Identify and define the four key functions of management.
While we group the key functions of management into four groups, each of these aspects are incredibly complex. Planning is involved with so many aspects of business, it is vital to good business practices. Leading others, both through direction and example is incredibly important to management leaders. This is after all, one of the most individually controllable aspects of management and thus ends up becoming one of the areas people focus on. Organizing of events, company direction, message, and so much more are another of the key elements of management duties and responsibilities. Finally, management is expected to remain controlling over processes and quality. This does not have to be overbearing, but it is a burden that management must bear.
The four key functions of management seem to be that of being able to have the right type of planning, also ensuring that there is some level of organization in place, then also ensuring that there is good leading and controlling in place as well. All of these are some of the elements that a firm and the respective management should come to play because the notion is that if there isn’t the right organization of how different things should be worked out, then it could also end up impacting the planning part of the project. So all elements of a given project should be planned in the right manner and in the right time frame and then there also should be the right amount of leading the project. What this comes to mean is that there should be some sort of a group leader in place who knows how to manage and balance the different aspects of the project and then also to execute and lead the project. Finally all of this has to be done with the right amount of the control of resources in place as that also ensures that none of the important or the vital resources are not being wasted in any plausible manner.