4 functions of management paper, business and finance homework help

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Business Finance

Description

Research, identify and discuss the 4 basic functions of management. Also, explain which function you feel is most important and why.

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  • Write between 500 – 750 words (approximately 2 – 3 pages) using Microsoft Word.
  • Attempt APA style, see example below.
  • Use font size 12 and 1” margins.
  • Include cover page and reference page.
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  • No more than 40% of your content/information may come from references.
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Explanation & Answer

Attached.

Running head: FOUR FUNCTIONS OF MANAGEMENT

Four Functions of Management
Name
Course
Date

1

Running head: FOUR FUNCTIONS OF MANAGEMENT

2

Four Functions of Management
In essence, the functions of management involve more than just having others do what
they are supposed to do. The management have a lot of responsibilities in ensuring smooth
running of the organization and that all faculties are appropriately functional at any given point
in time. This paper describes the four basic functions of management, which include planning
organizing, leading and controlling. For organizational success, effective management must
understand how these functions can be coordinated.
Planning
Planning may be described as the process of setting appropriate goals for the
organization, by taking into consideration the internal as well as external environmental factors,
deciding which organizational goals are the most significant and need to be achieved now,
deciding what organizational strategies will be used to achieve the respective goals, and
effectively allocating the right resources needed for the pursuit of these goals. Therefore,
planning requires managers to be aware of the environmental conditions facing the organization,
the capacity and capability of the organization, and to forecast the future conditions and trends.
In essence, planning creates the right objectives for the organizational accomplishments and
creates the future courses of actions (Hill, Jones & Schilling, 2014).
Organizing
Organizing mainly involves developing an effective organizational structure with specific
hierarchy, divisions, as well as departments, and allocating human and other resources to
accomplish the organization’s objectives and ensure appropriate implementation of its strategic
plan. It involves...


Anonymous
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