The Four Functions of Management

Paper Summary:

This paper elaborates on each of the four functions of management and explains how each of these functions are necessary for an organization to succeed. The paper emphasizes the need to perform each of these management functions efficiently and effectively in order to create a sustainable competitive advantage for a company. Without effective and efficient performance of management duties, the paper asserts, an organization will be lead down the path of ruin.

From the Paper:

"In today's hyper-competitive, streamlined world, the role of management is crucial in any organization's success. This is a universal concept. "Management principles are general rather than specific to a type of firm or organization" (Erven, n.d.). Managing, in its most simplistic terms, is the process of attaining specified organizational goals by utilizing human and capital resources efficiently and effectively. Managers accomplish these goals by planning, organizing, leading, and controlling the efforts of the other organizational members that are subordinate to them. It is with this effective and efficient management, that organizations gain sustainable competitive advantages and are able to thrive within their industry. Without effective and efficient management, organizations often falter and fall by the wayside, to be left in the proverbial dust by their competitors."

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