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Important Functions of Management

What is this is of character of business? It means the type or general group of business or business which are explaining.

Mr. Steve Low is a administrator who is employed in Tahan Insurance Company. He has about 32 years working experience generally Insurance Industry attached with 4 International and Local Basic Insurance Companies. Mr. Steve Low has 2 years experience working as marketing exec, twenty years as Branch Director and 10 years as Vice chief executive for southern Region of Penesular Malaysia.

Its product includes flames insurance, engine insurance, personal automobile accident insurance, sea cargo insurance and more. For an example, if you buy fire insurance, it can benefit to cover loss or harm to the companies and other items such as open fire, lighting and home explosion, airplane, earthquake and volcanic eruption, storm, tempest, overflow, explosion, impact damage(including own vehicle)bursting or overflowing of drinking water tanks apparatus or pipes, riot, strikes and malicious harm.

Why we need these services? Corresponding to Mr. Steve Low this services can provide fast and immediate services to both our intermediates and the customers. The channels of syndication are through their intermediaries' i. e. Basic Insurance providers, insurance agents and direct commercial clients. The amount of solutions used computer to use the business.

The organisation composition means that the way an organisation arrange people and careers so that its work can be performed and its goal can be found. The organisation framework of insurance can be divided into three offices which is shown in the diagram below.

Each company has different jobs and character that they need to be in charge in things that they take part in. Employees are responsible to determine what they do and report to their manager. In order that, the branch office's director will report to local office and local office will are accountable to head office. The strength of the company is it has various kind of insurance i. e. about 60 insurance products to offer to the marketplace. They have strong management in the management level, hardworking and delicate staff to support the organisation. It also has strong channel of distribution to achieve our management goal i. e. big clubs of insurance agency force and insurance brokers support and strong foundation of corporate client. In addition, it also provide quick and immediate service to our intermediaries and clients i. e. we expertise our service on both insurance policy issuing and says settlements.

Thus, the power could it be has a day and worldwide coverage for accident loss of life and everlasting disablement. Furthermore it will also have medical expenses, bereavement allowance, medical center income, travel allowance, ambulance fees, cosmetic surgery resulting from incident and more. In addition, the weakness of the firms could it be high staff turnover as a consequence to stiff market competition in labor force.

Planning

In an organisation, planning is considered one of the most crucial and major functions in managing a company. Planning establish goals and aims to pursue in the future period. The function of planning spans all levels of management from top managers to middle professionals. Top managers are involved in strategic planning which pieces panel, long range goals for the organisation. These goals are the basis for short range, annual operational planning where top and middle professionals determine a specific department objective that might help the company to make improvement into the broader, long range goals. Planning usually includes the word 'where', 'why', 'how' and 'what'. For instance, where you want to go, why you want to go there, how you'll get there, what do you will need in order to get there and also how will you know if you're there or not. An excellent planning means good stewardship. Each success in any projects requires careful planning and organises planning. Without proper planning and prep, we are about to fail in whatever we do. Besides, a good planning also helps to conserve natural resources and it will also save your valuable efforts, money and time.

Manager's plan involves establishing goals and objectives, and determining the activities which is necessary to attain the goals, in light of the situation. That is, the situation must be examined or recognized and the appropriate goals and activities must be motivated in order to adopt features of opportunities or to solve problems. Managers throughout the business must develop goals, strategy and functional plans for his or her work groupings that donate to the success of the organisation as a whole. Preparing goals for company helps administrator to steer their team mates to acquire success. Manager does not only placed goals for the employees however the goal that is set should be explained extensively to the employees such that it helps the employees to comprehend the value of the goals better. These goals which are established for the employees can help them to build a friendly team environment at work. An effective goal setting can be considered a difference in between meeting a deadline for just about any crucial job and dropping short of success. Goals and objectives provide the organisations with a warranty that can determine a plan of action and further tutorials them in preparing for changes in the future. A goal is defined as a future express which an individual or an company strives to achieve. For each goal an organisation sets, it also includes an objective. A target is a brief term perspective and mission with measurable results. With out a evidently organised goals and goals, organisations will face problems coordinating activities and forecasting future happenings.

