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Four Basic Funtions of Management in Business Management

Paper type: Essay
Pages: 3 (579 words)
Categories: Bus, Business, Business Management, Choice, Decision Making, Life, Management, Project Management
Downloads: 26
Views: 15

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 drawn and all employees are made aware of whom they are accountable too to help reach the goal of the company. Once the departmental teams are in place, the management team can help direct, communicate, motivate and assist the staff in meeting the company’s goals and objectives.

At Triumph the management team will have open discussion with departmental teams to create and build positive working environment. In this process the employees feel as though they are part of the decision making and will ultimately help the company reach the desired goals and objectives. The final stage of the four functions of management is to control or establish the performance standard of the company’s objective (Bateman & Snell, 2009). In this stage management keeps a close watch to make sure that all teams are on track to complete the goals and objectives that have been set forth and within the timeline.

If at this point, it appears that one of the team’s seems to be off track then management will step in and help guide or make any necessary changes. The managers at Triumph know that ignoring any of the four functions can result in the failure of the company. Without using the planning stage first to make sure that all objectives are met and then organizing the plan and leading or motivating the team will result in not obtaining the objective or goal of the company.

Managers at Triumph know that the final stage of creating an effective and productive team, one must control the budget, departments and cost efficiency of the work implemented to achieve the objectives. According to Barnes (2008), “if one can master the four management functions of planning, organizing, leading, and coordinating of resources, their opportunities are endless”

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Four Basic Funtions of Management in Business Management. (2018, Sep 04). Retrieved from https://studymoose.com/four-basic-funtions-of-management-in-business-management-essay

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