Introduction
Dubrin (2008) emphasized management focuses on the successful implementation of the four functions. The research focuses on the organizing function of management. Likewise, the research centers on the planning aspect of the study. Third, the research scrutinizes the controlling of the company’s assets, liabilities, capital, revenues, and costs. Fourth, the study includes scrutinizing the leading part of the management process to lead the line and staff personnel to increase net profits and increase revenues.
Also, Fisk (2006) reiterated the research focuses on the four Ps of marketing strategy. The research delves into the product quality issue when generating revenues. The research also focuses on the place issue in marketing. The study zeroes in on the price factor in increasing General Electric Company’s revenues. Lastly, the study centers on the promotion aspect of the revenue-generating activities of General Electric Company. Management entails the maximization of the four major functions of management to accomplish organizational goals and objectives.
Business Organization Analysis
Based on the company’s financial statements, the company is well managed. Maguire (2007) emphasized the bottom line or passing grade in terms of the financial aspects of the company is a net profit picture. General Electric Company’s successful implementation of the planning, leading, organizing, and controlling functions precipitated to a profitable financial statement data for the years 2007, 2008, and 2009.
The Company’s financial statements indicate General Electric Company generates net profits for the years 2007, 2008, and 2009. Also, the company generated profits by complying with its social responsibility and to protect the environment from pollution. Morgan (2003) opined the profits were generated by maximizing scarce resources or assets to increase revenues. The company reduced avoidable expenses to the bare minimum to ensure a profitable business endeavor unfolds during each accounting period.
Baumueller (2007) reiterated the company’s profitability is the result of the company’s strategic planning process. The company’s profitability is the result of organizing the best minds from around the world to research, develop, and market innovative new light and equipment products and services. The profitability precipitated from the company’s leading the best minds in the industry to implement the organization’s goals, objectives, and other profit-based itineraries.
Helfert (2001) insisted the company’s profitability is the result of controlling avoidable expenses as well as the people responsible for spending the company’s money and other scarce resources. The line and staff’s training with an emphasis on freely embracing the social responsibility and environment –centered cultures of the company was very instrumental in bringing General Electric Company to where it stands today – a respectable giant in the business world.
Based on the above practical and theoretical knowledge discussion, Kouzes (2010) explained it is very clear that General Electric Company is well managed and the company is undoubtedly doing what it says it is doing – serving the needs of the world while generating a hefty profit for the years 2007, 2008, and 2009. Currently, there is no glaring or significant gap between the information discussed based on the four functions of management.
In terms of strategy, Cameron (2006) proposed the company is doing profitably well. The company’s strategy entails maximizing scarce resources coupled with excellent supply chain management and the implementation of the four functions of managed. In terms of tactical and operational strategy, the company hires the best people from around the world to contribute their best to produce products and services that snugly fill the needs, wants, and caprices of current and prospective clients.
The discussion stating the generated net profits for the years 2007, 2008, and 2009 is very strong evidence that General Electric Company is successful in implementing the discussed marketing and management strategies.
According to McDonald (2007), the above discussion shows that the company never violated any environmental laws in the pursuit of earning profits. Consequently, the company continues to achieve its goal of implementing its mission and vision to the end that everyone will benefit from the care that General Electric Company bestows on the world community. Since there is no gap between legally-established environmental protection policies and the company’s work standards, there is no need to close any gap.
In terms of strategies, Morgan (2003) insists the company’s current marketing and management strategies generate profits. A company that generates profits gets the smile and approval of shareholders. A happy shareholder will contribute more scarce money and other resources into the General Electric Company’s balance sheet accounts. Had the company generated a net loss, there would have to be an adjustment made in the General Electric Company’s management and marketing strategies to remove the gap.
Conclusion
Based on the above analysis, Management entails the maximization of the four major functions of management to complete organizational goals and objectives with finesse.
Management’s organizing function is very instrumental in generating General Electric Company’s revenues. The organizing part of management is very useful in capturing the prospective market. The planning part of management is very instrumental in setting the company’s next uncharted path towards increasing its market share. Management’s control of the company’s assets, liabilities, capital, revenues, and costs will translate to higher net profits.
Management should lead the line and staff personnel to increase net profits and increase revenues. The four P’s of marketing strategy must be implemented to retain the company’s market segment revenue share. The product quality issue is very vital in terms of generating revenues. The place issue should be implemented to increase the company’s market segment revenues. The price variable aids in significantly increasing General Electric Company’s sales figures.
The promotion part of the revenue-generating activities of General Electric Company should be seriously handled to keep a strong foothold in the company’s market segment. Indeed, management’s successful implementation of its four functions precipitates the subordinates’ enthusiastic compliance to achieve benchmark productivity levels and the realization of the organization’s goals and objectives with flying colors.
References
Books
Baumueller, M. (2007). Managing Cultural Diversity. New York, Lang Press.
Dubrin, A. (2008). Essential of Management. New York, J. Wiley & Sons Press.
Fisk, P. (2006). Marketing Genius. New York, J. Wiley & Sons Press.
Helfert, E. (2001). Financial Analysis. New York, McGraw-Hill Press.
Kouzes, J. (2010). The Leadership Challenge. New York, J.Wiley & Sons Press.
Maguire, M. (2007). Financial Statement Analysis. New York, Grin Press.
Mcdonald, M. (2007). Marketing Plans. New York, Butterworth Press.
Morgan, E. (2003). The Multinational Firm. New York, J. Wiley Press.