Five management functions Essay Example | Topics and Well Written Essays - 1500 words

Five management functions - Essay Example The term O indicates organizing by the establishment of a formal structure of authority and responsibility and creation of various divisions and subdivisions of work which are properly co-ordinated and arranged. S refers to staffing which includes selection, recruitment and training of staff. D stands for directing where decisions are taken by superiors and authority and responsibility is passed on to the subordinates. Co refers to coordination and R for reporting which involves keeping the executives aware of the activities taking place within an organisation. Finally, B stands for Budgeting by carrying out the process of Fiscal planning, accounting and other such financial activities. The essay highlights information about all these functions of management in the light of a company. It will analyze the application of these management concepts in Tesco Plc. It is the British merchandise retailer and multinational grocery headquartered in Chestnut. The stores of the company are headq uartered in United Kingdom (UK), Europe, Asia and North America. Tesco has the highest market share in UK. The management of the company is robust in some branches and few of them have failed irrecoverably (Rowley & Cooke, 2014). The in depth analysis of the management functions is carried out thoroughly in this essay (Wong & Hua-Tan, 2014). The article consists of detailed analysis of the functions of management and the way it is carried out by the British multinational merchandise retailer Tesco Plc. The analysis can provide a comprehensive view of the leadership framework and the functions of management carried on in this company. The execution of few functions of management in Tesco Plc can be explained as follows (Wong & Hua-Tan, 2014). Tesco has a number of branches in UK, Europe, Asia and North America (Rowley & Cooke, 2014). Through proper idea generation and implementation of the