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Student's Book Form Five

Table 2.3: Components of the articles of functions work together to achieve or
association realize the company’s objectives.

1. Organisation structure.

2. Powers and rights of each
shareholder including the founder
FOR ONLINE READING ONLY
or owners of the company, and the
power of the board of directors.
3. Election of the management
committee.
4. Organisation meetings.

5. Information on business financing
sources.
6. Company accounts and records.

7. Management salary.
8. Information on borrowing,
dividend, and reserve policy. Source: Adapted from Koontz & O’Donnell,
9. Information on transferability of 1968
shares. Figure 2.2: Managerial functions

10. Information on book-keeping and Planning: Planning is a basic function
auditing requirements. of management that focuses on setting
11. Information on altering capital. up the courses of action that facilitate
12. Information on the qualifications, pre-determined goals of the company. It
duties, and power of directors. informs about what is to be done, when
it should be done, and the way it should

Company’s management be done in realizing the company’s
Company management involves an objectives. Planning plays an important
role in the future of the company as it aims
interaction among company’s key at underlining the best ways of utilizing
stakeholders such as shareholders, directors, company’s resources effectively.
and workers. Managing a company involves
a dynamic interplay among these key Organising: Organising refers to a process
stakeholders each playing a crucial role of identifying and pooling together the
in steering the company towards achieving necessary resources such as human,
its goals. The company’s management physical, and financial resources which
functions include planning, organising, are required in the implementation phase
staffing, controlling, coordinating, and for achievement of company goals.
leading as shown in Figure 2.2. These Organising as a function of management

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