Functions of Management
In an out of control market, companies in trouble, some in more ways
than one, struggle to make it. Some crash and burn and others get swallowed by larger
organizations. Recently Countrywide Financial Corporation (also known as Countrywide
Home Loans) agreed to a full buyout deal offered by long-time business companion and
investor, Bank of America Corporation. By no means does that mean that Countrywide is a
small-time company, they were the leading home lender in the nation. Countrywide
established a name for itself and has serviced the “American Dream” for nearly 50 years,
which would obviously require great management. Although there are numerous levels of
management in such a corporate giant, the term “management” roughly refers to activities
involving four functions; planning, organizing, leading, and controlling.
Planning
Planning is the process of identifying goals, objectives, and drawing out the steps and
dates for achieving the goals. Some would argue that without planning not many goals
would get accomplished. In fact, the three other functions of management would stem
from this initial step. It would be a difficult task to organize a staff if there are no planned
goals to be achieved. Since no staff has been organized there is no leading or controlling
needed. In 1969 Angelo Mozilo along with friend and business partner, David Loeb sat
around the table of a small Brooklyn pizza house and began to plan their own mortgage
lending company in New York.
Organizing
This step is crucial in reaching the goal in the most efficient manner. Organizing a staff and