There are four basic functions of organisational goals which is they provide guidance and course, motivate and inspire employees, accomplish all planning's, and help organisations to evaluate and control shows. Organisational goals not only help the organisation to plan for the near future, but it informs all the employees where the organisation is going and also how it designs to go there. When employees are needed to make important and hard decisions, they can refer to the organisation's goals as instruction. Goals promote planning in determining how goals will be achieved. Employees usually establish a goal in order to gratify their needs; therefore goals can inspire employees and increase job performance. Analysis and controlling will allow the company to compare its actual performance to the organisation goals and then make any alterations if necessary. Why is it important for a manager to create goals? It is because goals can affect individual performance through four mechanisms. First of all, goals can point actions and attempts towards goal related activities and avoid unrelated activities. Second, goals energize employees. Employees will put in more effort in challenging goals compared to easy goals. Thirdly, goals make a difference persistence. It is because employees exert more effort to attain saturated in challenging goals. Fourthly, goals can motivate employees to use their can be found knowledge to obtain a goal or find the knowledge which is required to do a activity.

Goal setting characteristics is one of the topics of extensive research. Types of the four attributes are difficulty, specificity, determination and acceptance. There's a study which ultimately shows that there is a direct relationship in between goal specificity and worker performance. Less ambiguity is included and higher performance is obtained when the goal is manufactured more specific. When employees are given "do your very best goals", they do not have any external reference to refer where they can measure their own shows. For instance, a manager says a sales person to "do the best you can" is an extremely unclear explained goal that will not increase performance. However, if a director says "increase sales by ten percent" is a more specific and evidently mentioned goal that stimulates high performance because the employees acquired all days gone by sales record as their reference point? Goal difficulty also has a direct romance with performance. Studies also show that more difficult goals lead to raised performances, so long as the target which is set will not become too difficult that employees understand them as impossible. Manager should not arranged any unreasonable goals for the employees because unreasonable goals frustrate somewhat than stimulate the employees. Alternatively, a hard but reasonable goal does not only increase performance but also inspiration. Research claims that employees are highly motivated when the probability of finding a specific goal is more than 50 percent.

A manager must set specific performance targets for the employees. Establishing performance targets per employee can be an important part in management which allows company to achieve tactical goal by dividing it into several numbers of sub-goals. There are many steps in specific performance objectives set by the team head or manager which is appoint and perform a meeting with each employees to describe his / her job and tasks, address and make a list of tasks for the employees, and develop sufficient individual performance objectives based on the employee's major functions and responsibilities.

"An employee asks her supervisor for responses on a recently available initiative which she developed for the office. The supervisor responds, 'It seems fine, but it turns out that it is not the particular manager wants these to do. The supervisor fits with one of is own staffs and informs her that she actually is behind in her work and must process the very least number of items in a day, no excuses. " These instances clearly illustrates situations which could happen when an company have not develop a performance management system. Lack of clarity in develop the staff goals, insufficient alignment between employee's goals and organisation's goals, lack of communication on priorities, all these situations can be prevented through the effective implements of an performance management system.

In the interview for our coursework, the planning process in TAHAN insurance company is their key success in their company for achieving goals. Besides that, planning is also a blueprint of the business goals. Planning is a step or method of how to attain the objectives for the business. On another hand, their planning also look into the main ability and resources that your company have in order to distribute the job function to every individual or department to attain goals. Finally, planning helps them to recognize who is accountable for the targeted goal to achieve.

Organising

What is organising? Organising is one of the four overall functions tend to include essentially exactly what managers do in the management process. Organising consists of determining the jobs to be achieved, that may do them, and how those responsibilities will be maintained and coordinated. Professionals must organise the users with their work categories and organisation so they information, resources, and tasks move logically and successfully through the organisation. Organising also includes defining and assigning power and responsibility for decisions to enable duties to be completed effectively. Issues of organisational culture and human reference management are also related to his function.

Organising is very important to a company and when it involves business leadership, this will be one of the main functions that process in a corporation. This function has been creating to help company running with a perfect condition. This assists a business to organise more flawlessly and nicely. In case a company without these important functions, a corporation will lose control and happen many problems that prevent a company increase level of profit on the market. So, to prevent this kind of event happen, they create this function to resolve each one of these problems.

