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BUAD 123 Management Principles

Researching the four functions

Use the tabs below to find resources to use for each major function of management.

How is your company managed in terms of those four functions?

  • If you are researching an existing company, you can analyze news articles, annual reports, the company website, and other sources for evidence.

  • If you are creating your own company, you can research how other companies in your industry apply those functions, and use that evidence as a basis for managing your own.

How a Company Plans

Key points to consider:
  • What decision-making and environmental conditions does this company generally face?
  • How does the nature of the industry they are in affect decision making?
  • What are the company’s mission and vision statements?
  • What are the short-term and long-term objectives and goals of the company?
  • What competitive forces does the company face?
  • Are there any special purpose plans the company uses to manage change, contingencies, product development?

In your analysis think about whether the company’s planning and decision-making processes suit the environment/industry in which they operate. Your textbook may be useful in understanding some of the terminology used in this section.

Overview: Look for articles on the CEO or other key officers of the company. Look for newspaper articles regarding major changes in company direction.
Environmental conditions: What are the political and economic conditions affecting the industry in which your company operates? Look for articles under the name of the industry and governmental sites such as Industry Canada.
Mission and Vision, Goals: Look for information in annual reports or information given to shareholders. Expansion and/or contraction or change of a product line can mirror goals, vision and mission.
Change and product development: Expansion and/or contraction or change of products are important. This information can be found in newspaper and journal articles.
Competitive forces: identify major competitors. Look for articles on your company's competition. Look for a general outline of the operations of the major competitor(s).

How a Company Controls or is Controlled

Key points to consider:
  • What control systems are in place to monitor company performance?
  • How does the environment/industry contribute to the level or kinds of controls used?
  • What behaviors, processes and outcomes are being controlled?

Companies do not operate on a vacuum. They need to monitor their performance. The structure of the company can give some idea of how they control. What they report to the public and to shareholders can illustrate how they control and monitor their performance.

Controlling may involve setting standards, measuring actual performance, and taking corrective action.

Companies are also controlled: Government agencies can control companies, legislation can restrict what companies can and cannot do. For example the airline industry's operating regulations are controlled by government.

Controlling involves three components:

  1. How the company controls its internal operations
  2. How the company is controlled by external factors and agencies
  3. How the company tries to obtain and influence or control its market

Key points to consider:

  • What leadership style(s) is utilized by the CEO and management team?
  • Leadership traits and behaviors 
  • How are people motivated or led in the organization?
  • How does this company compare to the industry?
  • Which specific motivational theories do you think are at work in the organization?
  • Which particular leadership paradigm seems most relevant or utilized in the organization; is it situational leadership, visionary leadership?
  • How does the environment/industry affect their approach to leadership and motivation?

In your analysis consider if the motivation and leadership approaches are effective.

  • Defining the leadership style of a company begins with finding out information on the CEO.
  • Major changes in leadership indicate that the company may be moving in a different direction and is looking for a different leadership style.

How a company is organized

Key points to consider
  • What organizational structure does the company use and how effective is it for a company of this type and size? (Refer to issues such as departmentalization, degree of centralization, authority structures, etc.).
  • What elements in their environment/industry affect their structure?
  • Do they subscribe to a particular organizational design?
  • How do they organize people, projects and processes? 

In your analysis think about whether their organizational elements support their objectives and industry.

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