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MANAGEMENT FUCTIONS: KEY TO SUCCES OF EVERY BUSINESS

BY : DON OLIVER OBUSAN JEREZ - MBA Student, Camarines Norte State College Management is the art of getting things done through and with people in formally organized groups. Based from the book of Harold Koontz “The Management Theory Jungle.”1

“To manage is to forecast and to plan, to organize, to command, to coordinate and to control” is Henry Fayol’s definition on management written in his book “Industrial and General Administration”. On the other hand, given in his book “The Principles of Management”, Peter Drucker described management as “a multi-purpose organ that manages business and manages managers and manages workers and work.”2

From these definitions of management emerges the five (5) major managerial functions of management first is Planning, it is a significant function in the performance of all other functions. The planning function of management directs all the preparation that allows the organization to run effortlessly. Planning engages mapping out exactly specific objectives and determining the most valuable course of action required to achieve those objectives.3 Second is Organizing, it is the process of making certain that required human and physical resources are on hand to execute a plan and attain organizational goals and objectives. It engages the assignment of activities, division of work into definite jobs and tasks and identification of who has the authority to carry out certain tasks. Organizing also involves designating tasks and responsibilities to employees with the specific skill sets needed to complete the tasks.4 Third is Staffing, it is a management function that determines human resources needs, recruits, selects, trains, and develops human resources for jobs created by an organization. Also, it is undertaken to match people with jobs so that the realization of the organization’s objective will be facilitated.5 Fourth is Leading or Motivating, it is a management function, which involves influencing others to engage in the work behaviors necessary to reach organizational goals.6 It involves motivating, communicating, guiding, and encouraging people in the organization for the achievement of its goals and objectives in a timely manner. It requires the leader to coach, assist, and problem solve with employees. Hence leading can be both extremely important and challenging.7 and Last is Controlling, it is the process of continuously checking result against predetermined goals and objectives and takes any corrective actins needed to make certain that the plans stay on track.8

These five (5) managerial functions are essential in making sure that the business transaction of the company stays on track and in attaining the goals and objectives set by the firm. Planning, Organizing, Staffing, Leading, and controlling function are interrelated with one another, the absence of one function can bring chaos to the whole operation of the business.

Planning plays a major role in management it serves as the blueprint or guiding tool for the whole operation of the business. It consists of accurate plan of actions in which the companies are govern making sure that the whole operation is operating based from the drawn plan by the management. Organizing, the job description is being drawn clearly by the management catering the needs for human resources in the company’s organizational structure. The job description is based on the required job specification to the work that had to be done to meet the goals and objective of the firm. Staffing is putting or assigning the right people to do the task in the organizational structure of the business. Hiring people that best suits the job description as stated in the organizing function. Leading is about how the management manage its people in fully realizing its full potential to properly work in the company, hence employees will be motivated and well guided that will be of good use to the management in attaining its goals and objectives. Controlling is monitoring all functions are working as planned and continuously checking result against predetermined goals and objectives and makes curative actions need to make sure that the plans of the company stays on truck. For decades the Philippines’ business sector was monopolized by the Filipino – Chinese and other foreign nationality, below are the thirty (30) list of companies in 2016 that monopolized the business sector of the country based from the PSEi9:

