Four functions of management: Planning, Organizing, Directin

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//Before writing about the four functions of Management, we will write about the Organization and its Stakeholders. The importance of Internal, as well as External, Stakeholders in managing the performance of an Organization will be discussed. It will become helpful in understanding the main components, characteristics of the Organizations and their impact on the Managerial decision making.//

Organizations are made of people, who are also termed as the internal stakeholders and they function through people. Without people, organizations cannot exist. The resources of men, money, material and machinery are collected, coordinated and utilized through people. These resources are united into a team as they alone cannot achieve the objectives of the organization. It is through the combined efforts of the people that the resources are utilized effectively for the attainment of the common organizational objectives. It is also essential that all the human resources of the organization work cooperatively, because without united or combined human efforts, no organization can achieve their goals (Gupta, 2007).

These internal stakeholders I.e. Employees of the organization influence the working and decisions of the managers regarding the functions of the management, which ultimately affect the overall performance of the organization as all the activities of the organization are initiated and completed by the persons who jointly make up the organization. ...