Management is a creative way of providing solutions to problems. This is achieved through the following four major tasks. The main objective is the proper use of the firm’s supply in order to achieve its obligations and objectives (Bose, 2004). The following are management functions and their characteristics.
- Controlling: This is to do with observing the firm’s performance in order to ensure goals are being achieved. Managers have to be conscious of costs versus performance of a firm. This is through establishing performance values founded on the firm’s goals, calculating and reporting real performance, evaluating and initiating remedial action as required.
- Leading: Leaders and managers do not have same roles. A manager supervises employees. He ensures that daily tasks are finished on time and regulations adhered to. Employees typically emulate managers since he or she is an overseer and in control of them. A leader is somebody who inspires employees and directs them to towards achieving a firm’s objectives (Singh, 2004).
- Organizing: Managers have to be in charge of organization in a firm and this involves putting in order both the employees and resources. Managers have to know how many employees should be there in one particular shift for optimum output per given time. If employees have enough resources to complete their tasks, then an organization is in place.
- Planning: It is an ongoing procedure of developing a firm’s goals and purpose as well as formulating how they will be achieved. This includes both the wider vision of a firm, for example, its duty. The narrowest goal, for example, an approach for achieving a certain objective. Setting goals and making sure that carrying out of the set plans are two vital apparatus of a planning tool (Marquis and Huston, 2008).
The best manufacturing option
A manufacturing option for the new firm is to establish an assembly only operation. Since the aim of this firm is to provide an improvement on earlier and similar products, it can easily purchase parts from local vendors and fix them by incorporating a new technology. This will cut procurement costs, shorten production time and boost the local economy among other benefits. The problem with this option is finding compatible parts. Some assembly parts may be expensive because they are ready made for the markets, so customers may find the new technology as a supplementary product. The goodness of the new venture is that it solves the problems of other products.
This option gives the manager of the firm a chance to fully control the planning and organizing the manufacturing process of the new product. This will further enable the firm to realize its objective of designing and launching the desired and superior product.