Functions of Managment

There are four functions of management that are essential to the success of a company as well as the individuals that work for it. These functions are known as planning, organizing, leading, and controlling. Each of these functions plays a vital role in management at any level. These four functions work with one another and alone they will not function efficiently. These functions feed information to one another and using one function without the other will produce lack luster results.

The function of planning in management according to Rane (2007), planning is the core area of all the functions of management. Planning is the foundation upon with the three other areas should be built. Without the planning function there would not be any direction for the other three functions to move in Planning is not something that is done once. Strategic planning needs to be done on a regular basis to keep the company on the forefront of the market and company needs.

Strategic planning involves constant evaluation both internal and external factors of where the company is and where the company needs to go to stay competitive, and in addition how they are going to achieve that goal. Planning also includes the evaluation of how much of the companies resources will need to be used or purchased to achieve the company’s goals. Planning requires the gathering of both internal and external information. This internal and external information is then analyzed to continue with the overall planning of how much of the companies resources will be needed to achieve these goal.

As it was states earlier in the paper each one of these functions essentially work together. The second function in the four functions of management is Organization. The organizational function takes the companies planning for the company and organizes all the companies resources both physically and monetarily to help achieve the companies goals. The company will also organize the internal structure of the leadership as well. It is an important part of the planning process. It is important to organize and distribute specific responsibilities and tasks to the correct division or department. Then the organizational process can be then further broken down into staff level responsibilities. Without proper organization and utilization of the monetary and physical resources strategic planning and adjustments to that strategic planning the company will be disorganized and this would lead to inefficiency and wasting of company resources.

The third function of management is directing