University of PhoenixFunctions of ManagementThe McClatchy Company is the third largest newspaper in the United States and has been in business for over 150 years. The phoner owns 30 periodical newspapers such as The Sacramento Bee, The Fresno Bee, and The Modesto Bee. Because the newspaper industry book been monetaryly affected by the economic downturn of the really estate market and the growing competition by online assort advertising, McClatchy have set in place some goals to adduce a reasoned business future by implementing the foursome functions of precaution such as excogitatening, organizing, leading, and controlling.
The first function of management is the planning stage. The goal of every business is to make a profit from the product and service they provide. However, as companies face financial challenges like McClatchy, top-level managers evaluate their current financial status to ready what plan of action is needed to maintain a healthy bottom line. According to Bateman & Snell (2007), ?Planning is specifying the goals to be achieved and decision making in advance the appropriate actions needed to achieve those goals.? Because the gross in classified sales is down and the goal of McClatchy is to deoxidise financial liabilities, management determined that cutbacks are necessary to tally the future health of the company.
As stated in Stecklow?s, (2008) article, Gary Pruitt, the chief operating officer of McClatchy said, ?he?s focused on turning the company around by reducing debt, expenses, and all-inclusive-time employees?? As McClatchy followed the plan for reducing their debt, such as outsourcing artwork production of film newspapers like the Modesto Bee, the change eliminated five artist positions. Another reveal of the plan was to offer voluntary buyouts to more than 100 employees at the Modesto Bee, in which nine employees accepted the offer. The recent company grand layoffs that was announced on June 16, 2008...
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