Four Functions of Management

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 phoner owns 30 semiannual newspapers such as The Sacramento Bee, The Fresno Bee, and The Modesto Bee. Because the newspaper industry loudness been monetaryly affected by the economic downturn of the really acres market and the growing competition by online assort advertising, McClatchy endure set in place some goals to adduce a reasoned business future by implementing the foursome functions of guard duty such as excogitatening, organizing, leading, and controlling. The first function of management is the formulation stage. The goal of every business is to make a salary from the product and service they provide. However, as companies face financial challenges wish McClatchy, top-level managers evaluate their current financial status to ready what image of action is needed to maintain a healthy place l ine. According to Bateman & Snell (2007), ?Planning is specifying the goals to be achieved and decision qualification 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 come down financial liabilities, management determined that cutbacks are necessary to contribute the future health of the smart set. As stated in Stecklow?s, (2008) article, Gary Pruitt, the chief(prenominal) operating officer of McClatchy said, ?he?s focused on turning the company around by reducing debt, expenses, and all-inclusive-time employees?? As McClatchy followed the plan for reducing their debt, such as outsourcing artwork toil of film newspapers like the Modesto Bee, the change eliminated five artist positions. some other reveal of the plan was to offer voluntary buyouts to more than ampere-second employees at the Modesto Bee, in which nine employees accepted the offer. The recent company gra nd layoffs that was announced on June 16, 20! 08... If you want to get a full essay, order it on our website: OrderCustomPaper.com

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