Management Principles : Roles Of Management Essay
February 9, 2016
Los Angeles Film School
Effective and efficient management requires managers to apply the four basic managerial functions. Summarized as the P-O-L-C figure, planning, organizing, leading, and controlling are highly incorporated when used in the day-to-day realities of running a business. This essay will discuss the four management functions and provide examples to further elaborate on how these principles apply to existing businesses.
Management Principles: Roles of Management
Good management is key to a business’ growth, success, and maintenance of success. By working through others, management learns how to establish a business’ competitive advantage in the most efficient and effective way possible. According to Vineet Nayar, the former CEO and Vice Chairman of HCL Technologies (a $5.5 billion Global Technology Services Company), as well as being the Founder of Sampark Foundation and Comnet, “My job is to make sure everybody is enabled to do what they do well.” He is driven to lead his team with an upside down approach to the conventional management by putting the employees first and then the consumers second. His method more than tripled the employee base and net income and doubled the market cap. (Nayar, 2015) In 1860, Henri Fayol, CEO of a large steel company, developed the general theory of business management. He believed that managers need specific roles to be…