4 Steps of Management

Management is a problem solving technique to obtain set goals and objectives. The four basic management concepts, planning, organization, leading and controlling allow management to reach these goals effectively and efficiently when applied properly.

The first technique is planning. A good manager will have a good plan in place to accomplish the goal and objective. Without a plan the project will never succeed. A goal has to be set along with the best way to obtain it. Resources have to be identified and made available. A manager needs to compare each team member properly to the individual in the where they are best suited. Timelines and milestones have to be set. During this process management needs to plan for what problems may arise, how to limit, overcome them and not be afraid to update it when needed.

I use this in my company every time I take a new project on. I will review the package and determine the best route to obtain financing for the company or individual. The goal remains the same, fund the project or residential loan within proper guidelines that is beneficial to the borrowing party. I will look for more than one financing option due to obstacles that may arise during the time of underwriting.

Organization is a key factor. This is the point where the plan starts to come to life. This is where managers make sure everything is in place to execute the plan and make sure all team members involved understand their role and how it contributes to the success of the project. During this step a manager will delegate authority, empowering the employee to act on their behalf. The manager is accountable for the final result. This occurs when the employee has gained the trust of the manager. Communication is a large part of organization. Good communication will have a clear purpose and objective. Communication helps motivate, transfer information, educate and solve conflict.

Organization is a huge part of my company’s success. Every member knows his or her responsibility and what is expected of them. The communication process is a large part of our process; my team needs to have a clear understanding from the financing group of what is needed from our client and a clear demonstration has to be presented of how our client and repay the debt. If this transfer of information in unclear more questions arises, it delays funding and can cause the loan or project to be delayed past original closing date.

Leading is the step. This is where a manager will influence a person’s behavior by communicating, motivating, inspiring and disciplining. Communication is a constant throughout all four steps. When leading a manager wants to remind the group of what the goal is so they never lose sight. He or she needs to gives feedback and build confidence in each member. When every team member works toward achieving a goal the project has a high chance to be a success. Motivation increases production, managers need to understand what motivates each member to peak performance.