The Four Functions of Management
In order to be the best manager out there or to build a solid management team, its best to know what the four functions of management are.
Here are the Four Functions of Management:
Planning is the first of the four functions of management and is utilized by specifically defining the organization's goals and deciding in advance the actions needed to achieve results. When businesses are in the planning stage they must analyze the current market situations, anticipate for the future, determine the company objectives and develop the strategies the business will implement to carry out the plan.
One example of planning would to be determining the value of a new product before creation and selling it.
Just as important as the planning stage, the Organizing function of management is crucial. It is how the company builds a dynamic organization. Here in this stage, the management team is responsible for assembling and coordinating their resources. These could be human, financial, physical, informational or other key resources deemed necessary to achieve the planned goal or goals. This could be attracting people to the company and also allocating resources and creating conditions that foster a cohesive work environment that maximizes success
Leading is the art of mobilizing a team of people to accomplish a common goal. This is the third function of management and it is all about how to stimulate people to be high performers. First you must find out what motivates each individual on the team. Since not everyone works the same or positively responds to your management style, it is good to get to know them on a personal level.
Communication is key to leading a team. Without communication, deadlines and other important information could fall by the wayside. Communication also brings to light any situations that could be negatively impacting the performance of the plan. Lastly leading is about teamwork and uniting individuals together. Although you guide the direction you must all everyone to feel involved
Controlling is the fourth function of management and after learning about controlling you will realize that without it management cannot function. Controlling is adaption of your plan through learning and changing. This is about learning what works and doesn't work about your plan and making subtle changes or sometimes big changes to redirect your progress or performance back on track.
Controlling monitors the performance but monitoring is half the battle. Monitoring is just that, an analysis of your performance. Unless the manager implements the changes necessary to keep performance positive, the plan will fail.