Functions of Management Paper
Running Head: FUNCTIONS OF MANAGEMENT
Functions of Management Paper
University of Phoenix
Management: Theory, Practice, Application MGT/330
October 20, 2007
Introduction
The following paper is a definition of Management and its functions as well as an explanation on how these functions relate to my organization.
Management
Management comprises directing and controlling a group of one or more people or entities for the purpose of coordinating and harmonizing that group towards accomplishing a goal. Management often encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources. Management can also refer to the person or people who perform the act(s) of management. Management operates through various functions, often classified as planning, organizing, leading/motivating and controlling. - Planning: deciding what needs to happen in the future (today, next week, next month, next year, over the next five years, etc.) and generating plans for action. - Organizing: making optimum use of the resources required to enable the successful carrying out of plans. - Leading/Motivating: exhibiting skills in these areas for getting others to play an effective part in achieving plans. - Controlling: monitoring -- checking progress against plans, which may need modification based on feedback. In for-profit work, management has as its primary function the satisfaction of a range of stakeholders. This typically involves making a profit (for the shareholders), creating valued products at a reasonable cost (for customers), and providing rewarding employment opportunities (for employees). In nonprofit management, add the importance of keeping the faith of donors. In most
Functions of Management Paper
University of Phoenix
Management: Theory, Practice, Application MGT/330
October 20, 2007
Introduction
The following paper is a definition of Management and its functions as well as an explanation on how these functions relate to my organization.
Management
Management comprises directing and controlling a group of one or more people or entities for the purpose of coordinating and harmonizing that group towards accomplishing a goal. Management often encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources. Management can also refer to the person or people who perform the act(s) of management. Management operates through various functions, often classified as planning, organizing, leading/motivating and controlling. - Planning: deciding what needs to happen in the future (today, next week, next month, next year, over the next five years, etc.) and generating plans for action. - Organizing: making optimum use of the resources required to enable the successful carrying out of plans. - Leading/Motivating: exhibiting skills in these areas for getting others to play an effective part in achieving plans. - Controlling: monitoring -- checking progress against plans, which may need modification based on feedback. In for-profit work, management has as its primary function the satisfaction of a range of stakeholders. This typically involves making a profit (for the shareholders), creating valued products at a reasonable cost (for customers), and providing rewarding employment opportunities (for employees). In nonprofit management, add the importance of keeping the faith of donors. In most