Ali Qureshi

BBAl003
Assignment no 04

Question. Detail overview of management functions and ethics ?

e that an individual, a group, a work unit,

or the overall organization
will pursue in the future. Plans are
developed fo
e that an individual, a group, a work unit,
or the overall organization
will pursue in the future. Plans are
developed fo
‘Management Ethics’ is related to social responsiveness of a firm. It is “the discipline dealing
with what is good and bad, or right and wrong, or with moral duty and obligation. It is a
standard of behaviour that guides individual managers in their works”.
“It is the set of moral principles that governs the actions of an individual or a group.”
Business ethics is application of ethical principles to business relationships and activities.
When managers assume social responsibility, it is believed they will do it ethically, that is,
they know what is right and wrong.

Functions of management.
Planning. Managers must navigate the decision-making process to help their team reach company
goals.

Effective planning involves a few important steps:

Identify challenges. Managers need to be aware of the challenges facing their team or business and
what potential solutions are available to them.

Organizing. To complete projects or meet any other company goals, managers must effectively
organize physical, human, and financial resources.

Doing so is often a fine balancing act, as any given team will only have a limited pool of available
workers, funding, and other resources to accomplish their objectives.

Leading. Managers are responsible for motivating team members and providing
the direction to accomplish a business’ goals and objectives.
Effective leadership follows a few key principles:
For a team to meet its goals, each member must understand what their responsibilities entail. It’s up
to managers to communicate these ideas and ensure that everyone is on-board.

Controlling. This function refers not just to controlling people, but total supervision or
management of the team or business in general.

Teams are not always immediately successful in tackling their challenges. It’s up to managers to
identify what caused deviations from the goal and make appropriate changes.