cruiting, developing and rewarding individuals which comes under the function of Staffing while Directing is taken to be the process of influencing employees’ behavior through communication, motivation, leadership and discipline.
The purpose of Controlling is setting the performance bar for not only the employees but also the company’s objectives and actual accomplishments. Even a successful conglomerate such as General Electric (GE) with more than 300,000 employees engaged in 11 technology, services and financial businesses across 160 countries has been focusing and improving on these basic management functions for almost 130 years and continues till date (GE, 2006). It is these very functions that have brought them the success and appreciation which is seen today (Colvin, 2006).
For all aspects of management and the basic principles which a company follows as it conducts its business, a mission statement is quite important (Hellriegel, 2004). GE does not have a stereotypical vision/mission statement to consider as part of their planning function. They appear to believe very strongly in what they call ‘company values’ which is a combined vision-mission statement stated as imagine, solve, build and lead (GE, 2006). These four values interconnect with each other and help build products/services which are winners (Welch, 2005).
A vision cannot be complete if it does not have leadership and the management functions of GE emphasize good leadership very strongly. GE Commercial Finance, Infrastructure, Healthcare, Industrial, Consumer Finance and NBC Universal make up the six broad-based industry segments to put together their combined 11 organizations. To name just a few, the GE divisions offer several consumer and commercial financing programs, water, aviation, medical information technologies, television channels and other entertainment to meet an array of human needs worldwide (GE, 2006).
The organization of these business areas would not have been