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    The Four Functions of Management Theory

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    Discuss some specific examples of firms that practiced these four functions. For a company with which you are familiar, use each of the four functions to do the following:

    Assess how the overall management team performed in terms of the four functions of management, which are as follows:
    Identify and explain the strong points of the managers.
    Identify and explain areas in which improvement is needed.
    Search for specific, real-life examples.

    Specifically regarding the controlling function of management, answer the following questions:

    How did most employees feel about the monitoring of activities that managers put in place to monitor employee performance and overall company performance?
    How well was the need for controls and monitoring explained to everyone before the controls were put in place?
    Did the controls have a meaningful impact on the overall department or company performance? Cite some specific examples.

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    Solution Preview

    The four functions of management are used by organizations world-wide to handle the tactical, planned, and set decisions. The four functions are:
    Planning: This is the base where all areas of management should be built. It requires an assessment of the existing state of the organization and of the desired state. Thereafter an appropriate course of action is determined and implemented for the organization to attain its goals and objectives.
    Organizing: For putting the plan to action, the management must put together all its resources. Through this process, the organization would determine its direction, establish and maintain relationships, and assign resources.
    Directing: In this phase, management controls and supervises actions of the staff. This helps them to assist the staff in achieving company's goals and objectives and also their personal goals. The management uses aids like motivation, communication, etc.
    Controlling: It includes establishing standards on which company's objectives are based. It also involves evaluating and reporting of actual job performance.
    Four functions of Management at Wal-Mart
    Planning: Wal-Mart has many different levels of planning ...

    Solution Summary

    The solution discusses the four functions of Management Theory.