Importance of Management Functions and Principles

Management is the coordination and oversight of the work activities of others so that their activities are completed efficiently and effectively. In order to carry out those responsibilities, management requires the application of several important functions, skills and roles to carry out the necessary activities in the organization effectively and efficiently. Effectively meaning doing things right so that the organizational goals can be attained and efficiently meaning getting the most output from the least amount of inputs. Furthermore, management is entrusted with the responsibility of shaping the business objectives that is in line with the vision of the business, proactive planning for future growth, anticipating and planning for changes in the business environment, administering and controlling business activities and taking account of the business operation and results. However, these responsibilities can all be summarized into the four basic functions of management which includes planning, organizing, leading and controlling. Planning establishes objectives and devises programs to achieve them. It also involves choosing tasks that must be performed to attain organizational goals, outlining how the tasks must be performed, and indicating when they should be performed. Planning activity focuses on attaining goals. Managers outline exactly what organizations should do to be successful. Planning is concerned with the success of the organization in the short term as well as in the long term. Organizing deals with the development of an organizational structure to implement strategies. Organizing as a function involves identification of activities, classification of grouping activities, assignment of duties, delegation of authority and creation of responsibility. Within the organizing function, tasks are organized so that the output of each individual contributes to the success of departments, which, in turn, contributes to the success of divisions, which