Factors Affecting The Four Functions Of Manangement
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Factors Affecting the Four Functions of Management.
Numerous factors impact the four functions of management. The functions of management include: planning, organizing, leading, and controlling. Key components include: external, internal, globalization, technology, innovation, diversity, and ethics.
A prime external factor would include the current state of the of the United States economy. Consumers may not be purchasing as many Hershey products this year as they did last year, due to staple items such as milk, bread, and eggs being more expensive. During the planning process Hershey’s managers are going to have to implement forecasting more than ever.
The organizing process involves synchronizing the resources required to attain organizational goals. Due to internal factors such as correspondence and numerous phone inquiries Hershey’s decided to create a company website to address customer inquiries. On Hershey’s website, consumers can read anything from product descriptions to the organization’s philosophies. (The Hershey Company, n.d.)
The function of leading is the process of motivating employees to perform at their best. Hershey’s is a company that truly values their employees as the company’s website clearly states. Hershey’s mission statement reads, “Bringing sweet moments of Hershey happiness to the world every day. To Hershey’s employees this means winning with an aligned and empowered organization…while having fun.” This is a reflection of the organizations culture and its dedication to company employees.
Controlling is the process of monitoring development and applying modifications. Hershey’s must be aware of how internal factors can affect control. By reviewing annual reports Hershey’s can get a general idea of what products are selling. If sales are low, marketing may need to see about alterative marketing strategies.
“The Hershey Company (NYSE: HSY) is the largest North American manufacturer of quality chocolate and sugar confectionery products. The Hershey Company revenues nearly $5 billion and has almost 13,000 employees worldwide.”(The Hershey Company, n.d., 1) The Hershey Company is a highly globalized company. When managers are in the planning process they must look at whom they are serving and where. A product that sells out in Mexico may not have the same outcome in the United States. Hershey’s excels in the fact that they view employees as valuable resources. Hershey’s wants employees to feel empowered in their decision-making. Empowerment makes for a positive work environment. Since managers are to use the function of leading to stimulate employees, managers must lead in a positive manner. On Hershey’s website, the corporate philosophy states that Hershey’s “maintains a strong "people" orientation and demonstrates care for every employee.