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Functions of Managment

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Submitted By rcurtis1
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Functions of Management
University of Phoenix
MGT/330 Management
January 23, 2011
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Functions of Management Paper In order to maintain a good company you have to have a good management team that will look after what is in the company’s best interest. Uniquely enough the functions of management describes manager’s jobs. The four functions include Planning, Organization, Leading and controlling. The functions of management define the specific process of management as distinct from Marketing, finance, accounting, and other business functions. Each function is implemented to a business by the management team and how the management team implements these four fundamental functions of management to ensure the business will be run productively, will use resources in a business manner, budget time efficiently and be cost effective.
Planning
Planning is the function of management that will involve setting goals and a course of action to achieve these goals. The management team implements strategic values through planning activities that include analyzing what the current issues are, determine the present and future objectives, decide on the types of activities the company will be involved in, determine business strategies, and choose the resources needed to accomplish the organizations goals. Planning requires that the managers be aware of the environmental conditions facing the company and predict future conditions. It also requires that the mangers have good decision making skills. The planning process has several steps. The process begins with a scan of the environmental conditions which is that planners must be aware of the contingencies facing the company in terms of economic conditions, the company’s competitors, and the company’s customers. Planners must be able to predict future conditions through past requirements from their

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