How does a manager utilize the resource to meet the objectives? Actually, the role of an manager is very hard. He needs to ensure that resources are aligned to business strategy. Besides that, a manager also needs to ensure that strategy are effectively and efficiency. Responsibility is also important to a director because this also include the series management and development of worker. These occur to ensure both achieve organisational aims and for staff personal are growing.

Manager's skill can be divided by two main categories that are performance management and series management. In performance management, a administrator needs to perform some additional jobs such as: company design, role definition, hiring employees, goal setting techniques and delegation, planning and resource allocation, decision-making, and communication and reporting.

In the company design, administrator need to make sure that the organisation design is fit for goal in order to support the effective execution of business strategy. In role explanation, a manger must be well defined including skills, capacities, knowledge, purpose of the role, key accountabilities, obligations, and experience had a need to perform the role. As being a manager, selecting employees is important. Administrator needs to be diligence to find employees by search, go for, interview hire and retain appropriate employees to make company earn more profit.

In the goal setting and delegation, a manager will need to have skill to setting up SMART objectives, that are Specific, Measurable, Achievable, Results-Oriented, and Time-bound. These performance goals may bring success to a firm and really should be explicit, written and arranged to be sure that both people understand what is expected and exactly what will be considered a successful result. Planning of work and aligning is part of supervisor work. Manager should do it with a technique and business priorities way to be sure that works gets done with time and correctly.

As a supervisor, a lot of decision-making occur. Manager must take a number of decisions from different type of works and make sure all work are done it with no problem appear. If manager's work facing a problem, as a manager, she or he must solve these problems to complete all works. In communication and reporting skill, manager must have a evidently communicating skill compare to other older managers. It is because manager is often head of those workers, so as a manager, she or he will need to have this skill.

As a administrator, she or he needs to inspire their employees. This assists to motivated and employed them to execute a proper and excellent performance. A manager should organise his / her worker to supply back any remarks. This assists manager to learn staffs better and build a strong romance between staffs and supervisor. Within the development, administrator must able to identifying areas of progress such as content knowledge, skills and manners. Besides that, manager should agreeing with employees' development steps and providing the required support to help them. So, they'll make it work such as spending money on training, presenting time off or providing on-the-job training opportunities with new tasks.

At performance appraisals, manager must perform evaluation that should happen formally. It is because there must at least annually and regular interim appraisals such as quarterly. At performance improvement, manager must understand appropriate and then provide them training, support them, mentoring them or training them as had a need to help employees achieve an appropriate level of performance to be able to reach the target.

Besides organising, a manager also needs to have planning, leading and managing skills. These skills are incredibly important to a supervisor as well as a company. Without these skills, a business will not survive in the battle of market. Then, the company will lose to other rivals and facing personal bankruptcy problem. So, a firm will need to have a good supervisor with good skills to archive the successful in the battle of market.

Organising is a simple necessary for a manager. Without these useful skills, the individual cannot turn into a good manager since it will lead the company to failure. So, as a administrator, she or he will need to have these skills to be able to help company earn more profit. In other words, manager "MUST" acquire each one of these skills to be remembered as a good and skilled manager in a success company.

What will be the common resource usage problems faced by a company? There are three key areas which a supervisor needs to concentrate on. These three secrets are knowing, doing and measuring. There are a few causes in knowing. The first cause is basically because the manager will not know the use rate for last night and today, significantly less for exactly what will be forecast tomorrow. Second cause is the supervisor does not know very well what the percentage of billable staff is before end of the month. In order to cure this, managers have to have real time accounts which shows utilize rates and historical trend by specific or company. However, there are also some causes in doing. The complexities in doing are billable worker doesn't have any access to schedules, that's the reason they can not see changes or make posts. Therefore, the business must supply a strong mobile device for staff to permit 2 way changes and continual synchronize. Last but not least, the complexities in measuring are professionals cannot see usage over a period of time, by worker or company. To get rid of this, managers must make sure that employee studies show utilization, realization and billing against quotas.

