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Mgt 230 Week 1 Paper

In: Business and Management

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Functions of management
MGT/230 Week 1

Functions of management

Management, or the successful operation of a business or organization, can be simply described as the implementation of processes and procedures in order to solve problems in a productive and resourceful manner. This process can be carried out by means of what are commonly designated as the utilities or functions of management. The four common functions are: planning, organizing, leading and controlling which have the projected outcome of making use of any businesses available assets and resources in such a way that its mission statement and goals can be acceptably accomplished.
The first and possibly most important step of managing an organization or business is the planning step. This function of management involves predicting the potential course the organization will be directed toward in upcoming months and years and coordinating specific routes that need to be followed in order to reach the businesses full potential. Planning is a methodical activity that establishes who will carry out a specific job, when that job or task needs to be performed and the manner in which it should be carried out. The planning phase of business management is a comprehensive program that concerns impending plans for specific actions. “Planning is concerned with the future impact of today's decisions. It is the fundamental function of management from which the other four stem. The need for planning is often apparent after the fact. However, planning is easy to postpone in the short-run. Postponement of planning especially plagues labor oriented, hands on managers” (Erven, n.d.).
The second step in a business management plan is referred to as organizing. This is the step or function in which the bringing together and grouping of available resources occurs. The three most vital resources which must be combined and…...

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