Four Functions of Management Theory
Four Functions of Management
Desiree Corbin
Program Capstone
May 26, 2013
Laura Pogue
Abstract
Managers fill import roles in the work place, they have a unique role to play with multiple and continuously evolving responsibilities. The purpose of this report, to provide the reader with the four functions of management theory.
Four Functions of Management Theory
Every business establishment will have a least one manager. Some businesses many have more than on manager. The role of the manager is going to be very similar no matter the industry or type of job. Management functions include planning, organizing, leading and controlling; they all are important in achieving the vision of the firm or company (Norman, 2013). Each component is important and one cannot function well without the others.
Planning
The first function of the management theory is planning. A manager must determine what the organizations goals are and how to achieve those goals. Much of this information will come directly from the vision and mission statement for the company (Norman, 2013). Identifying the objectives for the goal and following up on the execution of the plan are two critical components of the planning function. An example of planning; a manger for a new restaurant must develop a plan that will effectively market the company, draw the attention potential employees and drive sales (Llopis, 2012).
Organizing
The second function in the management theory is organizing. Mangers are responsible for organizing employees as well as the company’s resources. An example of organizing; developing a work schedule for the employees that work for the company (Llopis, 2012). The manager would need to have effective organizational skills to help them know how many employees are needed for particular shifts. This is especially important, insufficient manpower can have negative effects on the company. It could also result in loss revenues (Norman, 2013).
Leading
The
Desiree Corbin
Program Capstone
May 26, 2013
Laura Pogue
Abstract
Managers fill import roles in the work place, they have a unique role to play with multiple and continuously evolving responsibilities. The purpose of this report, to provide the reader with the four functions of management theory.
Four Functions of Management Theory
Every business establishment will have a least one manager. Some businesses many have more than on manager. The role of the manager is going to be very similar no matter the industry or type of job. Management functions include planning, organizing, leading and controlling; they all are important in achieving the vision of the firm or company (Norman, 2013). Each component is important and one cannot function well without the others.
Planning
The first function of the management theory is planning. A manager must determine what the organizations goals are and how to achieve those goals. Much of this information will come directly from the vision and mission statement for the company (Norman, 2013). Identifying the objectives for the goal and following up on the execution of the plan are two critical components of the planning function. An example of planning; a manger for a new restaurant must develop a plan that will effectively market the company, draw the attention potential employees and drive sales (Llopis, 2012).
Organizing
The second function in the management theory is organizing. Mangers are responsible for organizing employees as well as the company’s resources. An example of organizing; developing a work schedule for the employees that work for the company (Llopis, 2012). The manager would need to have effective organizational skills to help them know how many employees are needed for particular shifts. This is especially important, insufficient manpower can have negative effects on the company. It could also result in loss revenues (Norman, 2013).
Leading
The