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Functions Of Management

Functions of Management
Businesses are more competitive now than ever due to globalization and technological advances. Managers in the fore front of their businesses must be able to keep abreast of the market. They have to be able to efficiently adapt to changes and remain innovative in their leadership approaches. In addition, managers need to uphold the company's policy by being cost-effective and provide quality customer service to retain the customers. For success, managers need to implement the four facets of management: Planning, Organizing, Leading, and Controlling.
Planning is the foundation of an organization. It is a strong developed process that starts even before inception of an organization. The planning phase involves establishing goals and developing strategic ways in which these goals will be achieved. An organization with a strong roadmap will be one step ahead of their competition and if thought out clearly, have a back-up plan for unforeseen obstacles that comes along with doing business. Like any house, laying a good foundation before building creates a stronger home and the same can be said for the planning aspect of a company.
Organizing is the gathering of resources to fulfill the goals and objectives of a plan. To effectively compete in a market, a company has to be able to gather its resources in a streamlined manner. If the company's product relies on the shipment of goods from the United States to China and the shipping process has not been developed fully, major delays and failed deliveries could occur setting back the company. If the company delivers goods that are time sensitive, especially if their market has a product cycle refresh, but cannot get the shipping process to work efficiently, the lost could be insurmountable. That's where a good manager comes into play. The manager needs to focus on the situation at hand and be the contact point between the two organizations. He/she needs to stay on top of the schedule so that the...