Functions of Management Is a Term Paper

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With these different departments having their own functions and responsibilities, the Company can be organized and run accordingly to the achievement of its objectives.

Each employee in the organization has their individual roles and responsibilities. To properly execute and illustrate the four functions, we will look it in micro-level. For detailed application of these functions, let us pick Audit Department as a diagram.

PLANNING and ORGANIZING Audit Department has an aim to ensure other departments are in compliance with Company policies, internal office memo, acceptable standards, and other legal provisions. With a goal in mind, it is easier for the department to set up a procedure to attain such. However, prior the accomplishment of goal, the people behind it, composing of Audit Managers and Associate Auditors, should be aware of their roles and responsibilities: Audit Managers are to assist and review work of associate auditors. They are also the ones responsible for the reporting of the audit results to higher management. Meanwhile, associate auditors are responsible to perform detailed tasks based on accomplished audit program and procedures.

PLANNING, ORGANIZING and LEADING Prior start of audit engagement, the department holds a meeting to discuss their approach of the audit assignment. They plan department or function (i.e. Finance, Purchasing, Sales, etc.) they will audit.

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Audit Managers will delegate their assignments to the Associates and in turn, Associates will do them in accordance with Audit program which is based on the Company policies and applicable standards.

After the fieldwork, which is the time where Associates will be devoting detailed walkthrough and transaction audit, Managers will review the audit work done by their associates. After review and finalization of the reports, both Audit Managers and Associate Auditors will set a meeting with auditees composed of function head and process owners. They will make audit recommendations and seek applicable response and commitment from the auditees.

CONTROLLING at the end of the engagement, the department meets again for audit engagement deliberation. In here, they will assess, give feedback and discuss overall results, success or failure, of recently concluded Part of their assessment would be whether their job is still aligned with department's objective, and Company's as a whole. After six months, they will also revisit the department audited to validate their compliance to recommendations and implementation of their commitments.

The four functions of management are applicable to the Company and all of its departments. It is necessary for the achievement of organizational/company goals and objectives. It is essential for building strong organization and effective teams......

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