Functions of Management

Essay by CerberusUniversity, Bachelor'sA+, January 2006

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What precisely is the function of a manager? In today's rapidly changing competitive world, what purpose does management serve? The function of management used to be based on the merits of what an individual could perform. What specifically could he or she do for a company? Today the human element of management is becoming more and more significant. It is not what a manager can do for a company but how his or her knowledge can benefit a company. There are actually four fundamental function of a manager in the long road to management success: planning, organization, leading, and last but not least is controlling. These four key functions are essential to produce dynamic business decisions within a company. To carry out these practices in effective manner, it's important to first understand the basics in which these practices are to be carried out.

Planning is an essential management function and is a crucial role of managers since it allows evaluation of the path ahead and makes it possible to sidestep any potential problems In every organization, managers plan a wide variety of actions from day to day decisions to long term ones.

As part of their jobs, managers are required to define the specific goals of an organization and develop plans for attaining them. Planning is used to develop guidelines and procedures, establish the goals, possible courses of action, and forecasting future outcomes. Planning provides direction and purpose and provides a strategic value, which enables a manager to help map the future, rather than being led by the changes in the market. While planning tells us what should be done, organizing tells us how it is to be done and who should do it.

The function of organizing is concerned with assigning individuals with tasks or responsibilities, which combine together...