Leading

As one of the four functions of the management, leading can be both extremely important and challenging. Leading is very important for a supervisor as a administrator needs to lead the employees in the company in order to allow company become more successful on the market. A manager should also strive to become an inspiration to the rest of the employees. In cases like this, the employee is only going to follow and respect the director. A director that can be an creativity means that the employees will observe the manager because they believe in what the administrator is doing and they will try to help the business to archive its goals. Finding ways to motivate employees is does mean that coaching them and motivating them to achieve success as integral elements of the company.

On the other palm, the ways that a supervisor leads will greatly impacts the staff morale within the department and company all together. Managers should create a climate that stimulates new ideas and employee input. This may let the employees believe that they have a say in the business and they will willing to share ideas and attempt to find better ways to enhance the process. For instance, a good supervisor will prize the employees with economic or benefits bonuses if they can raise the output of the merchandise. Another idea is a treasure container of goodies. Supervisor can set a goal early in the week and employees who meet up with the goal by the end of the week are allowed to take a reward from the treasure container. Besides that, when during the meeting, the supervisor should also praise the staff who are successful in their careers. This will let the employee are more extreme in their job to be able to let the manager to reward them more as when the manager praise them, they feel happy and also feel very pleased among the list of other college. This can also make the other staff become more aggressive when they noticed the other worker was praise by the manager as in addition they want the manager to reward them.

Communication skill is vital between a supervisor and a worker. An effective head must have an effective communicator. In case a manager doesn't have a good communication skill, she or he will easily have quarrel with their employees and he or she will have a bad relationship with their employees. This will influence the procedure of the business when a supervisor is selfish and don't like to communicate with the others. Alternatively, a administrator that shares information and let us employees know the latest media in the company is someone that is deemed trustworthy by his / her employees. Besides that, a director should have a good romantic relationship with the employees. For example, the director can plan some activities for the employees in the company, such as family day, gathering, or get together. These activities can let the relationship between the supervisor and the employees become better and they also know each other better. Besides that, the administrator can also know more about the family track record of the employees.

Moreover, a good and effective innovator will inspire his / her employees, which allows those employees to feel that they are simply making a meaningful contribution to the company. The employees will also work harder for the business and also take more ownership in their job position. This can imply happy customers and an increased level of customer service. A great market leaders in an company will have an effect on the employees they supervise. Besides that, in addition they motivate others employees in the other area of the company. This will make the complete company become more effective. Effective command is infectious and it should be spread to as much areas of the organisation as is feasible. Using this method, will bring about a highly-coordinated work to please both customer and employees.

A good leader must be understanding towards their workers. For example, when one of the staff involve some personal problems plus they could not come to be employed by a week, as a understanding administrator, we must understand he or her problem and also complete his or her work to other employees. This can let the employees feel that the administrator is understanding and is also also a good director. They will also be more loyalty to the business when they believe that they work with the right company. Besides being understanding, a good leader also needs to be caring and helpful to their employees. For example, when one of the staff family member met an accident, have to have a amount of cash, the administrator should help them to accumulate donation and also comfort them. This will make the employee feel that his or her boss is helpful and nurturing towards them. The employee will also feel pleased to the manager and also try to repay his / her kindness by doing a good job in their work. When the other employees see this situation, they will feel that their manager is a kind, caring and also helpful boss.

A innovator is also the model on the list of employees. He or she must show a good example to the employees in order to let the employee to follow their steps. For example. a leader should come to just work at an earlier time. If the employee saw their manager is earlier than them, they'll also study from him or her. Other than being truly a role model, a innovator must be accountable for what she or he and the team got committed. For instance, when the worker have done wrong something, the director need to be answerable to the management.

After interviewing the director in TAHAN insurance, we knew that the manager use inspiration to lead the employees, as determination is the key factor to drive the team member to archive maximum height in the operation. Besides that, a good administrator should exercise the leader by example to the team member by showing them they are getting a full support off their manager. To get a good romance with the team member, the manager must work together with the team member.

On the other side, a supervisor should help the employee to solve the condition that they encounter. The manager should also guide the team properly in order to meet up with the concentrate on of the organisation. A responsible director also needs to keep a well-defined vision on the companies' daily operation. The administrator must make sure that the company is operationing well. Furthermore, the manager also needs to exercise rewarding system to team member who have well or archive a good bring about their work.

