...Lindenwood University Four Functions of Management Management Concepts Michelle Combs Principles of Management Dr. William Dean 29 January 2015 Michelle Combs Dr. William Dean Principles of Management 29 January 2015 Outline Management: Four Functions of Management in a Business Thesis: Management in the world, whether big or small, is accomplishing goals for the company he or she work for. To be a successful business or organization depends on how well management utilizes the four function of management, rather it is effectively of efficiently. To understand better the fundamental function of management, one must define management. The four functions are planning, organizing, leading, and controlling. I. Planning is the first function of management. A. Strategic planning is the process of analyzing. B. Tactical planning is the intermediate process. C. Operational planning assumes the existence of goals. II. Organizing the function which managers are coordinating. A. Building the organization. B. Attracting people to the business. C. Creating conditions for people to work together. III. Leading is stimulating people to be high performers. A. Leading is the day to day contact with people. B. Inspiring the team to achieve goals. C. Focus on motivating the team. IV. Controlling is the function that monitors performance. A. Implementing the plans of the organizations. B. Making sure that the...
Words: 2176 - Pages: 9
...Four Functions of Management Functional management is an essential part of any business. There are four fundamental functions that are a part of management. The four functions of management are planning, organizing, leading, and controlling. The management functions are interdependent of each other and if one function ignores the other functions, management will not be effective. Planning is the function that deals with the needs of an organization. Part of planning is specifying what strategy is best for the organization and how to employ that strategy. This includes assessing the current market conditions, predicting future events, create objectives, deciding what production will occur, and figuring out what resources the organization will need to make the plan happen. Plans are the foundation of any organization’s operating goals. In the self-storage industry planning is a crucial step in setting up a site. Factors such as size, cost, unit mixture, and fixed expenses are the main goal of planning. The types of units offered have to be figured out and how many of each size is an important part. If there are few sizes or too many of one size the property will not be efficient in meeting customers’ needs. Shopping the competition will help in knowing what an appropriate price is to charge. Knowing what the fixed costs are is important in setting up a financial plan for the company. Organizing is the function of management that involves the human, financial, and other resources...
Words: 781 - Pages: 4
...FOUR FUNCTIONS OF MANAGEMENT Within every business structure are managers. No matter the type of business, a manager’s job is essentially the same across the board but there are four functions of management to consider regardless of the leadership style. In short, those four functions are to plan and implement plans to achieve the organization’s goals, to organize those plans while directing employees in their own roles and ultimately controlling the plan to function as an effective manager. Planning: The manager’s main duty is to determine what the organization’s goals are and what actions to take in order to achieve those goals. Think of it like a football coach creating a playbook to help his team reach the Super Bowl (or something like that). A manager is responsible for creating a ‘game plan’ to reach a specific goal. For example: A weekly plan may include meetings, creating employee schedules or receiving a report that details statistics. These are all actions that a manager plans to implement on a weekly basis. Organizing: Whether it is the employees or resources, the manager is responsible for organizing the daily functions of it all. What shifts are needed? How many employees per shift? Are the employees reaching their set goals? If not, why? These are only a few of the questions asked in the organization process of the management functions. This process can also be considered the backbone of all the management functions due to the fact that this step is more direct...
Words: 503 - Pages: 3
...I read the article “Management Concepts-The Four Functions of Management”, written by Jayashree Pakhare. This article is on the four functions of management, but really there are five functions. The four primary functions are: Planning, Organizing, Directing/Leading, Controlling, and the fifth function is staffing. Planning is the base of which all other areas of management are built. It requires administration to assess where the company presently is and where it would be in the coming years. In strategic planning, management analyses internal and external factors that may affect the company, along with its objectives and goals. One primary tool used in strategic planning is SWOT Analysis. It is a technique that helps organizations find their strengths and weaknesses, identify areas of opportunity, and take preventive measures against threats arising from both internal and external environmental factors. Before planning the appropriate measures should be taken: set objective goals, develop planning premises, recognize limitations, have a plan period, formulate strategies and policies, perform operational planning, and review and appraise plans. Organizing is the second function of management and it involves getting prepared and organized. Management must organize all their resources beforehand to follow the course of action decided during the planning process. They have to try to find the best way to handle the important tasks and reduce unnecessary expenditure within their...
Words: 546 - Pages: 3
...The Four Functions of Management Loren Cohen Lynn University Leadership and Management of Business Organization MBA600 Dr. Lisa Miller September 02, 2013 The Four Functions of Management The four functions of management are an important part of being an effective manager. Some managers are only proficient in one or two of the four functions and not the others (Bateman & Snell, 2013). When this is the case, you as a manager are not performing as effective as you could be, as you are not capturing all of the necessary areas of successful management. The best managers are those that can be both effective and efficient. Those that do this while working with both people and resources to achieve the company’s goals are the successful ones. The four functions that you should be familiar with and practicing are planning, organizing, leading, and controlling (Bateman & Snell, 2013). Planning Planning in management is to prepare for in advance the proper course of action to take to achieve the company’s goals and objectives (Phulpoto, Shah, & Shaikh, 2012). Planning involves where you are now and where you want to be in the future and should be the foundation upon which all areas of management should start. Preparing in advance for the unknown and sometimes uncontrollable environment that management faces (Phulpoto et al., 2012). Planning also described, as ‘delivering strategic value’ that at times can be very complex (Bateman & Snell, 2013). Value...
