The Four Funtions of Management

In: Business and Management

Submitted By clinn
Words 876
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The Four Functions of Management
Carlota Linn
September 29, 2010
Kisar S. Dhillon

The Four Functions of Management One of manager’s greatest achievements is to engage in the function of planning. During the process of planning, managers analyze strategies, determine goals, and decide the specific actions to take to deliver strategic value to the organization. Planning involves deciding in what type of activities the company will engage to accomplish goals. Traditional planning helps managers create a business plan and let others implement it. In today’s business environment the function of planning is much more dynamic because it involves creating strategic value to the organization. Strategic value is a process in which users like employees, customers and government sectors use their energy, talent and ability to create value to the organization. Value “describes the monetary amount associated with how well a job, task, or service meets users’ need” (Bateman & Snell pg 19 (2009). For instance, Experian the global credit reporting company has to deliver critical information to enable consumers to make financial decisions. Experian managers carry out extensive research of data and analysis of national and local economies to make strategic decisions. In terms of service, Experian team members provide the tools and information organizations need to provide their businesses with competitive advantage. Experian business strategies benefit all stakeholders and the resources contribute to the organization’s present and future goals (Experian plc). Organizing is the second management function that should bring together resources and coordinate employees to build a dynamic organization. Traditionally, organizing involves creating an organization chart and setting administrative programs in place. In today’s’ business environment the…...

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