Week 1 Fawzy Balila 120009079 Q: Describe the four principal

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Week 1
Fawzy Balila 120009079
Q: Describe the four principal functions of planning, organizing, controlling and leading needed by
managers .
A: For planning we should set goals and decid to how to achieve them. For organizing we should
arrange taskes people and other resources to accomplish the work, and for leading we should
motivate, direct, and otherwise influence people to work hard to achieve the organization's goals.
last it will be controlling monitor perfor mance, compare it with goals, and take corrective action as
needed.
Q: Explain the importance of each function and how they interact for a manager in an
organization.
A : Planning is defined as setting goals and deciding how to achieve them. that's meen with out
plan there is nothing to achieve .
Organizing is defined as arranging tasks, people, and other resources to accomplish the
work. it's so importance to see our goals accomplish.
Leading is defined as motivating, directing, and otherwise influencing people to work
hard to achieve the organization's goals .
Controlling is defined as monitoring performance, comparing it with goals, and taking
corrective action as needed.
Q: Describe the challenges managers face in today's business environment
A:
1- Integrity : Business has never faced the type of moral challenges that it faces in today’s global
economy.
2- Cash, Borrowing, and Resource Management : A healthy profit may look nice on your
financial statements, but if capital expenditures or receivable collections are draining your cash,
you won’t be able to stay in business for long .
3- Increased selection and competition. It’s never been easier to start a business. Gone are the
days when it took weeks, months, and a myriad of forms to get your business started.
4- Marketing and Customer Loyalty. Along the same lines as increased selection and competition
is the challenge to market to potential customers effectively and retain your existing customers.
5- Uncertainty. All of us, and especially business leaders find great discomfort in uncertainty.
6- Regulation. A changing regulatory environment is always of concern in certain industries, but
uncertain energy, environmental and financial policy is wreaking havoc for nearly all companies
today.
7- Problem Solving and Risk Management. A major challenge for all companies is identifying,
assessing, and mitigating risks, including human and financial capital, in addition to the macro
economy.
8- Finding the right staff. Without exception, every business executive I speak to says that one of
their biggest challenges is staff .*
*
http://www.forbes.com/sites/cherylsnappconner/2013/03/04/the-8-great-challenges-every-busin
ess-faces-and-how-to-master-them-all/
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