tactical and operational decisions. The aim of this paper is to discuss the four functions of management namely: Planning, Organizing, Directing and controlling. Planning This is the first management function and it is a very important area of all the four functions of management. This is the core foundation of management from which other management functions are derived and built. Planning requires the management of an organization to do thorough evaluation of the current state of the company and
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through the main four functions of management is one key to seeing success, both with the operation and with employees. The first stage, "planning involves developing a systematic process for attaining the goals of the organization...Leaders make change happen through planning instead of reacting to change" (EntEd 2007). With this said, a vital part of the planning process on the management end will involve three important activities. The first of which will be to lay out the goals that will be set
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WHAT IS MANAGEMENT? Management is a universal phenomenon. It is a very popular and widely used term. All organizations - business, political, cultural or social are involved in management because it is the management which helps and directs the various efforts towards a definite purpose. According to Harold Koontz, “Management is an art of getting things done through and with the people in formally organized groups. It is an art of creating an environment in which people can perform and individuals
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are several things to consider. There are four functions of managing planning, organizing, leading, and controlling; these functions are very important in becoming a successful manager. In this paper the four functions will be discussed and explained. Planning, in order to have a successful business one must have a blueprint or map to carry them in the direction they want the company to go. There are three steps to planning 1) deciding which goals the organization will pursue 2) what strategies
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| 7/22/2012 | | . | Process: The processing tools of management are: 1. Planning Planning bridges the gap between where we are to where we want to be. For example, if a person wants to earn money, then he has to plan how he’ll earn money: by doing job in offices or by looting banks or whatsoever. 2. Decision Making After
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functions are planning, organizing, leading and controlling and are all crucial to the success of any manager. Managers exist in every business. In fact, managers do the same types of tasks in all businesses. Whether a person manages a hair salon or a factory, the manager’s job consists of similar tasks. Planning, organizing, leading and controlling all serve an important part in achieving management’s vision. Each component is important and one cannot function well without the others. Planning is preparing
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early leading theorists for revolutionising the ideas of management. His vision and work categorised the principles of a manager into fourteen main categories. Fayol streamlined his work into four primary function of management; leadership, planning, controlling/monitoring and organising. Using these four categories we could outline the role of a team leader. (http://www.mindtools.com) Leadership – It is a team leader’s responsibility to know and understand the objective and purpose of when to act
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Businesses all across the globe use the “core four” functions of management. These four functions are planning, organizing, leading, and controlling. Each one has a different need for a different purpose in order to achieve maximum results. Planning is what set sets the layout for the day to day operations. Without a plan, nothing will get done. Many different attributes come into effective planning. In the warehousing and distribution field of Ryder Logistics, operations are planned daily. At the
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elements in financial management that are recognized are the planning, controlling, directing and organizing and finally decision making. These four divisions are based on the principle that each duty is structured on. Some systems only focus on stress the three main elements which are planning, controlling, and decision making and most consider organizing and directing as a vital part of the element of control Financial executives recognize planning as a step that is required in order to reach the organizations
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significant concepts used for planning and controlling organizations performance since the early 20th century. As a process, budgeting comprises of a set of activities and procedures that undertake the development of a budget. Budgets are used by corporations to serve various operational and functional purposes that include facilitating in planning process, predicting future development, simplifying communication, allocating resources, motivating employees and controlling operations. The process is
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