The various aspects of the functions of management which are beneficial for managerial decision making - Research Paper Example

?Management Practices at Wendy of the Table of Contents Planning, Leading, Organizing, Staffing, and Controlling 4 ManagementFunctions at Wendy’s 5 Planning at Wendy 6 Organizing at Wendy 7 Staffing at Wendy’s 7 Controlling at Wendy’s 7 Conclusion 8 References 9 Introduction Management is regarded as a social process involving responsibility for effective and economic planning and regulation of operation of an organization in the fulfillment of the tasks and objectives. The functions of management would include allocation of resources, job design and enhancement of product development. It also enables monitoring which is an important aspect of control and design of well laid plans, activities. These functions are very important at each and every level or status. According to George &Terry there are usually four fundamental functions of management which includes planning, organizing, actuating and controlling (Gomez-Mejia, Balkin & Cardy, 2005).According to Henry Fayol to manage is to forecast, plan, organize, command and control. These four functions of function play pivotal role in determining the strategic process and completion of goals and objectives. These functions help in determining and setting goals and objectives and also developing accurate budgeting procedure. In theory the functions of management would be convenient and would not be separable from each other. The various functions of management would be inseparable from each other and affect the performance of each other. Firstly, the author of the study will cover the various aspects of the functions of management which are beneficial for managerial decision making. The study will also cover aspects like how the effective implementation of the principles of management would lead to successful organizational outcomes in Wendy’s. Finally, the study will conclude highlighting the benefits of each and every aspect of the principles of management in Wendy’s fast food restaurant. Planning, Leading, Organizing, Staffing, and Controlling Management functions exist for a particular purpose and that includes manufacturing a product or service, responsibility for a mission accomplishment requires central figure and also to coordinate the primary activities (Chruden & Sherman, 1980). The main objective of the functions of management would be as follows: Strategic High conceptual and low technical High human relations Tactical Moderately conceptual and technical High human relations Operational Low conceptual and high technical High human relations Planning: It is a systematic process in which the management makes managerial decisions about the future activities and the key goals that would be easily pursuable. It deals with designing of future course of action for the accomplishment of predetermined tasks. This deals with the understanding of the manager and contexts in which they operate and this activity starts with the commencement of planning process by examining the company’s operation (Drucker, 1972). Organizing: It shares with similar bonds and other management functions. Organizing helps in perfect job design and outlining the job description activities (Gomez-Mejia, Balkin & Cardy, 2005).Organizing is a process of bringing together resources and people to create products and services. Staffing: This function would enable modifications as new management functions necessitate and evolve. The achievement of the organizational goals through effective and efficient deployment of people is regarded as staffing. This includes filling of several organizational posts by hiring the required and qualified personnel. Controlling: It is regarded as the process of evaluation of the performance of the employees against the established goals. It is also regarded as a creation of methods appropriate to take corrective actions for the improvement in the overall performance of the organization. Effective control system are applied and implemented at every departments, functional area and individual levels. This helps in keeping a check on the internal control procedure. Management Functions at Wendy’s Wendy’s is an international fast food restaurant which was established by Dave Thomas in the year 1969 in Colombo. The company’s stock is listed with NASDAQ and is the world’s third largest quick service hamburger company. The company operates in more than 6500 franchisee which are located in more than 27 countries (Wendy’s, 2013a). The principles related to functions of management form an integral part in Wendy’s because it acts as a guide in developing marketing plans which help improving the existing managerial process. Wendy’s is the only fast food restaurant which has designed the unique product, service agreements and communication plans for improving its relationship and developing opportunities with its suppliers. The partnership relationship between the suppliers and the management is very strong and the functions of management have enabled in design of the partnership model. The partnership model has helped