What are the four managerial functions and how do they interrelate with each other?
The four managerial functions are:-
- PLANNING – (Decision making, looking ahead). It is the determining of organisation’s goals and deciding how best to achieve them. Managers think through their goals and actions in advance, that their actions are based on some method, plan or logic, rather than on a It is the basis by which:-
- The organisation obtains and commits the resources required to attain its objectives
- Members of the organisation carry on activities consistent with the chosen objectives and procedures
- Progress towards the objective is monitored and measured so that corrective action can be taken where such progress is unsatisfactory
- ORGANISING - (harnessing, combining, co-ordinating resources). While planning provides the framework in terms of organisational goals, organising refers to the process of arranging and allocating work, authority and resources among an organisation’s members so that they can achieve the organisation’s goals effectively and efficiently
It entails setting or designing the organisational structure that suits the organisation in terms of its resources and gaols. Students will note organising should necessarily follow after planning.
Management cannot organise without any idea as to the purpose of such an exercise, thus tasks and positions are allocated after an organisation has established its direction (planning)
The organisational structure defines the reporting levels within an organisation and provides a hierarchy of formal positions
- LEADING: - (Directing, supervising, overseeing, guiding, motivating). This entails directing, influencing and motivating the task related activities and efforts of organisational members to achieve set goals of an organisation.
The leadership function is distinct from planning in that it involves dealing with people. It should be borne in mind that leading function necessarily follows after organising. Managers are given authority and responsibility as well as confirmation of their levels in the company through that organisation function. It should therefore follow that you cannot effectively lead without knowing:
Who to lead? Where you belong in terms of the various departments of the organisation. How much authority is bestowed upon you, and finally. Who you report to in the organisational hierarchy.
- CONTROLLING :- (Monitoring, Evaluating, Checking, Making sure). This process is the ultimate management function and it evaluates the efficiency and effectiveness of the other management The control function is concerned with ensuring that the action s of the organisation’s members does move the organisation towards its stated goals.
It is sometimes referred to as the process of monitoring progress towards achievement of goals. The controlling function entails:-
- Establishing standards of performance and how it will be measured
- Measuring current performance
- Comparing actual with standard performance, and
- Taking corrective action where deviations from stated goals are detected
Through the control function, the manager keeps the organisation on its chosen track through timorously investigating and correcting and deviations from set standards.
