Maria

Gonzalez
Instructor: Karen Killinger
Business 1050
December 9, 2014

How I have gained a b etter

understanding and changed m y
opinion a bout b usiness throughout
this class.

Throughout this class I have learned

that business its not only about making
money

Sure Money is a big part of it!

But there is more behind it

What makes a business successful?

Business Management

v
v

What do managers do?

What is the definition of management?

Five functions of management (Fayol)

1.

Planning

According to Fayol, Planning is looking ahead. Setting up a good plan of action and this
could be the hardest of the five function of management. It requires an active participation
of the entire organization and managers. They organize, lead, and control staff.

2.

Organizing

A well-organized companys structure is control by a good leadership. This involves

designating responsibilities and division of functions to employees. Organizing is an
important function of the five functions of management.

3.

Commanding

When an employee is given a clear working instructions and orders, he or she will know exactly
what is required of them. Successful managers have a clear communication with employees; they
are capable of motivating and encouraging their employees so they can take initiative.

4.

Coordinating

The coordinating function leadership controls employees goals and planning activities for
the good of the organization. Positive influencing of employees behavior is important in
this. This involves clear communication, supervision and good leadership.

5.

Controlling

Controlling involves establishing performances and verifying whether everything is going
according to plan. The controlling process leads and helps identify problems within the
organization that needs to be addressed.

I believe that there are many factors that drive a business to become successful. And applying
these five functions of management could be important for the company. A successful company
not only has a good staff working in different areas but also needs a well-organized management.
Learning of these functions of management created by Henry Fayol has helped me have a good
understanding of these functions. It has also helped me to be more inform so that when I start
running my own business I will know or at least I will understand how managements works.
Being in this class and learning from the materials that has been provided to me has helped me
shaped my understanding about this subject. Money will not only come because of a good
product but as well having a good and organized management that helps employees to be
motivated and happy in their jobs.