in structuring the relationships with suppliers (Lambert, 2008). Planning at Wendy Planning is given top most priority in Wendy’s where the management focuses on designing program for employees and these programs help in improvement in the existing food products and process. For example the leadership development program incorporated by the management of Wendy’s has enhanced the training and development skills. The top management had promoted three company employees from executive position to corporate strategic planning team (Bliss, 2009). This decision was taken because their inclusion in the leadership development programs had improved their performance and also had a positive impact on the performance of the other employees (QSR, 2000). The management of Wendy’ spends considerable amount of time in developing strategies meant for smooth supply chain and logistic system (Baack, 1998).The planning of development of small management teams in Wendy’s would enable the identification of supplier teams which have the potentiality of meeting the regular need and wants (Lambert, 2008). Complete focus is given on designing a negotiation plan which helps in improvising the internal cost procedure and also cost savings initiative. The management team at Wendy’s focuses on developing a customer service management procedure which is responsible for administering the service and product agreement. Thus, it is observed that planning of a well defined training program had helped in improvement of the existing process. The top management plans to develop further training programs for enhancement of the productivity of the organization. Organizing at Wendy Wendy’s is known for organizing various events which are unique from the other fast food restaurants. The fast food joint specializes in organizing exclusive events like Father’s Day Frosty Weekend Special (Wendy’s, 2013c) and Wendy’s Wonderful Kids (Wendy’s, 2013d) which helps in attracting potential customers and customer retention. The planning of these events is done with thoughtful consideration from the top management. Staffing at Wendy’s Since, the company is a fast food joint the main focus of the company would be to recruit personnel who have the capability of fulfilling elements like timelines, well conversant, cleanliness and various other factors. The company has designed several career related programs for the training purposes for the employees. Presently, the company hires employees for organizational posts like crew positions, restaurant operators, corporate and field officers (Wendy’s, 2013b).The hiring process is very rigorous and is scrutinized extensively by the management. Controlling at Wendy’s The controlling procedure requires intensive scrutiny and checking and the management focuses on evaluating the existing policies. The policies require extensive scrutiny and checking whether the actions conform to the plans and policies of the organization. The food manufacturing process and quality control procedures are checked and monitored constantly by the management team of Wendy’s for the development of high quality fast food. The quality control team ensures that the fast food products are complying with the national health and safety guidelines and also with their quality standards. Conclusion Thus, we can observe that every organization needs radical realignment to the objectives and realities in functional areas like marketing, customer support, sales and customer, new skills capabilities to develop and lead in organizational development. The functions of management are continuously applied to the development of strategic development process and managerial decision making. These principles of management have helped in recruiting the right personnel in Wendy’s, which have the capability of improvising the existing business process and increasing the organization outcome. Accurate staffing procedure has enabled the management of Wendy’s to recruit the correct personnel for the betterment of the organizational procedure. References Baack, D. (1998). Organizational behavior. Houston: Dame Publications. Bliss, W. (2009). Cost of employee turnover. Retrieved from http://www.atstrain.com/research/text%20files/cst-employeeturover.pdf Chruden, H. J., & Sherman A. W. (1980). Personnel management: The utilization of human resources. (6th ed.). Cincinnati: Southwestern. Drucker, P. F. (1972). Management, tasks, responsibilities, practice. New York: Harper and Row. Gomez-Mejia, L. R., Balkin, D. B., & Cardy, R. L. (2005). Management: People, performance, change. (2nd ed.). Boston: McGraw-Hill Irwin. Lambert, D.M. (2008). Supply chain management: Processes, partnerships, performance. Sarasota: Supply Chain Management Inst. Wendy’s. (2013a). About us. Retrieved from http://www.aboutwendys.com/ Wendy’s. (2013b). Careers. Retrieved from http://www.wendys.com/en-us/careers Wendy’s. (2013c). Father's day frosty weekend. Retrieved from http://www.aboutwendys.com/Responsibility/Father-s-Day-Frosty-Weekend/ Wendy’s. (2013d). Wendy’s wonderful kids. Retrieved from http://www.davethomasfoundation.org/what-we-do/wendys-wonderful-kids/ Read More