Question

Discuss the four principal managerial functions. For each, give a realistic business example of how a manager performs this task. EX) Trader Joes

(management functions help achieve organizational goals of a company)

Answer 1

The four principal managerial functions are planning, organizing, leading, and controlling, and they are demonstrated in various aspects of a business like Trader Joe's.

Step-by-step explanation:

The four principal managerial functions are planning, organizing, leading, and controlling.

Planning: This function involves setting goals and determining the best course of action to achieve those goals. For example, a manager at Trader Joe's may plan to increase sales by launching a new marketing campaign targeting health-conscious customers.

Organizing: This function involves arranging resources and tasks to achieve the desired goals. For instance, a manager at Trader Joe's may organize the store layout and assign employees to specific roles and responsibilities.

Leading: This function involves influencing and motivating employees to work towards the company's goals. A manager at Trader Joe's may lead by providing guidance, support, and training to the store staff to maintain high customer service standards.

Controlling: This function involves monitoring performance, comparing it with planned goals, and taking corrective actions if necessary. For example, a manager at Trader Joe's may periodically review sales reports, identify areas of improvement, and implement strategies to address any issues.