Functions Of Management

Abstract

For a company to be successful management must be efficient and effective. This is dependent on the concepts management uses. Four basic management concepts are used in most companies to help accomplish the goals and objectives within the organization. Despite the implementation of solid management concepts, mistakes are made. Management must strive to learn from mistakes made, concentrating on improving management skills.

Functions of Management

Many forms of management exist such as management of resources, management of people, management of time, management of large groups, and management of small groups. This author is employed in a large organization in which many levels of management exists beginning with Territory Managers, who manage a given geographic area, then middle management in which individuals manage other individuals. The final level of management is the ‘upper crust’ of management, the Chief Financial Officer, Vice Presidents, Senior Vice Presidents, and the President. The key to any form of management is to establish goals and objectives to manage effectively and efficiently.

How does one manage effectively and efficiently? Four main functions provide the fundamentals of management. These four functions are: planning, organizing, leading, and controlling (Bateman & Snell, 2009). The base of any management program is planning. Planning is the process in which goals and objectives are determined. This can be as simple as deciding what needs to be accomplished in the coming week to what the company hopes to accomplish in the next five years. This author’s employer uses Performance Workbooks as a form of planning. Each employee, from the bottom all the way to the top, are expected to complete a Per...

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...dual all the way through the individual’s firing. The firing resulted in a lawsuit in which the employee was awarded approximately $100 million in recompense (Knight Ridder/Tribune Business News, 1998). Learning from such mistakes is crucial in the growth of a manager’s abilities. One must be able to learn and adjust to fine tune individual management talents.

References

Bateman, T. S., & Snell, S. A. (2009). Management: Leading and collaborating in the competitive world (8th ed.). New York: McGraw-Hill/Irwin.

Erven, B. (2008). The five functions of management. Department of Agricultural Economics Ohio State University Extension. Retrieved October 17, 2008, from http://ohioline.osu.edu

Knight Ridder/Tribune Business News. (1998). Disney chairman’s autobiography reveals details of management mishaps. Retrieved October 17, 2008, from http://www.accessmylibrary.com