Words: 902 - Pages: 4
...The Four Function of Management Milton Turnbull MGT/230 November 4, 2013 Mohammad Yunus The Four Function of Management The fundamental management principle is the hub that drives successful management practices in the business environment today. These fundamental function of management planning, organizing, leading, and controlling when apply positively can only bring success in any business environment. Planning is the function that drives the rest of the management functions toward success in an organization. It layout the guidelines that the other function of management feed on for a successful business operation. The activities that surround planning create a step by step list of resources to analyze current and future situation that will affect the organization internal operation. The management function that assembles financial, human, and informational resources is the function in management call organization. It is consider to be one of most valuable resources in any organization. The ability to transform employees through communication and motivation over time into performing their jobs achieving organization goal is the management function called leading. Leading today comes with a combination of encouraging employees to share ideas whether as a group or individual to develop new ways to make the organization successful. Controlling the fourth function of management managers effectively carry out to make employees keep by the set goals of the organization...
Words: 298 - Pages: 2
...The Four Function of Management MGT/230-Management Theory and Practice Mandy Kinsclaird Robin Professor Arnold Bereson University of Phoenix May10, 2013 Management is described as a process of working with people and resources to accomplish organization goals. The function of management involves planning, organizing, controlling; and leading. There are factors that can influence and affect each functions. Effective planning is essential to the organization and its overall success. Planning identify the goals that have to be achieve and the means to achieving these goals. The manager is responsible for analyzing current situations, objectives, business strategies; future trends, and determining the resources that will be used and needed. Valve is the monetary amount gained from services that meets customers and client’s needs (Bateman and Snell, 2009)). Achieved goals are accomplished through assembling and coordinating financial information and other resources. The text describes organizing function as building a dynamic organization. This can be accomplished when people are working together to achieve the maximum success and by using skilled collaboration. Leading involves motivation, communication, guiding, and inspiring members to achieve certain goals. Managers should have leadership skills. They should also be able to encourage people to share their ideas and input during schedule business meetings. Controlling is another function which is needed...
Words: 1321 - Pages: 6
...Four Functions of Management 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. Planning is setting your ultimate goal, plan and task it in a convenient way. First goals need to be set, then strategies and standards need to be implemented, last resources have to be obtained and collected. The manager later needs to assign chores and goals for the employees to undertake in the next step in the heirachary. This is implemented in staffing agency by having a fore plan of the suitable candidate requirements; a goal set, and guided steps one needs to use to choose him/her. It usually answers the following question: What is the current situation in hand? What is the destination I want to reach? How do I reach this goal? In many situations the plans need to be changed, therefore usually a DOM (Daily Operations Manual) is used recommending employees to read through them everyday...
Words: 644 - Pages: 3
...Four Functions of Management Rental Management Incorporated uses the four functions of management in its operations. The main objective of an organization is to achieve its mission. In order for the organization to reach its max potential, it needs to include the foundation of the four functions of management: planning, organizing, leading, and controlling. The understanding of the functions and how the organization uses them in its day-to-day process is important among the management team. Rental Management Incorporated, RMI, uses the four functions as a foundation to its success. The management team is the team that works with the people and resources to accomplish the organizational goals set in the four functions of management: planning, organizing, leading, and controlling. It is important to use each of them with one another to have the organization to function properly. Planning The first function of management is the planning function. An organization needs the planning process to develop the mission of the organization and the main objectives to take place. This function continues to expand upon the ideas of what the organization should entail and how it is to be established among the organization for success (Adam, 2009). The planning stage is the process of delivering strategic value from top-level management into the organization. Organizing The strategic management, also known as top-level management, begins the function of organizing. This management...
Words: 1082 - Pages: 5
...The Four Functions of Management Timothy John Barabin Grantham University Abstract The paper discusses the definitions of the four functions of management; Planning, Organizing, Leading, Controlling, and their effect on organizational success. Keywords: organization, , management, planning, leading, organizing, controlling There are four main functions of a manager's responsibility that needs to be completed. That is planning, organizing, leading and controlling. Normally employees only get to see the last two. Leading and controlling, but behind closed doors the planning and organizing takes place. A large amount of the managers time is spent planning and organizing so that the jobs of the employees can run smoothly. (Four Functions of Management, n.d.) Planning is a process to develop a strategy to achieve a stated objective or desired outcome. The planning process identifies the goals or objectives to be achieved, formulates strategies to achieve them, arranges or creates the means required, and implements, directs, and monitors all steps in their proper sequence. It's up to the manager to identify which goals need to be planned within their individual areas of responsibility. Planning should be focused on day to day and long term operational goals. Failure to plan is planning to fail. (Planning, n.d) The organizing function normally follows the planning stage. Organizing is the function of management...
