Unit 2 Individual Project

Business Management and Leadership

 Four important elements of Management:
 Planning
 Organizing
 Leadership
 Controlling
Elements of Planning
Strategic and tactical plan is the blueprint for a company's work :
 Vision: A vision is a guiding representation and illustration of accomplishment and
achievement produced in terms of a contribution to the general public and to the society.
 Mission: A mission declaration answers the questions of why does our company exists, what
business are we in and what principles, standards, values and ethics are going to direct and
guide us?
 Objectives: They improve and refine the mission as well as attend and address key matters
and issues for instance market standing, innovation, productivity, physical as well as fiscal
assets and resources, effectiveness and profitability, management and work force
performance along with competence.
 Goals: They are described as statements that are put together and composed of five
elements: mission, what, who, timeframe as well as time limit. The goals are generally
specific, measurable, attainable, rewarding, as well as are timed.
Organizing concentrates on splitting up, coordination,
as well as on manage of assignments along with the
flow of data inside the company
Organizational structure is the recognized
administrative structure through which job
assignments are separated, grouped, and
coordinated. Organizational structure determines
the function as well as the responsibilities inside the
company.
 
Leadership is described as the capability to show the
way, lead as well as motivate and encourage people
towards a common objective. This feature is
significant for the reason that it can determine the
success or not a success of a company. If the
objectives as well as goals of the people are not
aligned with the organization’s mission, idea and
vision, this is going to have disadvantageous impact
on the fiscal end result and ultimate survivability of
the organization.  
 It is a procedure of comparing the standards with the real,
actual results to discover variation as well as after that to take
corrective act. Control programs are vital to every company,
for the reason that without it the results may perhaps be
chaotic.

Control programs helps:

 In maximizing effectiveness and reduce inefficiency .
 To facilitate management along with control.
 Assist in strategy achievement
 The Five Functions of Management. (1994) Creative Problem Solving.
Information retrieved on 09/04/2008 from
http://extension.osu.edu/~mgtexcel/Function.html

 Management, Robbins & Coulter, Pearson/Prentice Hall; 8th edition

2005