The Plaza Hotel & Casino By Pablo Lata In any organization effective management is essential for success. Therefore, on the path to success, understanding the functions of management is the first step. In an attempt to contextualize these functions I will use my workplace as an example. I will describe the four functions (planning, organizing, leading and controlling) as they relate to the company as a whole, as well as their relation to my supervisor and myself. Background For the past six years I have worked at the Plaza Hotel & Casino in Las Vegas, Nevada. The Plaza is an off-strip property employing approximately 1, 000 workers.
The business encompasses gaming, lodging, and entertainment, as well as food and beverage operations. As financial controller I report directly to the CFO and have a hand in all aspects of the casino business. Not only do I need a thorough understanding of gaming laws and regulations, but an understanding of the gaming sector in general and Nevada’s Gaming industry in particular. My position serves as a liaison to upper management, as well as between departments. Management Functions – The Plaza Hotel & Casino The four management functions apply to my organization in the following ways. Planning.
On the corporate level planning is primarily conducted by the property’s General Manager and Director. Both are members of the Board of Directors and have ownership in the company. They, along with consultants and department heads, plan the company’s strategies. This is accomplished through focused meetings conducted in an open format. Thus, allowing input from all attending. Upcoming promotions or advertising campaigns are generally decided in this manner.
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Coupled with their success rate in their market niche, they were able to raise a large amount of capital through a stock transaction with an investment bank. Because of their growth and cash position, the top managers of HGC worked with a consulting firm to develop a strategic plan of action. The founder, Sally Peters, is considered to be one of the up and rising entrepreneurs. Her management ...
For larger scale decisions, which could affect the stability of the company, topics are taken directly before the board. Organizing. When the executives decide on a plan of action they expect it to be carried out. The task of organization falls to the department heads.
They are mid-level managers in charge of specific areas (food, beverage, security, marketing, etc. ).
It is up to the department head to schedule workers and instruct them. This step is where the plans begin to go from concept to action. Leading. When dealing with a large number of employees strong, focused leadership is essential.
By communicating their plans clearly, and stating specific goals, top management is the first rung in the ladder. Department heads then take that focus and pass it along to the workers. Controlling. Controls are instituted and maintained through a cooperative relationship between upper and middle management. While upper management ultimately has the last word in setting standards and practices for the company, it is up to the department heads to ensure those standards and practices are maintained. Management Functions – My Supervisor The four management functions apply to my supervisor in the following ways.
Planning. As CFO my supervisor is responsible for ensuring the company’s financial stability. In doing so he develops plans for large-scale acquisitions, as well as managing the company’s assets and liabilities. This is accomplished through monthly meetings with the board of directors, as well as more frequent meetings with the company’s attorneys and consultants. Organizing.
In his position, my supervisor relies on others to handle organization. If costs are getting out of control he may call on a department head to revise their ordering process, or offer bids to a larger number of suppliers. Essentially, the plans he formulates are passed along to those managers who are directly affected. Leading. My supervisor has always taken a keen interest in displaying strong leadership. He has repeatedly mentioned building employees up to their full potential.
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By providing a stable environment where employees’ work is valued and appreciated he has established a strong team dynamic. Controlling. Control is established through thorough oversight within the department. My supervisor stays abreast of all the functions of the office. While he may not be able to review or direct individual employees, he ensures anything that passes his desk is concise and accurate. Management Functions – My Position The four management functions apply to my position in the following ways.
Planning. I accomplish the planning function of my position through meetings with both the CFO and the company’s Internal Auditor. In these meetings we discuss various methods by which the reviewing and reporting of financial information may be improved. Additionally, I meet with the CFO to discuss improved revenue forecasting and budgeting plans.
Organizing. Once plans have been established I meet with the accounting staff and assign their respective tasks. This entails weighing each individual’s strengths and weaknesses, as well as any current projects they may be working on. Ultimately it falls on my shoulders to ensure that the goals are met according to plan.
Leading. I have found the best way for me to lead has been by example. Being younger than my subordinates, and much newer to the company, resulted in some early resentment. By rolling up my sleeves and working just as hard as my staff, if not harder, I was able to gain their respect. I found that by showing my staff exactly what I expected from them I was most likely to receive it.
Controlling. I establish control by developing clear guidelines by which my staff should perform. This in turn demands a clear and focused plan from me. The result is a greater level of trust both on my end and theirs’. Having set rules and a clear goal makes working together easier and more efficient. Recommendations In order to improve morale and generate a company wide focus I would improve communication between top management and front line employees.
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Introduction One would be amazed to hear that 48 million customers are served everyday in 119 countries at a McDonald's and as of 2004 there were 31, 561 system-wide restaurants (2005 fact sheet). Being enrolled in a management course, one automatically begins to think about how many managers there must be in place to manage all those locations. Though McDonald's is a franchise and all restaurants ...
Often plans instituted by top management loose some of their focus by the time they reach the front line employee. A company-wide program to improve customer service may reach the front line employee as simply a mandate for faster response to customers. As a result the diluted plans do not accomplish the intended result. This can become frustrating to both the executives and the workers. By communicating the company’s workplace plans and strategies to the front line employee through a newsletter or general memo everyone could be kept on the same page. The entire company could work toward the same goals, thereby accomplishing their goals more effectively.
The functions of management are evident in all levels of an organization. Each stratum may perform the functions differently, yet the appropriate implementation of these functions plays a vital role in an organizations success. Dressler, G. (2002) Management: Leading people and organizations in the 21 st century.
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