Functions of Management

In: Business and Management

Submitted By nodiluxor
Words 1100
Pages 5
Functions of Management

Nedim Muzur

330/Management: Theory, Practice, and Application

May 31, 2010
Kathy Mass

Functions of Management

The four fundamental functions of management are: planning, organizing, leading, or directing, and controlling. In the course of any typical day, executives and managers spend time meeting and talking with employees, customers and investors, and also top managers spend some time in the public as well. Working and living as a manager involves different tasks, and four basic managerial functions must be considered in any management position. A good manager must maintain the balance at work and keep employees motivated. “In the business world today, the great executives not only adapt to changing conditions but also apply fanatically, rigorously, consistently, and with discipline the fundamental management principles” (Bateman-Snell, p. 19, 2009).
The first and basic function of management is planning. Planning is the process and the base upon the all the areas of management should be built. The vision and mission are the broadest views of the organization, and the objectives are the narrowest views. Planning is the process in which managers anticipating future events, and effective planning helps businesses crystallize their visions and missions and avoid costly mistakes. Effective planning is all about evaluation of the business environment and a roadmap of the actions needed to lead the company forward. For the planning to be effective, it should be flexible and responsive and should involve managers from all levels of the organizations. As technology expands and an innovations increase on every level, and also globalization is reaching all corners of the world, planning for the future becomes even more critical. Planning can be divided into the following categories: strategic, tactical, operational, and…...