Mgt 521

In: Business and Management

Submitted By ninagirl
Words 1284
Pages 6
Functions of Management Giovannina McGrath University of Phoenix Introduction

In order for a business to be successful in the world today, they should possess all four of the functions of management. These four functions are planning, organizing, leading, and controlling. It is important that all of these aspects of management be understood to enable a business to be successful at meeting their goals. Examples of performing these four functions are planning by delivering a set of values that are strategic, organizing by building an organization that is dynamic, leading by being able to mobilize people, and controlling by making changes and learning. All of these can successfully be carried out through communication and decision-making. Management is creative problem solving. This creative problem solving is accomplished through the four functions of management; planning, organizing, leading and controlling. The intended result is the use of an organization's resources in a way that accomplishes its mission and objectives. (From Higgins, Page 7) Bakeman (2004) stated “Information should be added to the 6 management functions. None of the other functions can take place effectively without information. Information is vital to decision making. It is needed in order to be able to forecast, plan, organize, coordinate, command, and control. Technical, commercial, financial, security, and managerial activities cannot happen properly without relevant information.” In other words, management, law, human resource management, leadership, accounting, finance, economics, research and statistics, operations, marketing and strategic planning.

Planning Planning is setting goals to be put into place to be reached. The correct courses of action that will be taken to meet these goals and to determine how the goals will be accomplished…...

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