August 30, 2010
Functions of Management
Managers in organizations are responsible for working with subordinates and resources of the organization to accomplish goals within. The functions of management consist of four different processes at different levels within the organization. Each level of management delegates duties to the lower level to ensure subordinates are accomplishing goals effectively and efficiently.
The four functions of management include planning, organizing, leading, and controlling. Most organizations consider the functions of management as the fundamental management principles. The functions of the principles evolve as the business world rapidly changes making each function more adaptable. The functions of management define the process of management as distinct from accounting, finance, marketing, and other business functions and provide a useful way of classifying information about management (Encyclopedia for Business, 2010). Planning
Planning as a managerial function requires specifying and setting goals to achieve and determining the steps in which to take to complete these goals. During the planning process, managers must make themselves aware of any economic conditions that may affect the future of the organization. The planning process consists of various types of planning such as strategic, tactical, and operational. Strategic planning involves critically examining the potential threats of competitors, analyzing the strengths and weaknesses of the organization as well as developing a plan to remain competitive. Tactical planning involves implementing the strategic plan of higher level management. Operational planning involves actions to promote the strategic and tactical planning and defines in detail ways to achieve the goals of the strategic and tactical plans.
Organizing as a managerial function requires generating a plan of action to layout...