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Smith's Accounting Tax & Service - Case Study Example

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Case Study Can Amanda Turn Her New Business Around Before It Is Too Late? (College) Introduction The term ‘management’ refers to the act of aligning individuals and available resources in the right order for achieving proposed goals and objectives…
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Smiths Accounting Tax & Service Case Study
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Download file to see previous pages Importance of Management Functions The four major management functions, planning, organizing, influencing, and controlling, play a significant role in performing the daily activities of an organization. The concept of planning sets specific goals for organizations, managers, and other employees. In the opinion of Pride, Hughes, and Kapoor (2010), planning assists the management team to understand where the organization is, how to make the organization move along the specified path, and when to take appropriate measures to achieve the targeted organizational goals etc (pp.169-170). Elimination of uncertainties, minimization of impulsive and arbitrary decisions, quick resource allocation, effective use of resources, adaptive responses, anticipative action, and integration of various decisions and activities are other benefits usually obtained from planning. According to Hurd, Barcelona, and Meldrum (2008, pp.42-43), ‘organizing’ is an effective functional element of management that assists the firm to achieve the targets set in the planning phase. Organizing aids a firm to distribute the works effectively among its employees. Organizing is essential to clarify the powers of every manager and the way he has to exercise those powers. This practice will also prevent managers from taking unfair advantages of their position. Similarly, work coordination, effective administration, growth and diversification, sense of security, and scope for new changes are some other fruitful outcomes of organizing. A manager’s level of success or failure is determined on the basis of his/her ability to influence people within the particular department. When managerial individuals effectively deploy their influencing skills, they exude a positive energy that would highly motivate their subordinates. This motivation will directly enhance organizational productivity and thereby profitability. In the view of Marquis and Huston (2009, p. 434), motivation helps an individual to move forward in spite of all possible difficulties and challenges. Controlling is a management function that bridges the gap between actual performance and the planned performance by finding reasons for such gaps and taking corrective measures or actions to address those reasons. Rothbauer-Wanish (2009) says that this function is essential to make sure that the business is running along the predetermined path. Moreover, it would enable the management team to successfully enter into the next phase of planning. Recommendations to Amanda (1)Although you (Amanda) had established an effective mission statement, you failed to develop and share it in an appropriate way. It seems that you have not tried to pass her visions and goals on to your new employees. For the profitable running of Smith’s Accounting and Tax Service, Amanda’s employees must be well aware of the firm’s ultimate goal. Therefore, you must give great emphasis on sharing your mission and vision with your employees. (2)Similarly, you failed to organize and control human resources effectively. You completely relied on Lisa even before analyzing the range of Lisa’s performance. You gave full freedom to Lisa to manage the day to day activities of other employees. In short, you have not given adequate care in dealing with the individual performance of your employees. Hence, it is ...Download file to see next pagesRead More
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