By comparing the two theory and analysis case, we can compare the functions of the director. In theory, director use inspiring to lead the employee, while in study case, the supervisor use motivation to lead the staff. Besides that, supervisor becomes the role model of the employee in the idea while the manager becomes the role of example before the worker in the study case. Besides that, in theory, director need to have a good relationship with the employees, while in analysis case, director maintain a good romantic relationship with their worker to ensure that they archive the organisation goals.

As a finish, leading is vital to a director as she or he need to lead a company with a team of employees. Besides that the supervisor really needs good communication and romance with the staff. Without leading, the complete organisation will never be successful as the employees do not pay attention to the administrator. Therefore, a supervisor must lead their worker well to ensure that they found the business goals and also make the company famous on the market.

Controlling

In theory, controlling is one of the function of director which it's important that function can really helps to check the mistakes and take the corrective action so that deviation from criteria are minimizes and mentioned goals of the organisation are achieved in desired manner. In management controlling can be define as the process of regulating organisational activities so that real performance conforms to expected organisational goals. The phases of handling are anticipating the things that could fail and taking precautionary measures to see that they don't really, monitoring or calculating performance for some reason in order to compare what's actually happening using what is supposed to be happening and correcting performance problem that happen which this is actually the therapeutic facet of control. Types of controls are delegation (accountability), analysis (performance), financial statement (budget management) performance management (observation and reviews), insurance policies and strategies (tendencies in work environment), quality control and procedure management and last but not least risk, protection and liabilities. A couple of four important steps in handling which is establish expectations to evaluate performance, measure actual performance, compare performance with benchmarks and take corrective activities.

Establish of standard is the first step in controlling as a typical is a product of measurement that can provide a research point for evaluating results. Manager should exercise control by evaluating performance for some requirements and goals. There are a few kind of standard that are tangible and intangible requirements. Tangible standard are clear, concrete specific and generally measurable while intangible standard is relate to human characteristics that are not expressed in conditions of figures, money, physical characteristics or time. It could be desirable attitude, high morale, ethics and assistance. Tangible standard contain four criteria which is numerical standards, monetary benchmarks, physical criteria and time requirements. In numerical expectations, it can be expressed in numbers of item produced, absences, ratio of sales and etc. Financial expectations can be measured in conditions of money which is income, cost and etc. Apart from physical standard can be grouped by quality, resilience, size, weight and other factors related to physical composition and lastly time requirements can make reference to the speed with the job is to be done like the task completion day.

Measure actual performance is the second step as it means that it complies with the set up standards. A lot of the organisations will prepare formal studies of performance and weekly meeting to evaluate how the director performs. These measurements should be related to the expectations set in the first step of control process. For example, if sales growth is a focus on, the organisation should have a means of gathering and confirming sales data. The way of measuring actual performance can be done by personal observation, written or oral article about employees, programmed methods and inspection, test or examples.

Comparing performance with specifications is the third step as this task compares genuine activities to performance specifications. When the director browse the computer studies or walk through their vegetation, they identify whether real performance meets, surpasses, or falls short of specifications. Typically, performance reviews simplify such comparability by placing the performance expectations for reporting period alongside the genuine performance for the same period and by processing the variance. That's the various between each genuine amount and the associated standard.

Taking corrective action if possible is the final step in the control process. Adjustment, fine-tuning, as well as perhaps extreme action may be necessary to pull off important tasks or to maintain standard. When performance deviates from requirements, managers must know what changes, if any, are essential and how to apply them. In the productivity and quality-centered environment, workers and manager tend to be empowered to judge their own work. After the evaluator determines the reason or causes of deviation, he or she can take the fourth step which is the corrective action. There are some few examples of corrective actions which are making the decision to retrain a fresh staff whose performance hasn't progressed as expected, shifting several employees using their company normal careers to help meet a deadline on another job, counseling a worker whose performance has been below the standard, reprimanding an employee for failure to stick to safety rules and shutting down a piece of equipment for maintenance after defective output is tracked onto it.

