Functions of management Management, or the successful operation of a business or organization, can be simply described as the implementation of processes and

procedures in order to solve problems in a productive and resourceful manner. This process can be carried out by means of what are commonly designated as the utilities or functions of management. The four common functions are: planning, organizing, leading and controlling which have the projected outcome of making use of any businesses available assets and resources in such a way that its mission statement and goals can be acceptably accomplished. The first and possibly most important step of managing an organization or business is the planning step. This function of management involves predicting the potential course the organization will be directed toward in upcoming months and years and coordinating specific routes that need to be followed in order to reach the businesses full potential. Planning is a methodical activity that establishes who will carry out a specific job, when that job or task needs to be performed and the manner in which it should be carried out. The planning phase of business management is a comprehensive program that concerns impending plans for specific actions. "Planning is concerned with the future impact of today's decisions. It is the fundamental function of management from which the other four stem. The need for planning is often apparent after the fact. However, planning is easy to postpone in the short-run. Postponement of planning especially plagues labor oriented, hands on managers" (Erven, n.d.). The second step in a business management plan is referred to as organizing. This is the step or function in which the bringing together and grouping of available resources occurs. The three most vital resources which must be combined and utilized are financial, physical and human. Every one of these resource types is extremely important in order to achieve the desired outcome of the initial business plan and must be properly implemented in order to get results. Accordingly the managerial function of organizing facilitates the accomplishment of desired results and is crucial to the success of the entire business plan. Fiscal preparation and accounting matters can additionally be categorized under the organizing function of business management. Mangers must be extremely knowledgeable of the procedures used in regards XX XXX financial planning methods of their business or organization. They must be aware of expenditures and resources in order to better facilitate and comprehend how to assign those resources to ultimately guarantee the greatest yield. The next function of management is known as "leading". Individuals in management positions must make every effort to develop into motivational role models for their employees. Workers will abide by the rules and regulations a manager sets, simply because he or she is their superior. On the other hand, a manager who has motivational qualities compels employees to respect them for the reason that they have faith in their ideas and attitudes and realize that this type of manager is making every effort to assist the business accomplish its ultimate goals. The manager who succeeds at leading his team is able to motivate and encourage workers in order for them to be successful, vital components of the business. Talented business leaders have an effect on the workers they

personally oversee as well as being an inspiration to others throughout the entire company. Successful leadership is contagious and should be applied and implemented to every aspect of the entire organization. This process will produce a decidedly synchronized effort to satisfy employees and clientele alike. "Controlling is a function in the management cycle closely related to planning. Controlling is a six-step process that involves several systematic approaches to ensure performance standards are met in the most efficient way possible. While controlling is a complicated management function, its importance must not be under-rated" (Say Economy, 2009). Controlling is concerned with making sure everything takes place in compliance with the accepted plan, directives handed out, and confirmed standards. Controlling guarantees that there is successful and well-organized use of organizational assets in order to accomplish the intended target(s). This function of managements determines the divergence of real functioning from typical functioning or performance and determines the source of this divergence which assists management and employees to take curative measures. Every business in existence must have someone who can manage daily operations appropriately and effectively. In actuality, any individual who is considered to be an effective manager performs the same tasks as others who are also successful. It makes no difference whether the business consists of 5 or 500 employees, similar responsibilities and tasks are required to be carried out by management in order to be profitable. Planning, organizing, leading and controlling all provide an essential component in attaining not only the ultimate hopes and aspirations of management, but those of the employees who they motivate and inspire. Each factor is imperative and it is not likely that any good business model will be able to operate correctly devoid of the others. In conclusion, due to the fact that businesses and organizations exist to accomplish various specific functions, someone is required to openly distinguish those functions and establish the course for achievement. Managers must be that "someone". By executing the 4 steps of the functions of management they are able to classify objectives, institute plans for attaining those objectives, and build on tactics to integrate and organize tasks and duties. As stated previously; each of the functions relates to every organization, independent of size. Organizations that are run haphazardly have little to no chance of being successful. A motivational, inspiring manager or management team, who follow the functions of management with precision, is critical to the success and lucrative performance of any organization. References Erven, B. L. (n.d.). The Planning Function. Ohio State University Extension. Retrieved January 6, 2010, from http://www.ag.ohio-state.edu/~mgtexcel/Planning.html Say Economy. (2009, March 11). Control Function of Management - All about economy on the web. Economy Online - All about economy on the web. Retrieved January 6, 2010, from http://www.sayeconomy.com/control-function-of-management