A discussion on the four functions of management
Diversity in relation to management functions
With the passage of time, certain financial firms have met their end due to their inability to compete in the market where their businesses are located. Nonetheless, few companies, like the Sony Corporation, survived because of their ability to change with the economic milieu and diversify their competitive advantages.
The years have witnessed Sony Corporation's expansion into the electronics, entertainment and music industries. What primarily enabled it to be successful in its business endeavors is the ability to adapt to the current market environment. In essence, it diversifies with time and with its market.
However, diversity per se impacts the four management functions of the corporation. Accordingly, before managers can organize, lead, or control, they must make the plans that give purpose and direction tothe organization and in the process of planning, the diversity within the corporation must be taken into consideration; the diversity in its human resources, product, and organizational structure. The product diversity factor alone makes it complicated for the management in planning how to market it.
The differences in the social and cultural perspectives of the different employees of the corporation and its branches around the world make it hard for the management to lead and organize them towards the end of achieving a fully effective and efficient. The corporation needs to understand the diversity within this context of the corporation to appraise personnel's views about the corporations operations. In addition, controlling in the different internal processes and function of corporation is of utmost importance also in bringing about an environment suitable for prompt corporate progress.
To lessen the complexity of diversity, some of the tasks of the managerial functions of planning, leading, organizing and controlling must be delegated to the different middle managers and supervisors. This alternative lessens the burden being carried by those in the top managerial positions due to the concentration of corporate responsibility in their hands, and maximizes the idea generation capability of the corporation brought about by sufficient number of individuals pondering on different solutions to a particular problem.