Functions of Management Mgt 330

In: Business and Management

Submitted By yahairahp
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MGT/330 Weekly Overview
Week One: Overview of the Functions of Management THE FOUR FUNCTIONS OF MANAGEMENT

Planning is designating the goals to be accomplished and determine the correct actions to achieve those goals. The planning activity includes analyzing current situations, anticipating what about to happen, deciding the most effective activities the company will use, choosing corporate and business strategies, and determining the supplies needed to accomplish the company’s goals. Planning set the stage for action, and for higher achievements.

Historically, planning described a top-down approach in which top executives establish business plans and tell others to implement them. (Chapter 1: Managing)

Organizing is constructing an active organization, setting up and coordinating the human, physical, financial, informational, and other advantages needed to reach goals. Organizing exhibitions involve drawing attention to people to an organization, specifying job restraints, minimizing work into units, placing and assigning resources, and setting conditions so that everyone and everything work in sync to achieve maximum success.

In determining the internal structure, management must look at the different divisions or departments, the coordination of staff, and what is the best way to handle the necessary tasks and disbursement of information within the company. Management will then divide up the work that needs to be done, determine appropriate departments, and delegate authority and responsibilities. Building a dynamic organization, historically, organizing involved creating an organization chart by identifying business functions, establishing reporting relationships, and having a personnel department that administered plans, programs, and paperwork. (Chapter 1: Managing)
Leading is driving people to be high performers. It includes…...

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