Four Basic Funtions of Management in Business Management
Running head: FOUR FUNCTIONS OF MANAGEMENT 2in business
Four Functions of Management 216 in business
MGT/330
August 24, 2010
Instructors name Four Functions of Management Every organization, regardless of size, has developed and implemented its own management concepts in order for it to run smoothly and accomplish the vision, goal, and objective, the company has set forth. The basic functions of management can be broken down into four different areas, allowing the organization to handle the strategic, tactical, and operational decisions (Sanjau, 2007). The four functions of management are essential to building strong teams and stronger organization. Common to all managers, the four functions are planning, organizing, leading, and controlling (Pakhare, 2007). A good manager is able to accomplish all four functions both effectively and efficiently (Bateman & Snell, 2009). At Triumph, planning is the foundation in which all management decisions regarding the company will be based upon. The management teams will utilize the planning function to assess the status of the company today, as well as in the upcoming future. Once the management team has an agreed upon plan, and the company’s mission has been established, the team must determine how the desired results will be achieved. The next objective is to establish a goal and the strategies to achieve the goals set forth. After setting the goal the next step the management team will accomplish is to create a time line to complete the objective. The organizing function for the team at Triumph is to formulate the activities, which will include the accounting department, sales department and supply chain involved in helping reach the goal that has been set forth. Once all the different departments are set, it is up to the management team to departmentalize the process and create smaller groups to achieve the goals and objectives. Once the departments create their own teams a clear organizational structure is
Four Functions of Management 216 in business
MGT/330
August 24, 2010
Instructors name Four Functions of Management Every organization, regardless of size, has developed and implemented its own management concepts in order for it to run smoothly and accomplish the vision, goal, and objective, the company has set forth. The basic functions of management can be broken down into four different areas, allowing the organization to handle the strategic, tactical, and operational decisions (Sanjau, 2007). The four functions of management are essential to building strong teams and stronger organization. Common to all managers, the four functions are planning, organizing, leading, and controlling (Pakhare, 2007). A good manager is able to accomplish all four functions both effectively and efficiently (Bateman & Snell, 2009). At Triumph, planning is the foundation in which all management decisions regarding the company will be based upon. The management teams will utilize the planning function to assess the status of the company today, as well as in the upcoming future. Once the management team has an agreed upon plan, and the company’s mission has been established, the team must determine how the desired results will be achieved. The next objective is to establish a goal and the strategies to achieve the goals set forth. After setting the goal the next step the management team will accomplish is to create a time line to complete the objective. The organizing function for the team at Triumph is to formulate the activities, which will include the accounting department, sales department and supply chain involved in helping reach the goal that has been set forth. Once all the different departments are set, it is up to the management team to departmentalize the process and create smaller groups to achieve the goals and objectives. Once the departments create their own teams a clear organizational structure is
References: Barnes, A. (2008). Functions of business management. Retrieved January 3, 2010 from http://ezinearticles.com/?Functions-of-business-management&id=1203510 Bateman,T. S. & Snell S.A., (2009). Management: leading & collaborating in a competitive world. McGraw-Hill Companies. Pakhare, J. (2007). Management concepts – the four functions of management. Retrieved on December 21, 2009 from http://www.buzzle.com/articles/management-concepts-the-four-functions-of-management.html Rane, S. (2007). The four functions of management: foundation for all management concepts. Retrieved on December 21, 2009 from http://www.associatedcontent.com /article/the four functions of management