Question

Discuss how well a company can be managed based on the four functions of management.

Answer 1

The four functions of management are typically planning, organising, leading and controlling. In order to run an organization effectively these four functions should be looked into seriously.

1. Planning: The first and foremost important function of management is planning. Planning would be looking ahead in to the future and predicting possible trends in a business keeping the current scenario in mind. It typically means setting up organizational goals and deciding how to go about achieving these goals. An organization can functional well only this planning is done at its best keeping in mind the risks and other conditions rising up. AN organization has to foresee, visualise and then take decision accordingly to run an effective business.

2. Organising: Second would be organising a different resources in an organization like the human resources, equipment, raw material etc. It typically means assembling and coordinating of work activities and resources. For an organization to function best should establish proper structure if roles and what exact work each of this roles should do.

3. Leading: As the word indicates leading is managing, motivating and directing people towards achievement of the organization goals. It is typically setting influential people in order to lead a team to conduct all the planned work activities. It helps to achieve the objective with efficiency and effectiveness.

4. Controlling: The monitoring and evaluating activities comes under controlling to check if the organization is moving in the right direction towards attainments of its goals. It typically means enabling the accomplishment of the plan through checking performances.