Four managerial function Term Paper Example | Topics and Well Written Essays - 1000 words

Four managerial function - Term Paper Example Planning can be defined as the process of selecting the course of action for the project. There can be different ways of achieving the same goal, with some incurring more costs than others. The purpose of planning is to identify such a course of action to achieve the goals that enables a manager to minimize the cost without compromising upon the quality. The need for planning originates in the fact that the market economies in which an organization has to establish itself, survive, and thrive are highly competitive and change is a norm in such market economies (Rao, 1988). Planning is a technical skill. To facilitate the managers in the present age, several planning software are available in the market. Such planning software include but are not limited to MS 2010 and Primavera. After the suitable course of action has been identified to achieve the goal, the next step is to schedule the project. Organizing is the second function of management. â€Å"Organizing is the process of linking and arranging activities in a sequence. It includes allocating work, authority and resources† (Rao, 1988). In this stage, the different steps identified in the plan are time-phased. The plan is divided into a range of activities that are assigned durations and relationships are established between them. A manager needs very good technical and intellectual skills in order to be able to execute this function successfully. Organizing, as the name implies, is also concerned with structuring and administering the organization in such a way that adequate channels for effective communication and execution of plans are formed. In the organizing function of management, the manager decides what kind of organizational structure should prevail in the organization so that the desired organizational culture, hierarchy, and channels of communication are formed. A manager needs to have a