The management functions have a close relationship among each other. To plan, organize, lead and control is one management objective with interrelated activities. Each function is geared towards achieving the company goals. Managers in an organization must make plans, and organize the plans according to the company strategy (Daft & Marcic, 2016). The management will then lead the company towards attaining the set plans and finally controls the working environment by ensuring smooth company operations. Each function builds on the other and when performed properly they became the reason for organizational success.
CarMax Auto Superstore is a company that was established in 1993 to sell used cars in Richmond, Virginia. Initially, the company was selling used cars only and it is still the largest share of the market. Today, the company operates 195 locations in 95 television media markets, and while it focuses on selling used vehicles the only new vehicle dealership remaining is in only three locations (Self, Jordan & Portis, 2014). The company mission statement is to provide the customers with quality cars at affordable price with exceptional customer service guaranteed.
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CarMax Auto Superstore has a defined strategic goal of focusing on future growth by adopting a concept of innovation including ongoing analysis and operational initiatives. The company management is focusing on ways to improve the operational processes so as to increase the market share as a way of maintaining competitive advantage (Kerzner, 2017). The tactical plans concentrate on ensuring that functional responsibility of middle level managers align with strategic plans (Daft & Marcic, 2016). For example testing and calculating a set of decisions at the lower level to support strategic decisions in the organization. Operational plans are executed by supervisors who guide the employees towards improving their performance. For example managers must plan the daily routine activities to be carried out in the organization as operational plans.
The company Chief Operations Officer is mandated to manage and control all goals at every level of organizing function. Kerzner (2017) asserted that legitimate power and expert power are most essential in leading function, as the manager is given the authority to make decisions on behalf of the company. The manager is also a competent person with more skills and experience to lead the company towards attainment of its goals.
Benchmarking would help to evaluate the progress of the company towards product innovation and improvement of operational activities that will see CarMax expand the business with exceptional services in all its outlets (Schraeder et al., 2014). This will consist of comparing the business performance against the set standards with other businesses in the same industry.
Conclusively, CarMax Auto Superstore is committed to diversity, talent and ideas to continuously improving the business. The company values her customers, associates, suppliers, and all people they relate with in the course of their business.
References
Daft, R. L., & Marcic, D. (2016). Understanding management . Nelson Education.
Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning, scheduling, and controlling . John Wiley & Sons.
Schraeder, M., Self, D. R., Jordan, M. H., & Portis, R. (2014). The functions of management as mechanisms for fostering interpersonal trust. Advances in Business Research , 5 (1), 50-62.
