Functions of Management

There are four particular functions of management that every company or organization, regardless of size, use in order to keep order and smooth operations. Those functions are, planning, organizing, leading, and controlling. It is imperative that each is done a certain way in order to accomplish the goals that have been set out to achieve. In this paper I will explain each function of management as well as how each function plays out in my organization.

Planning, is the base area of all the four functions of management. This is the foundation upon where the other three functions should be built. (Rane, 2007). Planning takes place when management looks at past, present, and future, and determines what courses of action need to be taken in order to maintain and reach a set of goals put in place. By looking at the past, management can take past events that maybe weren’t successful and make changes accordingly. Past events that may have went well can be used for present and future. Planning for present and future events are essential as well as planning for unforeseen happenings. Management must have plans in place for what to do in situations that were not necessarily prepared for in advance. Currently, I work at the corporate office for OTD CycleSports. We have 8 different motorcycle dealerships and I handle the full accounts payable side for 3 of those 8 dealerships. I am working my way up to be the senior accounts payable associate so I work very closely with my accounts payable manager at the present time. Planning, in accounts payable is an absolute necessity as things in accounting change often. Whether it is ensuring that a vendor receives payment on time, or if we reconcile statements correctly, there is a lot of planning involved so that tasks are not repetitive and so that we can stay on top of things as need be. This is where our next function, organization, can help.

Functions of Management 3

Organization is a very important part of management. Management must be able to organize all of their resources in order to take appropriate action on what has already been planned. (Sneed, 2006). Being able to organize different departments and different tasks can make all the difference. For example, in my place of business, having food organizational skills is a must. Working in a corporate environment, organization is a must. There are several wheels that need to be turned at the same time. By organizing the different departments within your organization you can achieve things by being able to delegate