Four Basic Funtions of Management in Business Management

Categories: Business Management Communication Human Nature Team

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Every organization, regardless of its size, has developed and implemented its own management concepts to ensure smooth operation and the achievement of the company's vision, goals, and objectives. The basic functions of management can be categorized into four areas, enabling the organization to handle strategic, tactical, and operational decisions effectively (Sanjau, 2007).

The four functions of management – planning, organizing, leading, and controlling – are crucial in building strong teams and a successful organization. These functions are essential for all managers, as they form the backbone of effective management practices (Pakhare, 2007).

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A competent manager should be able to perform all four functions efficiently and effectively (Bateman & Snell, 2009). At Triumph, planning serves as the cornerstone on which all management decisions are based. The management teams utilize the planning function to evaluate the current status of the company and plan for the future.

Once the management team has established a plan and defined the company's mission, the next step is to determine how to achieve the desired results.

This involves setting goals and developing strategies to reach those goals. Subsequently, a timeline is created to outline the steps needed to achieve the objectives. The organizing function at Triumph involves coordinating activities across departments such as accounting, sales, and supply chain to work towards the established goals.

After organizing the departments, the management team must further departmentalize the process by creating smaller groups to focus on specific goals and objectives. This leads to the development of a clear organizational structure where employees understand their roles and responsibilities in achieving the company's goals.

With departmental teams in place, the management team can effectively direct, communicate, motivate, and support the staff in working towards the company's objectives.

At Triumph, the management team engages in open discussions with departmental teams to foster a positive working environment. By involving employees in decision-making processes, they feel more invested in the company's goals and are more likely to contribute to their achievement. The final stage of the four functions of management is control, where performance standards are established to monitor progress towards the company's objectives (Bateman & Snell, 2009). Management closely monitors the teams to ensure they are on track to meet the goals within the specified timeline.

If a team appears to be falling behind, management intervenes to provide guidance or make necessary adjustments. The managers at Triumph understand that neglecting any of the four functions can lead to the company's failure. Without proper planning, organizing, leading, and controlling, the company may struggle to achieve its objectives. Managers at Triumph recognize that effective team creation requires controlling budgets, departments, and ensuring cost efficiency in implementing work to achieve objectives. As Barnes (2008) states, "mastering the four management functions opens up endless opportunities."

In conclusion, the four functions of management are essential for the success of any organization. By effectively planning, organizing, leading, and controlling, managers can steer their teams towards achieving the company's goals and objectives. At Triumph, these functions are integral to the management process, ensuring that the company operates efficiently and effectively in pursuit of its vision.