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Five Functions of Management Paper

Chris McCoy

INTRO: When you see the five functions of management in the text and begin to understand the role each function plays in the management of a successful enterprise you realize that Henri Fayol was a genius and would be even in today’s society. Henri Fayol, the father of the school of Systematic Management, was motivated to create a theoretical foundation for a managerial educational program based on his experience as a successful managing director of a mining company. In his day, managers had no formal training and he observed that the increasing complexity of organizations would require more professional management. Fayol's legacy is his generic Principles of Management. Of Fayol's six generic activities for industrial undertakings, the most important were The Five Functions of Management that focused on the key relationships between personnel and its management. (Southwestern Cengage Learning)

PLANNING

OVERVIEW: All areas of management should be built on the foundation of planning. A business knowing where they currently are, and where they are going in the future should be a basic requirement for any administrative team while assessing a course of action to determine and implement a company’s goals and intentions. Planning is never ending; a company should continuously examine existing conditions, expect potential for what’s coming, establish goals, plan and strategize for activities and figure out what type of resources are needed to meet their goals. Planning is absolutely essential in any industry due to the never ending changes around the globe. A bank or a warehouse must be prepared for the down times during the up times, and vice versa. Budgets and allocations are a major part of planning and should be for all organizations in any industry. (Oxford University Press)

THOUGHTS & EXPERIENCES: There are basically three separate categories that planning can be classified as, namely strategic planning,...