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Functions of Management - In order for a business to be...

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Functions of Management 1 Functions of Management Management: Theory, Practice, and Application MGT/330
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Functions of Management 2 Introduction In order for a business to be successful in the world today, they should possess all four of the functions of management. These four functions are planning, organizing, leading, and controlling. It is important that all of these aspects of management be understood to enable a business to be successful at meeting their goals. Examples of performing these four functions are planning by delivering a set of values that are strategic, organizing by building an organization that is dynamic, leading by being able to mobilize people, and controlling by making changes and learning. All of these can successfully be carried out through communication and decision-making. Planning Planning is setting goals to be put into place to be reached. The correct courses of action that will be taken to meet these goals and to determine how the goals will be accomplished are decided in advance. Bateman and Snell (2009) stated “Planning activities include analyzing current situations, anticipating the future, determining objectives, deciding in what types of activities the company will engage, choosing corporate and business strategies, and determining the resources needed to achieve the organization’s goals.” Planning is a continuous process that a business must perform to be knowledgeable about their customers, suppliers, and others. This
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