Overview
This lecture introduces the four core functions of management—planning, organizing, leading, and controlling—and emphasizes their universal relevance to achieving organizational objectives.
The Four Functions of Management
- The four functions of management are planning, organizing, leading, and controlling.
- These functions apply across all industries and organizational types.
- All functions are anchored to achieving organizational objectives.
Planning
- Planning is the first function and involves setting the organization's direction.
- It includes defining objectives that guide all subsequent actions.
- Planning aligns objectives with the organization's vision and mission.
- Strategy is built during planning to achieve set objectives.
Organizing
- Organizing focuses on delegating tasks and allocating resources to achieve objectives.
- Involves decision-making and assigning responsibilities to appropriate people.
- Organizing ensures structures are in place for goal achievement.
Leading
- Leading involves influencing and motivating employees to achieve organizational objectives.
- Encompasses communication, managing teams, and inspiring desired behaviors.
- Not all managers function as leaders; leadership skill varies among individuals.
Controlling
- Controlling is about monitoring performance and implementing mechanisms to ensure objectives are met.
- Includes evaluation, feedback, and performance appraisals.
- In this course, controlling overlaps with Human Resources and will get less attention.
Key Terms & Definitions
- Planning — Setting objectives and determining actions to achieve them.
- Organizing — Arranging resources and tasks to implement plans.
- Leading — Influencing and motivating people to accomplish organizational goals.
- Controlling — Monitoring progress and making adjustments to ensure objectives are achieved.
- Objectives — Specific results an organization aims to achieve.
Action Items / Next Steps
- Reflect on personal strengths and areas for improvement within the four management functions.
- Consider where you see yourself fitting among these management roles.