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Write a 3 pages paper on planning function of management. The overall focus of planning process however based upon establishing a company which can be market leader in the long distance calls market n
Write a 3 pages paper on planning function of management. The overall focus of planning process however based upon establishing a company which can be market leader in the long distance calls market niche.
Apart from this, planning function was a top down approach wherein higher management was mostly responsible for all the management planning function at the organization. Plan came from the top and lower level management actually followed the plans without actually providing effective feedback to the higher management. This aspect of planning therefore made it relatively rigid to adapt itself to the different external scenarios wherein top management actually failed to realize overall market movements.
It is also important to note that there was a lack of alternative plans for the organization to deal with any contingency.
When the overall crisis hit the organization, there was generally lack of alternative plans available to deal with the contingency. Lack of effective plans to deal with the contingencies suggested that the firm was unable to defend itself against any bankruptcy proceedings and the only way out for the firm was to file for bankruptcy.
Influence of Issues
Considering the overall nature of the fraud committed by WorldCom, it is relatively obvious that the firm had not been influenced by the legal as well as ethical issues. It also failed to follow the corporate social responsibility codes and procedures also while reporting its overall financial state of the affairs.