Words: 826 - Pages: 4
...The Four Functions of Management 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. There are four key functions of management. These functions assist with achieving organizational goals. They are planning, organizing, leading, and controlling. One who is a great manager will also use these four functions effectively and efficiently. Planning The first function to discuss is planning. When one fails to plan, he plans to fail. This is a saying that has been around for a long time and never will get old. Planning is a core value and the first step in the functions of management. The other three functions should be constructed from planning. Planning is defining all goals needed to be accomplished and deciding the tasks needed to be given in order to achieve those goals. Planning projects involve anticipating the future, analyzing current situations, determining the resources needed...
Words: 835 - Pages: 4
...Four functions of management paper MGT/330 | The Four Functions of Management | | Justin Walker | 8/30/2011 | The four functions of management are planning, organizing, leading, and controlling and they are very essential to the success and structure of any organization. Without these key parts there is no foundation to as how the organization will formulate and execute their strategy to accomplish the organizational goals and meet quotas. Each function is important individually but without each function strong as links in a chain then none of them will be efficient alone if all of them are not efficient together as one. Planning means setting performance expectations and/or goals for groups and/or individuals to channel their efforts towards the achievement of organizational objectives. Planning is a process consisting of several steps. The process begins with environmental scanning, which simply means that planners must be aware of the critical contingencies facing their organization in terms of economic conditions, their competitors, and their customers. Planners must then attempt to forecast future conditions. These forecasts form the basis for planning. It also includes gauging or measuring whether expectations and goals are being met. Involving employees in the planning process will help them understand the goals of the organization, what needs to be done, why it needs to be done, and how well it should be done. Planning is proven effective to insinuate getting...
Words: 956 - Pages: 4
...Four Functions of Management Four Functions of Management A manager has several duties and responsibilities; some of these duties will vary depending on the organization they are employed by. However, the primary concerns a manager must address are common to any organization and, according to Hartzell, Sherri (2003), can be streamlined to four basic functions; planning, organizing, leading and controlling. Each function is equally important to the success of the organization. The proficiency in the execution of each of these four functions can affect the efficiency of each of the other functions. Planning should be the first consideration. Planning helps a manager determine what needs to be done in order to meet and attain company goals. Without a plan of action, it would be hard to determine the best way to organize a company and its employees in order to achieve the company goals. Once a plan has been decided upon, a manager must start organizing subordinates and work routines in order to place the plan into action. Organizing can involve things such as setting up different teams, designating team leaders, rescheduling work shifts, etc. Leading is also a critical step in the successful implementation of a plan. A manager needs to lead subordinates in order to motivate and inspire them to work towards the common goal of the plan and ensure each subordinate understands the expected outcome of the plan. The last function of a manager that needs to be addressed is the controlling...
Words: 1247 - Pages: 5
...Being a manger is always a very rewarding job, in the world of management, managers not only have to manage themselves, but they are also in charge of their staff, the company and the consumers. In order to run a very successful company a manager must always follow the four functions of management. The four functions of management is planning, organizing, leading, and controlling. I am currently a manager for one of Gap Inc. stores, and on a daily basic I must make sure that I am always controlling our payroll, so we do not use to much hours a week. Using the four functions of management always help me to stay on top of everything. Planning means; looking ahead and chalking out future courses of action to be followed. Every week my store gets a total of four hundred hours that has to be split between four manager, one supervisor and about twenty five employees. Knowing that we have such few hours, planning always comes into effect. Planning a schedule, we need to know what sale events is coming up, just so we can see if we can afford to invest a major amount of hours for that day, because we know that we will get our hours back once we exceed our budget set for that days goals. Managers are responsible for organization of the company and this includes organizing people and resources. When running a store the one thing that must and should always be consistent regardless if goals for a store has change, or management has change, and that is a manager should always be organized....
Words: 826 - Pages: 4
...The Four Functions of Management Marlowe McConnell MGT 330 January 13, 2013 Kathleen Dominick The Four Functions of Management Management requires a person to think strategically and organize a plan in order to be successful and build a lasting relationship with both the company that they work for and the team that they are leading. To achieve this, managers needs to implement the four functions of management; planning, organizing, leading, and controlling. The four functions of management are used in all industries and all management should effectively understand and utilize this skill to be the most productive and successful. Planning is the first step in the four functions; managers should create a detailed action plan aimed at some organizational goals (Education Portal, 2013). A plan should have a detailed set of goals to be achieved and the actions needed to reach those goals. The plan can be revised as goals are met or objectives change. The plan should include the objectives needed to reach the goal, obstacles that may arise, actions to reach the goal and to deal with obstacles, alternative courses of action, derivative plans, motivational tools, and how to implement a course of action. Strategic plan, tactical plan or an operational plan are usually implemented by the different levels of management in order to reach the different goals of an organization. A strategic plan would include the entire organization and a formulation of different objectives...
Words: 869 - Pages: 4