1.	Aboitiz Equity Ventures, Inc. – sector: Holding Firms 2.	Aboitiz Power Corp. – sector: Energy & Utilities 3.	Alliance Global Group, Inc. – sector: Holding Firms 4.	Ayala Corporation – sector: Holding Firms 5.	Ayala Land, Inc. – sector: Real Estate 6.	Bank of The Philippine Islands – sector: Finance 7.	BDO Unibank, Inc. – sector: Finance 8.	DMCI Holdings, Inc. – sector: Holding Firms 9.	First Gen Corporation – sector: Energy & Utilities 10.	Globe Telecom, Inc. – sector: Telecommunications 11.	GT Capital Holdings, Inc. – sector: Holding Firms 12.	International Container Terminal Services, Inc. – sector: Transportation & Logistics 13.	JG Summit Holdings, Inc. – sector: Holding Firms 14.	Jollibee Foods Corporation – sector: Food & Beverages 15.	LT Group, Inc. – sector: Holding Firms 16.	Manila Electric Company – sector: Energy & Utilities 17.	Megaworld Corporation – sector: Real Estate 18.	Metro Pacific Investments Corporation – sector: Holding Firms 19.	Metropolitan Bank & Trust Company – sector: Finance 20.	Petron Corporation – sector: Energy & Utilities 21.	Philippine Long Distance Telephone Company – sector: Telecommunications 22.	Puregold Price Club, Inc. – sector: Commerce 23.	Robinsons Land Corporation – sector: Real Estate 24.	Robinsons Retail Holdings, Inc. – sector: Commerce 25.	San Miguel Corporation – sector: Food & Beverages 26.	Security Bank Corporation – sector: Finance 27.	SM Investments Corporation – sector: Holding Firms 28.	SM Prime Holdings, Inc. – sector: Real Estate 29.	Semirara Mining And Power Corporation – sector: Mining / Energy & Utilities 30.	Universal Robina Corporation – sector: Food & Beverages

The list indicates that most of the key players in the business industry in the Philippines today are run by Filipino – Chinese and other foreign investors. It only indicates that these companies follow the management functions effectively and efficiently. That is why in order to cope up with the competition in the industry, Filipino entrepreneurs must give emphasis in learning the very core of management, entrepreneurial skills, and management functions.

In the local business sector specifically in Daet, Camarines Norte the industry is dominated by local Filipino – Chinese. Based from the report of Camarines Norte News last January 3, 2017 the local government unit of Daet, Camarines Norte headed by the municipal Mayor Benito “B2K” Ochoa awarded and recognized ten (10) of the most outstanding business entrepreneur in the province. Following are the said outstanding players in the industry in Daet, Camarines Norte10:

1.	Super Shopping Market Inc. (SM Hypermarket) 2.	PMFTC Inc. 3.	Starharvest Food Inc. (Jollibee – F. Pimentel) 4.	Jack Trading Inc. (Houseware Plaza Superstore) 5.	Citistores Inc. (Centro Department Store) 6.	Mr. Paul Sebastian D. Tanzo (P. Tanzo Prime Goods Source) 7.	Bicolandia Drug Corp. (Mercury Drug Daet) 8.	Coca Cola Femsa Phils. Inc. 9.	MR. Jorge Tan (Stance Sales and Distributor) 10.	Family Merchant Project Development Corp.

Majority in the list of top ten (10) most outstanding entrepreneurs awarded last January 3, 2017 in Daet, Camarines Norte are Filipino – Chinese and other foreign nationality like for example Family Merchant Project Development Corp. owned and managed by Kho family, Co Family, Papares family, Jose and Aspe family. It only shows that most of the major players in the business sector both nation and local are Filipino – Chinese.

Based from experience and also from colleagues in the business industry most Filipinos perceive that Management is just a simple skill that don’t require deeper knowledge and understanding. That is the reason why most Filipino Entrepreneurs fail to contest and sustain their stand in the market ending-up having a small business-like sari-sari stores and other small businesses. This article aims to show and let the reader appreciate the importance of having good educational background in management, deeper understanding of management functions, and application of entrepreneurial skills.

The success of a company relies on the people behind it both top and lower management working together as one in realizing company’s goal and objective following the company’s plan and making sure that they stay on track. People who are knowledgeable and equipped enough to manage and cope with competition in the industry are the ones who excel and maintain their stand in the industry.

References:

1-4, A. Camillar-Serrano, “Principles or Organization and Management” (2016), p 3-6.

5-6, R. Medina, “Business Organization and Management” (2015), p 115 and 160.

7-8, A. Camillar-Serrano, “Principles or Organization and Management” (2016), p 7.

10, CNNews (2017), “Top 10 Performing Business Establishment sa byan ng Daet para sa 2017, PINARANGALAN.”, Retrieved from: http://camnortenews.com/page/?p=24400

11, PSEi (2016), “The top 30 largest listed companies of the Philippines.”, retrieved from: https://aseanup.com/top-30-companies-philippines-psei/