Tesco Finance Function

Posted on November 26, 2011 by Admin
Tesco Finance Function

Tesco Finance Function

Management has been described as the art of getting things done through other people. Henry Fayol, who is considered as the father of management described management in his 1916 book titled "Administration Industrielle et Generale" as the process of planning, organising, leading and controlling of business activities in order to achieve the business’ mission, goals and objectives. The objectives could be maximising shareholder profits or wealth, survival, being a good corporate citizen or increasing market share. His definition of management is still relevant now as it was in 1916.

Discussion of Planning, Organising, Leading and Controlling Functions of Management

Planning involves both the process of strategic thinking and formulating plans and actions required to ensure the business survives or remains competitive. Planning is the bridge between where the organisation is now and where it wants to be in future.

Organising involves the recruitment of resources such as finance, labour and machinery and ensuring these resources are utilised effectually to underpin the achievement of business goals. Organising also involves putting the organisation’s infrastructure in place such as organisational charts and reporting framework, training staff and co-ordinating organisational effort so that business goals and objectives are achieved.