Management And Characteristics Of Management At Wal-Mart

1. Introduction

Management may be defined as a collection of ideas which lay down general rules on how to manage a business. It helps managers and supervisors to works towards the organization knowledge and goals and also motivates employees to perform at higher standards. It is also the process by which a business organizes and coordinates its activities to attain its goal and objectives by working with and through people and other resources. Management is essential in all organization and good management practice helps an organization to use its resources optimally and to achieve success.

2. Characteristics of Management:

• Process of continuing and related activities

• Focuses on reaching organizational goals

• Working with and through

It involves establishing performance standards of employees and monitoring of outputs to ensure that employees are performing up to the standard. It also helps to identify situations and problems that need to be resolved through new performance standards.

The success of an organization depends on the level of performance of it’s employees. Controlling does not relate to only achieving monetary goals and objectives but also towards achieving non tangible goals and objectives for eg trying to achieve production quota or addressing customer’s complaints promptly.

Managements functions at Wal-Mart Organisation

Wal Mart is one of the largest organization in the world. Wal-Mart having been able to achieve success in this highly competitive market, is due to its efficient management functions being adopted by the company namely planning, organizing, leading and controlling.

There are several factors that affect the management of any organization, namely:

(i) External Factors

(ii) Internal

In delegation, the tasks and responsibilities assigned to other people are transitioned and the ultimate responsibility for completion of the task lies within the higher level manager. At Wal Mart, delegation is widely used in the management function of leading and controlling. For example delegation within Wal Mart operations and stores occurs from the regional management to store management to assistant manager all the way down to staff members. But the final responsibility if the store operations rests with the regional