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Four Functions of Mgt

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Running head: THE FOUR FUNCTIONS OF MANAMGEMENT

The Four Functions of Management Running business requires effective and efficient management. Management is the process of working with people to achieve common goals with minimum waste of time, money, people and materials. Perspectives will show the act of management comprises of planning, organizing, leading, and controlling.
Planning:
Planning is the function of business that involves setting business objectives and determining a course of action that will facilitate business profits while increasing shareholder value. Planning activities include analyzing current business situations, looking forward and evaluating the future, determining objectives and formulating strategies, Bateman and Snell (2009). Planning is a constant and fluid function. Business can never know what to expect so planning has to remain a function that can be changed to meet circumstances that may have been unforeseen.
Organizing:
Organizing is the second function of management. Managers need to organize all resources prior to putting a course of action into effect. Organizing is assembling and coordinating resources such as; human resources, capital resources, and information resources. Organizing is attracting people and money to implement information to achieve preset business goals. Organizing takes place at all levels within an organization and involves deciding how to best divide work throughout the organization. Organizing includes deciding what part of a business should handle a specific function. Other decisions can include demographics, customer needs, and organization specialty.
Leading:
Leading is the third function of management. In the leading phase organizations will encourage employees to achieve high performance. In the leading phase, managerial motivation and effective communication is...

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