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The Four Functions of Management

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There are four functions of management that allow any organization to handle the tactical, planned and set decisions. The four basic functions of management are planning, organizing, leading, and controlling. The four basic functions of management are just to have a controlled plan over the preventive measure. The functions of management define the process of management as diverse from accounting, finance, marketing, and other business functions. These functions provide a useful way of classifying information about management.

The base function is to Plan, which is the foundation of management. It is the base upon which the all the areas of management should be built. Planning is the ongoing process of developing the business' mission and …show more content…

And this can be done only with successful communication. Understanding the communication process and working on the area that needs improvement, helps managers to become more valuable communicators. The best technique of finding the areas that need improvement is to ask themselves and others at regular times, how well they are doing. This leads to better relationship and helps the managers for better directing plans.

Controlling is the last of four functions of management, involves ensuring that performance does not stray from standards. Controlling consists of three steps, which include establishing performance standards, comparing actual performance against standards, and taking corrective action when necessary. Performance standards are often stated in monetary terms such as revenue, costs, or profits, but may also be stated in other terms, such as units produced, number of defective products, or levels of customer service.

The measurement of performance can be done in several ways, depending on the performance standards, including financial statements, sales reports, production results, customer satisfaction, and formal performance appraisals. Managers at all levels engage in the managerial function of controlling to some degree.

Effective controlling requires the existence of plans, since planning provides the necessary performance standards or goals. Controlling also requires a clear understanding of where

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