The Four Functions of Management
Before defining the four functions of management, one must define and understand the word management. Management is simply being able to work with individuals and utilize resources given to obtain organizational goals. Great managers are very effective when they can achieve organizational goals and are efficient when they can make the most excellent uses out of the resources given such as money, time, employees, people, and material, with a minimal amount of wasting of these necessities. There are some managers who focus on one area at the expense of another or fail at both. Managers like that have poor managing skills.
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In strategic planning, company’s examines internal and external factors in strategic planning, goals and objectives, the strength and weaknesses of the company, as well as threats and opportunities on a comprehensive and realistic approach.
Organizing is the second function of management. In the business realm, organizing is coordinating and assembling a company’s finances, information, physical, human and other resources needed to accomplish company’s goals. Organizing projects include defining job responsibilities, allocating and marshaling resources, creating conditions and environments where individuals and things all work together to achieve the best possible outcome, attracting people to the organization, and grouping jobs into work units. Management must gather and organize all resources in order to enforce the plan of action, which was implemented in the planning process.
The third function of management is leading. Leading is simply stimulating others to perform at their best. This includes communicating and motivating employees in groups and individually. Leading can take place in departments, divisions, teams, and also among the top people of large companies. Management is also able to supervise and influence the performance of staff in accomplishing the organization’s goals and objectives, as well as helping staff with career and personal goals. For example, companies come up with reward and incentive programs because they now that a highly motivated employee is a great asset to the company and they play a major role in the company obtaining its goals.
Communication is a key factor in leading because it maintains an effective and efficient work environment. It also constructs problem solving and...