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Management Theory and Practices - Essay Example

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Summary
Management mainly involves five functions namely, Planning, Directing, Staffing, Organizing and Controlling. Management focuses upon achieving the goals set by an organization and achieving goals is quite a difficult task which involves numerous complexities…
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Management Theory and Practices

Download file to see previous pages... Its object is to point out weaknesses and errors in order to rectify [them] and prevent recurrence." The main focus of the controlling function is to make sure that everything is going according to plan and whatever is not going according to plan is fixed up as soon as possible. Modern day function of controlling has become very advanced; the managers are required to have the skill of foreseeing the events which are going to take place; on the other hand the function of controlling was only brought into effect after the problems were detected before the introduction of the modern functions of controlling. When a Manager adopts the method of controlling, he/she should make sure that it is done on a regular basis because controlling is a continuous process and should be carried out on a regular basis in any organization. Another important feature of controlling is that it is closely interrelated to Planning, under the process of planning, the goals are set for an organization and the function of controlling makes sure that those set goals are achieved in this way these two functions are interrelated.
Reliance Anil Dhirubhai Ambani Group is one of the most popular and successful company in India. The company is extremely well controlled and not only is it well controlled but also the company exceeds the expectations of the shareholders every year. This goes to show that the company follows the principles of management very carefully be it planning, controlling or for that matter staffing. The Reliance group was earlier headed by the Late Dhirubhai Ambani, father of Mukesh and Anil Ambani and the company has been split into two now, both the brothers came to an unanimous decision to split the company into two. The company which is being talked about here is headed by Anil Ambani, the company is into more than one sector and every sector is very well controlled by Anil Ambani the Managing director of Reliance Anil Dhirubhai Ambani Group. The company is into Capital, communication, entertainment and power. Anil Ambani is one of the richest people in the world and this is all because of his management skills. He has put efforts in making sure that the principles of management are stuck to by his company. The company is very strong financially; the company recently reported a quarterly profit US$ 14.2 and this speaks volumes about the controlling process going on in the company. It can be made out how good or bad the controlling process is by the annual results of a company and in this case it is very certain that Reliance Anil Dhirubhai Ambani Group is very well controlled. "Reliance Natural Resources Ltd (RNRL), part of the Anil Dhirubhai Ambani Group, has posted a net profit of $17.14 million (Rs.686 million) during 2007-08 as compared to $7.21 million the previous fiscal." (Reliance Comm, 2 October 2008). It is very clear from the stats that the company is very well managed and the controlling process especially is very well taken care of.
A Company which is Average is following the Function of Controlling
India Infoline is another Indian company which is good and in the context of controlling it can be said that it is an average company.
"The India Infoline group, comprising the holding company, India Infoline Limited and its wholly-owned subsidiaries, straddle the entire financial services space with offerings ranging from Equity research, ...Download file to see next pagesRead More
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