Four Function of Management

The Four Functions of Management

All organizations need to achieve the goals and objectives to be successful. The four functions of management allow organization to develop and implement their concepts. Although businesses and specifics of doing business are changing, the four functions of management are the fundamentals and essential needed in the success of corporations (Bateman, Snell, 2009). Murray State University uses the Tinker toy exercise to teach the four function of management. The student get to appreciate how the four function work together (McNeely, 1994). It is important to the business to know the four functions of management which are planning, organizing, leading and controlling; each function play an important role in the success of the organization. For example, JP Morgan Chase used the four functions of management to achieve successfully in their goals and be a competitive company.

PLANNING

The first function of management is planning. This process is specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve the goals (Bateman, Snell, 2009). Planning determines how effective and efficient the organization is and determines the strategy of the organization. It is an ongoing process to develop the organization's mission and objectives, and determining how to accomplish them. The success of an organization lies within the planning process; it is the first step in management as the planning process facilitates control and determining resources needed to achieve the organization goals. JP Morgan Chase schedule a planning session on a monthly basis to go over their mission statement within all departments. This helps them to plan new strategies and create new ideas for the coming months.

ORGANIZING

The second function is organizing which is to establish an internal structure focusing on division, coordination and control of tasks and the flow of information within the organization. This step is...