Four Functions of Management

The four functions of management

The four functions of management are very important to ensure a business is successful. These functions are: planning, organizing, leading , and controlling.
Planning is the first step in managing. In this step, goals and objectives are set. In this step the manager must take in account how to use funding, staff, and utilize time effectively. In this stage planning helps layout how to focus on initiatives that are beneficial for the company. Planning is a priority in successful management.
The next step of management is organizing. Organizing pretty much lays a foundation with all the working parts of how the organization will operate. In ...

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a team involves motivating staff, praising or criticizing, setting individuals' objectives and ensuring these are being achieved. It also involves leading by good example and persuading or convincing the team of the importance of the organizational objective.
Finally, the final step in this process is to control (known as controlling). Performance reviews of employees are overseen, as well as how finances are utilized effectively. This is generally seen in the Human Resources, and the financial part of a company. However, every manager should exercise their position to control its budgetary spending, its department’s performance and cost efficiency of the work implemented to achieve objectives. Without consistent controlling a manager won't know if their budget is spent in the most profitable way and a manager might not notice the signs when changes should be implemented. It will reduce the return of investment and therefore limit the success a manager can achieve within ...

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for the future has to be set. Next a plan has to be devised to explain how the objectives can be achieved. This needs to take into account human and monetary resources, time and constraints. It is not uncommon that a lack of planning results in the failure of a campaign or project. A plan ensures that there is some level of focus on the activity and all stakeholders know what they can expect and when they can expect it. Without a plan nobody will notice if timings are no longer adhered to and the project gets delayed or too expensive to be beneficial. Not planning can result in expensive deviations and failures. For these reasons sound planning needs to be at the top of a manager's ...

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PAPER DETAILS
Added: 12/18/2011 01:57:02 PM
Submitted By: tiniikapelt
Category: Business
Type: Premium Paper
Words: 1259
Pages: 5

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