Functions of Management

Functions of Management

Management-Theory, Practice and Application MGT-330

Latrina Fletcher

September 6, 2010

Functions of Management

Effective management is essential to the overall success of any business. Managers have the overall responsibility of ensuring organizational goals are met, in a professional and ethical manner. Management requires a high level of detail and the ability to create a cooperative environment to meet a common goal. No matter what type of business you have, it cannot operate without a manager. Furthermore, regardless of what type of business it is the manager will perform the same basic functions. [pic]Planning, organizing, leading and controlling are [pic]an imperative [pic]part in the success of a manager. [pic]Each component is necessary [pic]cannot perform [pic]well without the others.

Determining organization goals and how to reach them, requires planning. Planning is the first function of management and helps determine a course of action for today as well as the future. “Specifying the goals to be achieved and determining appropriate actions is a part of planning”. (Bateman & Snell 2009) Setting objectives and a course for execution are critical in the planning process. The success of an organization requires the careful planning of its present and future needs. Take for instance the inventory planning strategy that Wal-Mart uses. By having their own warehouses, they are able to keep their stores stocked more efficiently than any other retailer. This type of planning ensures product availability for Wal-Mart’s customers and is a direct factor in the organization’s success.

An effective manager must also organize the corporation’s people and resources. Tasks such as staff scheduling, and providing proper training resources are critical to the firm’s success. Over or under staffing as well as improper training can cause the manager to be viewed in a negative way by superiors and staff as...