4 Functions of Management

Henri Fayol the father of Systematic Management said "To manage is to forecast and plan, to organize, co-ordinate and to control." It is just as important in the modern day business environments as it was in the past to use theories and principles to establish successful business practices. Many executives and managers today use fundamentals such as the four traditional functions of management to accomplish these goals.

The first function of management is Planning. Planning might be the most difficult of the functions because it requires participation from the entire organization. In order for there to be successful planning the organization must analyze and anticipate problems, and trends. An organization must also work to develop an action or contingency plan to deal with these simple as well as complex situations. Planning also includes coordinating between the various members, teams or departments of an organization to ensure things run smoothly.

Planning is a very important aspect of having a nightclub and concert venue, such as Epic Entertainment. The managers of the deferent sections and owners must not only consider appropriate staffing, they also have to take in account alcohol inventories, times of performances security personnel and their locations, crowd control, and money collections. Planning is critical in this regard as this is only a fraction of the considerations in putting together a live concert or show.

The next function of management is Organization. Organization is described as “a step or method of making logical arrangement of work of an enterprise as a part of management and administration,” (Library Organization, 2009). It can also be considered the process of organizing resources into more of a work structure for the purpose of efficiency. Proper organization allows resources such as personnel, financial, and other assets to be flexible and adaptive to the ever changing demands of the business environment and to help them...