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Fundimentals of Management. Functions of Management There are many different
management techniques and style. However, there are ...
Submitted by bsmart on October 30, 2005
Category: Business
Words: 720 | Pages: 3
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Functions of Management
There are many different management techniques and style. However, there are only four main management functions. No matter what technique or style is preferred, they are all in place to support these main functions. These functions include: planning, organizing, leading, and controlling. Each of these functions is necessary for the successful management of any company, or project.
The first function of management is crucial to the success of an organization. According to Management: The New Competitive Landscape (Bateman-Snell, 2003, 15), the first function is planning. Planning is defined as “specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve those goals”. The activities that are associated with planning include:
• Analyzing current situations
• Anticipating the future
• Determining objectives
• Deciding in what types of activities the company will engage
• Choosing corporate, and business strategies
• Determining resource needs to meet goals
At Smart Construction, Inc., these tasks occur as part of a weekly management team meeting. The ownership and key team members are able to review, and analyze where the company is currently. Team members can look ahead to set short and long term goals. Determine what activities are currently profitable, and develop strategies to exploit those opportunities. Finally, the management team determines what resources are needed to meet the stated objectives. The old saying, “If you fail to plan, then you plan to fail”, is true.
The second function of management is as necessary as the first. Organizing is defined as “assembling and coordinating the human, financial, physical, informational, and other resources needed to achieve goals”(Bateman-Snell, 2003, 15). There are several activities associated with organizing. They include:
• Attracting qualified and capable...
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