Importance and Nature of Managerial Planning - Coursework Example

Content Introduction 2 Managerial Functions 2 Literature Review 3 Importance of other managerial function 4 Importance and nature of managerial planning 6 Conclusion 7 References 8 Introduction Managers has very important role to play. They are the architects of the company. They are the one who help the company achieve their goals. They see that employees do their work. They perform various tasks. They give direction. The success of depends upon up on them. Today in this globalised world their role has grown. With increased competition it is important that steps are taken in the right way. Managerial Functions Managers “have access to information and on the basis of those certain important decisions and strategies are planned which will help to achieve the organisational goals”. (Waldron, Vasanthakumar & Aluraj, 1997) they perform various functions. Some of the functions performed by them are shown below “Apart from the function of planning, organising, staffing, organising and directing there are various other functions which a manager also achieves. Some of those are leading, motivating, reporting and budgeting”. (Waldron, Vasanthakumar & Aluraj, 1997) To put it anything this helps “the organisation to achieve the goals is his function”. (Waldron, Vasanthakumar & Aluraj, 1997) Planning is the most important. “This is because it gives direction by making the employee and the people associated with the organisation understand what they have to achieve”. (Rothbauer, 2009) It makes people aware of their task. “A manager by looking at the vision and mission statement determines what needs to be done to achieve those objectives “. (Rothbauer, 2009) This helps to identify two important roles for manager. They are “setting the objective and then determining the path that needs to be executed to achieve those goals”. (Rothbauer, 2009) Literature Review The other functions are also important. It helps the company. Even research has suggested that managers form a very important part. Their role has importance. The success depends on them. They can mould the result as they like. A research conducted shows that “a review of the thirty years of work done by managers shows that the success and failure is determined by how well the managers are able to understand the goals and then devise and follow all the managerial function to achieve those”. (Martin, 2004) It thus against highlights the same thing. It also shows that even after years their role remains the same. Infact it has intensified. They need to take better decision. Another research had highlighted some important facts. It shows that “the nature of managerial work depends upon the size of the organisation as large organisation has lots of task and due to presence in large number of countries the nature of work differs as considered to the small size business”.(Moran, 2005) The function remains the same. It is only the nature that changes. Since, the task is more so nature changes. Still, “to be effective irrespective the size it is important to perform all the basic function and see that the goals are met with the resources available”. (Moran, 2005) Importance of other managerial function The other functions are also important. Organising is vital. Here the manager decides on “the material resources, labour resources, capital requirement and any other resource that will help to achieve the goals”. (Peter, 1993) Here there are two important things to look for. “Firstly is the organisational structure and secondly is the requirement of personnel, capital and material”. (Peter, 1993) This will make planning effective. This is where the process is put into place. So “having the right type of employee and matching all the requirement will help to determine the success of the organisation”. (Peter, 1993) Then is the function of staffing. It is very vital. Here “managers need to hire the collect work force for the job so that the job criteria matches with the people hired so that the employees san work towards the achievement of the goals”. (Peter, 1993) It is also important that they are motivated. This will ensure that “there is higher satisfaction level and this will lead to better goals and this can be achieved by continuously motivating”. (Peter, 1993) Then is the function of directing. It helps to determine “how the task is being done and by guiding the employees regularly will help to achieve the tasks without defects”. (Peter, 1993) This function helps to see whether there were any hiccups. Then is the function of controlling. It is as important as the planning function. “It helps to see whether the task was achieved as determined and in case there is any difference then steps needs to be taken by the manager to see that the goals are achieved as was planned and taking necessary steps to avoid such things in the future”. (Peter, 1993) Apart from the basic function there are various other roles which he performs. The manager also looks towards reporting and budgeting. The most important of all this is the planning function. This is where the pillars are laid. It helps to determine the success. When the planning is wrong then even after taking and doing all the steps correctly will not give the correct result. Managers act as enablers. It helps to achieve the goals. It does so by creating vision. The following chart will represent it (Hal, 1999) Importance and nature of managerial planning We thus see that managers carry a lot of onus. The most of it is still the planning function. This is because “no plans mean no direction to follow”. (Wanish, 2009) The plan which is there needs to be implemented. This helps as “by planning the manager is ensuring that a direction is given and it is helping to prepare for the future at the same time the employees have to think before acting”. (Wanish, 2009) Thus manager has a lot of pressure to handle. He uses all this in the nature that will help him achieve the objective. It has been demonstrated below Here we see that when the “manager performs all his function through using the factors effectively and working in coordination helps to achieve the organisational goals”. (Wanish, 2009) Here an important thing to watch out is that planning sets the stone. So it is important that “a systematic approach is taken towards planning by identifying the goals so that it falls in line with the vision and mission of the enterprise”. (Urwick, 2007) The important thing here is that “the objective which needs to be achieved by making employees work for it should focus on the end results which need to be achieved”. (Urwick, 2007) It should be stated clearly. The thing for a manager i also to see that it is the goals set is realistic. It should be achievable. Unrealistic goals should not be set. It will thus help to achieve the goals. Thus the nature and function a manager performs varies. He does a lot of task to ensure that the goals are achieved. He performs various roles. Depending on the nature of task “the manager also act as a strategist where he sets the long and short term objective keeping in mind the overall objective”. (Weihrich, 2004) This depends on the size and task to be done. The manager also depending on the nature sometimes acts as a visionary. Here the manager “tries to visualise the changes and innovation that will come and what all steps he needs to take to tackle those”. (Weihrich, 2004) This is important because it is seeing into the future. Depending on the nature the manager also acts as a teacher and learner. The manager “empowers the employees after seeing their capabilities to perform and at the same time also learn from the surroundings and experience”. (Weihrich, 2004) Thus it helps in his development also. He has a lot of responsibility and while doing so also acts as a motivator. The manager tries to find the factors which will help to bring the best out of the employee. Conclusion Thus, we see that managers have a huge role to play. They define the success. This is because great powers lie with them. They are the architects and design the layout. They define what needs to be done. They also decide how it will be done. It magnifies the responsibility they have. It is important that managers act in the best interest. The planning function also gets more important due to the nature of task to perform. Reference Hal L. 1999, “treat employees well”, The Wall Street Journal, section 1B Martin P. 2004, “Management an Life’s essence: 30 years of managerial work”, Volume 2, Number 2, page 205-212, McGill University, Canada Moran, 2005, “the nature of managerial work in small business”, Small Business Economics Peter D. 1993, “the practice of management”, Collins Rothbauer H. 2009, “four functions of management”, Business Management, UK Waldron M. Vasanthkumar J. Aluraj S. 1997, “improving the organization and management of extension”, University of Guelph Wanish L. 2009, “planning as a management function”, Business Management, UK Weihrich H. 2004, “Management: a global perspective”, 11th edition, Tata McGraw Hill Publishing Ltd Urwick, 2009, “planning function of management”, Management Study Guide, Tata McGraw Hill, New Delhi Read More