Functions of Management
Management concepts must be put into operation for any type of business to achieve a set of goals and objectives. Excellent supervisors and managers work with personnel and assured resources to attain organizational purposes and objectives. In accomplishing these goals, four functions of management are put into place to guarantee effectiveness. Though the structure has advanced for the four management functions, they continue to be as significant as always, and persist in providing the ground rules that are required in start-ups as well as established corporations (Bateman & Snell, 2007).
Planning, Organizing, Leading and Controlling
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Management must take certain departments and employees into consideration while organizing; whereas to distinguish the abilities and skills of each team member, and how it will impact essential tasks and expenses for the company (Pakhare, 2007). Making a position fit a person is poor organization; therefore restructuring is a never-ending battle within a bank. Creating an organizational chart which reveals the strengths and weaknesses of select employees should assist any organization with distinguishing the abilities and the best job-fit for a staff member.
The leadership role assists managers with control and supervision of his or her staff, which in-turn helps the staff to achieve objectives for the organization along with accomplishing an employeeâ€™s personal career goals. Having good leadership abilities will allow a manager to motivate and to communicate to his or her staff in such a way as to support an employee in excelling in their job performance and production for the organization (Pakhare, 2007). Positive reinforcement is a major asset to any leadership role; consistently praising employees will make him or her want to work harder and better for any organization.
Monitoring performance to make changes where needed is an essential part of being in charge (Bateman & Snell, 2007). Things do not always workout as planned, therefore managers have to be in control of the situations surrounding his or her organization to make necessary changes when needed. Like the other three functions of management, the controlling process is endless, or a constant course of action which involves creating performance standards set up on the...