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Four Functions Of Management Essay

862 words - 3 pages

University of PhoenixFunctions of ManagementThe McClatchy Company is the third largest newspaper in the United States and has been in business for over 150 years. The company owns 30 daily newspapers such as The Sacramento Bee, The Fresno Bee, and The Modesto Bee. Because the newspaper industry have been financially affected by the economic downturn of the real estate market and the growing competition by online classified advertising, McClatchy have set in place some goals to maintain a healthy business future by implementing the four functions of management such as planning, organizing, leading, and controlling.The first function of management is the planning stage. The goal of every business is to make a profit from the product and service they provide. However, as companies face financial challenges like McClatchy, top-level managers evaluate their current financial status to determine what plan of action is needed to maintain a healthy bottom line. According to Bateman & Snell (2007), “Planning is specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve those goals.” Because the revenue in classified sales is down and the goal of McClatchy is to reduce financial liabilities, management determined that cutbacks are necessary to ensure the future health of the company. As stated in Stecklow’s, (2008) article, Gary Pruitt, the CEO of McClatchy said, “he’s focused on turning the company around by reducing debt, expenses, and full-time employees…” As McClatchy followed the plan for reducing their debt, such as outsourcing artwork production of select newspapers like the Modesto Bee, the change eliminated five artist positions. Another part of the plan was to offer voluntary buyouts to more than 100 employees at the Modesto Bee, in which nine employees accepted the offer. The recent company wide layoffs that was announced on June 16, 2008 was just another part of the business plan. Turner (2008) said, “The staff reductions announced today will produce an annual savings of about $70 million, as part of a larger plan to cut overall expenses by between $95 million and $100 million over the next four quarters.” As management implements the plan, the company is a step closer in achieving its goal.The second function of management is organizing. Organizing is to bring together a dynamic and diverse group of people with specific job responsibilities who can work independently or in groups, to achieve optimum results (Bateman and Snell, 2007). Although McClatchy have eliminated 1400 jobs, the company’s mission is devoted in continuing the service of providing high quality news to its readers and viewers. The workforce reductions at the Modesto Bee were in Advertising, Circulation, and...

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