Characteristics of effective control system contain controls need to concentrate on appropriate activities, adjustments should be well-timed, controls must be affordable, control should be correct and concise and control should be accepted by people they impact. Control needs to give attention to appropriate activities imply effective handles must concentrate on critical factors that impact both individual's and the organisation's talents to achieve objectives while settings should be well-timed can explain as information necessary for evaluations and control purposes need to be in management's hands to make effective corrective action. Delays in creating, gathering or disseminating information can lengthen the occurrence and lengthen of deviation. Besides that control must be cost effective as this good thing about using appropriate settings should be worth their cost of unit installation and operation. Too much of control can be worse than inadequate. The key is to provide befitting the situation and offer saving greater that the price involved. Additionally control should be accurate and concise as control must definitely provide information about operations and folks in sufficient quality and quantity to enable managers to make meaningful comparisons to procedure standards. Much like control, too much information is often as bad as inadequate. Lastly settings should be accepted by folks they have an impact on as adjustments and their applicability to specific situations should be communicated clearly to those in charge of implementing them also to those who will be governed by them.

In the interview for our coursework, the controlling in TAHAN insurance is manager should follow-up closely on the daily basis on all the departments functions to ensure they have achieve their goals, service standard and KPI (key performance signals set by the business. Besides that, weekly marketing appointment should be conducted to keep an eye on the marketing activities and marketing result from each marketer. To identify the situation area arises from the marketing consultancy and assist them immediately to resolve in order to achieve immediate results. Furthermore, emphasis on result orientated to all departments or individuals to attain goals and conduct weekly product control meeting in order to improve their financial position.

By taking a look at both theory and the case study, we can compare one of the functions of administrator which is controlling. Manager use handling to identify the condition area arises from the professional activities in the event study while in theory director also use taking corrective action steps to recognize the situation that happen in the company. Other than that, theoretically part director use controlling to measure genuine performance which this step is to observe how the director perform by viewing them in daily meeting while in the case study, handling is how supervisor follow up closely on the daily basis on all the departments operations to ensure that they have achieve their goals, service standard and KPI (key performance indications) which is defined by the company.

As conclusion, managing is important as much factors that can put things off system. Because anything including human is imperfect, management must use control to keep an eye on progress also to make intelligent modification as required. Other than that if manager keep an eye on individuals, departments, and the organisation then your desired performance will be come to. Without the controlling, the whole organisation can be be not successful and the employee will do their own thing minus the control from the supervisor that will lead many problems to the director. Therefore, manager should control their organisation well to make the organise to be famous in the future.

Conclusion

In conclusion, we feel that planning, leading, organising and controlling are four most important function of management. These functions are very important for the organisation. For the reason that these functions assist in setting overall goals of the company and the most practical method to complete these goals. They help the company in getting the folks collectively and achieve most sought goals. It also helps in observing and trigger the resources for accomplish of these goals. Thus, the effective and effective working of your organisation would depend on these four functions.

Planning includes in setting up mission declaration, identify the goals of the company and determining the activities and resources that had a need to achieve, whereby professionals should decide what to do, how to do it, when to undertake it and by whom it is to be done. When there is no planning there will no business goal.

Moreover, leading takes on an essential part in the business organisation. A innovator is interpreting a person who sets the way in an work and motivates visitors to follow that course. When there is no good leadership the business will not reach its purposes. It really is like a ship with no skipper. Every successful business involves affective leadership to totally employ the skills of staff in order to attain the means of the business.

In making organisation, folks who are organised normally complete much more than disorganised people. That is also same as organized departments or business. Those managers that can organise the company function nicely will enjoy a much smoother possession in the management position. Considering organising, successful innovator will organise their staffs, hand over task, assign tasks to employees and determine the road business will function.

The interpretation of control in business is the process whereby management ensures that the genuine works fit in with the preset goals and planned activities. The purpose of control is to keep deviations from prepared activities so that the goals can be done with fewer problems. Hence, controlling involves assessing and monitoring performance, compare with set requirements, indentifying variations and taking corrective action.

To conclude, a good innovator will definitely attain the organized activities associated with an organisation with lesser problems and will take needed action if the organisation deviates. A company with no eye-sight is nothing and with a good innovator the business will meets its aims.

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