Innovation and its affect of the four functions of management

However, despite the potential benefits of implementing an EMR, the adoption of this technology has been slow. There are many potential barriers to the implementation of an EMR with the most salient being poor change management.

Innovation and its affect of the four functions of management

Originally, he had proposed five management functions; namely, planning, organizing, commanding, coordinating and controlling.

What is cost? definition and meaning -

Modern texts have reduced the functions from five to four. They include planning, organizing, leading, and controlling. The four concepts of management, translated into functions lead to the creation of a cohesive organization.

They can be seen here as a diagram. It is interesting to note that there is no hard and fast rule to be followed in the application of these functions, as management is a real-time decision-making system, any of these functions can be operational in conjunction with any other and also as independent entities themselves.

Planning Planning is the foundation pillar of management. It is the base upon which all other areas of management are built.

Planning requires administration to assess where the company presently is and where it would be in the coming years. Planning is an unending course of action. There may be sudden strategies required to be implemented during a crisis.

There are external factors that constantly affect a company, both positively and negatively. Depending on the conditions, a company may have to alter its course of action regarding certain goals.

This kind of preparation or arrangement is known as strategic planning.

Innovation and its affect of the four functions of management

In strategic planning, management analyzes internal and external factors that may affect the company, its objectives and goals. One of the primary tools of strategic planning is the use of "SWOT Analysis", a technique that helps organizations find their strengths and weaknesses, identify areas of opportunity and take preventive measures against threats arising from both internal and external environmental factors.

An organization can analyze its position in relation to its strengths and weaknessess by classifying them in the SWOT matrix. Then the planning process can incorporate the results and solutions offered in its structure, along with the necessary strategy changes required.

How Does Planning Happen? Although in theory, planning may sound like a static one-off activity which is to be done in a particular manner and then left to fend for itself, it is a dynamic process which can be broken up into different parts for ease of understanding and also as a reference.

It progresses through stages of development and is ultimately, like most management principles, a looping function, without review and monitoring it will not be effective.

Setting Objective Goals Before the actual process of planning can begin, one must know what its purpose is, where is all this discussion and debate going to lead? Saying that we plan to achieve a certain figure of sales and make a certain amount of profit is nonsensical, when the means to achieve them have not been decided upon.

The best way is to state them in numbers, with clear language and a frame of reference which all employees can understand. An example is the effect of motivational programs on the efficiency of the employees.

Developing Planning Premises A premise is an assumption about something that has not yet come to pass. In relation to planning, these premises take the nature of analytical forecasts which are made to understand future conditions.

Care must be taken that the forecast data be in quantitative terms and not a qualitative or descriptive view.

What Is Management’s Role in Innovation?

Data makes it easier to forecast future revenue streams and possible holdups due to working capital issues. On the outside it can give a feeling of how the economy and competitors might behave in the future.

Innovation and its affect of the four functions of management

Recognizing Limitations An organization is a coming together of different people who work in different verticals, although for the primary purpose of achieving a set goal.

A good plan must incorporate these limitations into its structure, to be able to deal with them when the time comes.Whenever a business enterprise is established, it either explicitly or implicitly employs a particular business model that describes the design or architecture of the value creation, delivery, and capture mechanisms it employs.

During the – academic year, the Council of Independent Colleges (CIC) convened a series of eight gatherings on member campuses across the United States under the title, Securing America’s Future: Workshops for Leaders of Independent Colleges and goals of the workshops were to increase understanding of the sector’s distinctive strengths as well as its greatest.

The management process include four basic functions: planning, organizing, leading and controlling. College courses on management are often grounded in the four functions of management that evolved from Fayol’s (, trans.

by Storr, as cited in Wren & Bedeian, ) writings on management theory and the practice of management. A management innovation can be defined as a marked departure from traditional management principles, processes, and practices or a departure from customary organizational forms that significantly.

Capability building. Change-management literature emphasizes the importance of building the skills and talent needed for the desired change. Though hard to argue with, in practice there are two insights that demand attention in order to succeed.

Management - Wikipedia