Management is defined as the guiding principle for establishing and accomplishing objectives through the execution of four basic management functions. The four functions are planning, organizing, leading, and controlling. In this paper we will be examining all four of these functions independently, but in actuality, they are interdependent and inseparable. The delivery of all four functions of management is vital to building robust teams and stronger organizations. A manager's role is to guide his/her organization towards a clearly stated objective through the practice of these four functions. In order to succeed, a manager must plan, organize, lead, and control in a concise and organized manner. He/she must set goals and decide courses of actions (planning), and identify jobs to be done and assign resources (organizing). In addition, employees must be guided to complete the plan (leading), and the plan's progress must be monitored (controlling).
Planning is an ongoing process of developing the organization's objectives and determining how they will be accomplished.
It is setting goals and deciding on courses of action. It includes developing rules and procedures and designing strategic plans. Planning includes both the high level view of the organization (its mission and the future impact on the business), and the tactical aspects for accomplishing a specific goal. It's a crucial management function because it lays the groundwork for all other functions. It is a method focused on projecting the future, foreseeing problems, and developing procedures to circumvent them.
I work in supply chain planning, where we are responsible for forecasting each of our customer's product demand, and managing their inventories with strict performance measures. Recently, my department decided to eliminate their home-grown tool for forecasting product demand and replenishing customers' inventory. This decision was made in light of constant and costly maintenance and enhancement functionalities needed to accommodate...