Functions of Management

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Functions of Management

MGT/330 Management: Theory, Practice and Application

Managing an organization or a company can be very difficult and overwhelming. There are different goals that every organization wants to achieve. Success and financial prosperity are usually two of the main goals within different organizations. Unfortunately because of the fact that businesses are constantly changing, managers and organizations must adapt to these changes and figure out new ways to reach their organizational goals. Nowadays most of the changes that we see in the world are companies trying to do more production with fewer resources. Fortunately whether you are attempting to start a company or maintain a successful established company, there are a few guidelines that can be followed. These guidelines; planning, organizing, leading and controlling, are known as the Four Functions of Management.

The first function of management deals with planning. Planning is described as specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve those goals (Bateman, & Snell, 2009). In order for a company or organization to be successful they must have a plan. How will a company market themselves and make them attractive to a particular buyer or to a particular market? Being a silent partner in a business I now have witnessed how important the planning stage of management really is. The organization I’m involved with is a baseball academy here in Richmond, VA. We are constant thinking and planning new ways to be more attractive to our clients and to our future clients. We take into great consideration the quality and value of our work with young kids as well as college students and strive to make our academy the best in our area. One of our main strategies in the academy is to find the best instructors possible so…...

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