Management, Planning, & Ethics
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1. Explain at least 4 functions of management and give a "real" world example for each function:
2. Explain 2 types of planning...Who (what level) does each type of planning?
3. Explain 3 levels of management...
4. How does question 2 and 3 relate to each other? Give a "real" world example...
5. Define ethics:
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Solution Summary
The solution explains the function of management, gives examples of planning, explains levels of management, and defines ethics.
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1. Four functions of management at my firm include strategic planning (selecting the course of the business over the long term including the types of projects to accept and the level of debt to maintain), organizing labor (defining job duties and hiring the appropriate people for those positions), leading (setting examples for subordinates and giving the proper support, including feedback, to include efficient performance), and managing (setting goals for a department and keeping metrics to determine progress toward these goals).
2. Two types of planning can include budgetary planning and strategic financial planning. The 'C-level' or upper management is generally in charge of strategic planning including financial directives. Although they gain input and feedback from lower levels, the upper management guides the firm over the long term.
The middle managers are typically in charge of the budgetary process with approval or revisions being submitted by upper level management. The middle managers seek the input ...
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