Business Week 5: Explain how Fayol’s functions would work for Joy in her service business.

Business Week 5

When Henry Fayol developed the four functions of business he focused on manufacturing firms. His goal was to make managers produce products in the most cost-efficient way possible. Today manufacturing makes up 18.9 % of GDP in America while services makes up 80.3%.

Read the following case scenario:

Joy runs an event planning company. She specializes in weddings and corporate banquets. She offers her clients a service. She plans the affair, hires the caterers, musicians, space, chairs, tables, place settings, dance floors or anything that the client wants for the theme of their event.

Explain how Fayol’s functions would work for Joy in her service business.

Use the following articles to assist in crafting an explanation:

Application of the Henri Fayol Principles of Management in Startup Organizations

http://iosrjournals.org/iosr-jbm/papers/Vol19-issue10/Version-4/K1910047885.pdf

The World Fact Book

https://www.cia.gov/library/publications/the-world-factbook/fields/2012.html