its management. Therefore to ensure maximum profit and growth of your business, one needs to pay adequate attention to the functions of management, that is, one needs to do proper planning, organize their resources and personnel in the best way, have the required leadership skills and be able to control the organization well.

Yours Sincerely

(Your name)

Works Cited

Carpenter, Mason, Talya Bauer, and Berrin Erdogan. Principles of management 1.1. Version 1.1 ed. Irvington, NY: Flat World Knowledge, 2010. Print.

Cole, G. A. Management: theory and practice. 7th ed. Andover, UK: South-Western Cengage Learning, 2011. Print.

Koontz Harold and O’Donnell Cyril. Essentials of Management.4th ed. US McGraw-Hill Inc, 1986. Print.