Management Planning and Ethics Paper

Essay by raet1University, Bachelor'sB, May 2009

download word file, 4 pages 5.0

In this paper, one will evaluate on company ABC's management planning and how one thinks how planning should be done within the organization. Legal issues, ethics and corporate social responsibility all impact management's planning within the organization. The markets change, costs rise and fall, stocks adjust and this all happens in a day of business. That is the reason why companies must make changes to remain successful in today's society.

The importance of formal planning in organizations has grown dramatically. Until the mid-1900's, most planning was unstructured and fragmented and formal planning was restricted to a few large corporations. Planning is the conscious, systematic process of making decisions about goals and activities that an individual, group, work unit or organization will pursue in the future. Planning is not an informal or haphazard response to a crisis; it is a purposeful effort that is directed and controlled by managers and often draws on the knowledge and experience of employees throughout the organization.

Planning provides individuals and work units with a clear map to follow in their future activities; at the same time this map may allow for individual circumstances and changing conditions (Bateman & Snell, 2004).

Going from the top of management is the corporate structure. For instance the president of the company makes the most money and has the least amount of day-to-day responsibilities. The president's main responsibility is to make money for the stockholders and/or shareholders. Beneath the president is the vice president who often has the responsibilities of the day-to-day functions within the organization. The different departments within the organization, for example like the finance department, which in most cases the chief financial officer is responsible for the cash flow of the company. One can also call this upper management or the executive management because of the responsibilities...