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Functions of Management Week One

In: Business and Management

Submitted By sekordt
Words 1024
Pages 5
A successful manager is one that leads his company to a stated objective by using all means available for accomplishing it by known procedures, guidelines and resources accessible. In order to reach this concept four functions are recognized. The four functions of management stated are planning, organizing, leading and controlling. Each of these functions helps the manager in a specific manner to aid in his managerial role. Many recommend following these four steps in order to achieve the success anticipated for future plans of the company. All four of these functions need to be given an equal amount of time as they are important elements in any organization field. For the sake of this paper will use the Real
Estate profession for example.
The Four Management Functions and how they relate to Real Estate:
Planning
Planning is the first tool of the four functions in the management process. The difference between a successful and unsuccessful manager lies within the planning procedure. Planning is the logical thinking through goals and making the decision as to what needs to be accomplished in order to reach the organizations’ objectives. Managers use this process to plan for the future, like a blueprint to foresee problems, decide on the actions to evade difficult issues and to beat the competition. (Bateman, Snell, 2009). Planning is the first step in management and is essential as it facilitates control, valuable in decision making and in the avoidance of business ruin.

Any successful Real Estate company has a vision to lead the way to do it better than the next. Although realtors are independent contractors it is important that the company they have affiliated their name with are committed to their goals and strives for customer excellence. It is important that everyone upholds the company’s mission statement and set plan

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