Technological University of Panama

Sciences and Technology College

Degree in Bilingual Executive
Communication

Subject: Business Decision-Making

TOPIC:

Student: Héctor Rodríguez

ID: 2-746-1475
Professor: Kristel Núñez
Due date: April 14th
2022
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INDEX

CONTENT PAGE
Introduction……………………………………………………………………………..3
1. Management Process Concept……………………………………………....4
2. Planning………………………………………………………………………...4
3. Organizing……………………………………………………………………...5
4. Direction………………………………………………………………………...5
5. Coordination……………………………………………………………………5
6. Control…………………………………………………………………………..6
7. Importance……………………………………………………………………...6
Conclusion……………………………………………………………………………...7
References……………………………………………………………………………..8
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INTRODUCTION

Businesses are complex structures made up of resources that need to be

managed efficiently and effectively. The duty of an administrator is to know the
principles and methodologies that govern the operation of the internal and
external activities of the company towards the proposed objectives. Therefore, it
is important to give order to the work carried out in the company to achieve
excellence and success. In this work the main administrative functions that
systematize through different actions and strategies the operationality of the
business are exposed.
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MANAGEMENT PROCESS
1. CONCEPT
Business management encompasses all the necessary notions (knowledge,
methods, techniques) to manage an organization, according to a given direction,
ensuring the expected level of performance. Management process is defined as
the art of leading teams and making the strategic decisions necessary to achieve
objectives.
As part of the management of the organization, the manager will implement a
strategy, define coherent objectives and a goal to be achieved. He will
communicate them to his team: collectively for collective goals, individually for
individual goals.
The process encompasses a set of phases that serve to solve administrative
problems. These are: planning, organization, direction, coordination, and
control. All components are of equal importance and must work in an articulated
and systematic manner. They were first described by Henri Fayol in his 1916 book
Administration Industrielle et Générale.

2. PLANNING
According to Fayol, planning is the most difficult of the five functions. Managers
must plan and develop appropriate strategies to achieve the goals of the
organization. In addition, risks must be identified with plans in place to mitigate
them. Planning must also be coordinated at different levels and consider the
available human and non-human resources. He also stressed the importance of
forecasts at daily, weekly, monthly, yearly, five-year, and decennial intervals.
To be effective, Fayol believed that four components would unite the
organization toward a common goal: unity, continuity, flexibility, and precision.
At the departmental or team level, organizations must plan to create an ideal
environment for employees. Since people are the most important asset, it is
essential to plan activities that promote teamwork, cooperation, and a positive
corporate culture.
The planning process involves:
-Investigation of the environment and competition
-Internal investigation
-Planning strategies, policies, and purposes
-Actions for the short, medium, and long term.
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It also has 2 stages:

-Operative: Includes more specific plans that correspond to each of the areas of
the company and are subordinated to the strategic plans.
-Strategic: determine where you want to go.

3. ORGANIZATION

It is considered a process of gathering physical, financial, and human

resources. This involves identifying the necessary activities, assigning roles and
responsibilities, and delegating authority.
The So-called "departmentalization" advocates dividing logistics centre
employees and operations into small, specialized groups. The leader will
determine his degree of flexibility according to the type of activity or effort that
must be carried out. Therefore, teamwork achieves greater speed and greater
effectiveness when there is an excellent organization.
• " Who does what? » in the short and medium term.
• “How will the missions of each of your team members evolve? »

4. DIRECTION
Managers must clearly and honestly communicate objectives and act in a
manner that reflects company values. Their decisions are based on regular
audits, and they can motivate and encourage employees to show initiative toward
company goals. organization.
The manager decides to adopt a transformational leadership style when
dealing with subordinates. This style is exemplified by leaders who inspire,
motivate, and encourage employees to drive innovation and positive change.
Indeed, these elements for the achievement of objectives must be followed:
✓ Execution of plans in accordance with the organizational structure.
✓ Motivation.
✓ Guide or lead the efforts of subordinates.
✓ Communication
✓ Supervision.
✓ Achieve the goals of the organization.

5. COORDINATION
This aims to create harmony between the different activities within an
organization. For example, spending should be proportional to available
resources, production requirements, market demand, or inventory levels.
According to Fayol, he argues that regular meetings were also a good way to
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solidify relationships between different departments or activities. Harmony is also

created by hiring duly qualified employees for the performance of their duties.
All employees must respect and understand their roles or responsibilities while
working in harmony with others to achieve goals. This works accordingly if there
is an adequate allocation of resources and the hiring of suitably qualified people.

6. CONTROL
Is progress being made towards the goals and objectives established in the
planning phase? Control is vital to guarantee that the procedures are favourable
for the development of the business activity and that the employees act according
to the established guidelines. If not, management must take corrective action.
It is important to note that performance is measured periodically to identify and
resolve issues that may be related to the employees themselves or to processes.
New instructions or additional training may be instituted collaboratively,
depending on the manager's transformational leadership style.

7. IMPORTANCE
The importance of the administrative process lies in being able to take
advantage of the workforce as well as the technical and material resources that
a company must control them in an organized manner and achieve their efficient
use. This means that a company works more cohesively, productively, and that it
guarantees the success of its activities both internally and externally.
These processes involve cycles, that is, an organization will always have to
reconsider new strategies, carry out problem solving, supervise and motivate its
work team. Therefore, its importance ensures the vision of advancing by
complying with the due processes so that the expected results are obtained in
the short or long term. Without this, companies would not work, it would be a
mess, they would not know where to go or what to do in case of difficulties, as
well as an environment lacking in motivation and initiative, that is, a culture
without commitment and without any direction.

"Without continual growth and progress, such

words as improvement, achievement, and
success have no meaning."
- Benjamin Franklin, politician

Business process management isn't a project with a defined

start and end date. To get efficient results, we must make sure
processes grow and adapt according to the business, so we
may need continually improving them.
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CONCLUSION

Knowing how the administrative process works and the characteristics of each
function will bring us benefits such as improved team performance, increased
production, customer satisfaction, economic growth, etc. For this, it is vital to have
managers capable of motivating and leading the team, assigning the
corresponding tasks so that resources are managed efficiently, and the proposed
goals or strategies are achieved. It is also important to have a clear direction and
monitor whether the expected results are being obtained or, on the contrary,
alternatives must be replaced to solve the problems and mitigate the risks.
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REFERENCES

Certus. (2021, February 23). Retrieved from

https://www.certus.edu.pe/blog/que-es-proceso-administrativo/
Gennaro Cuofano. (2023, January 13). FourWeekMBA. Retrieved from
https://fourweekmba.com/fr/five-functions-of-management/