The four factors of management are planning, organizing, leading, and controlling. Each function helps managers accomplish business procedures with more simplicity and consideration. These important factors will ensure a company??™s success.
The first factor is planning. Planning consists of setting directorial goals to align with the vision and mission of the company. Setting purposes for the goals and carrying out the plan are significant components of planning that are at all levels in different ways. Top-level management does this in an organization. A manager will build up tactics to achieve the organization??™s goal. The planners will determine the standards for employees to accomplish their tasks. The planners must apply strategies from good resources to help make a successful organization.
The second factor is organizing. Organizing establishes the organization??™s internal structure and how a company assigns tasks, allocates resources, and accomplishes goals. Managers of the company construct a plan that connects the workers, resources, and assignments together. The focal point is on coordination, control of tasks, division, and how managers communicate information with their staff. Each manager has the responsibility of organizing the people and resources of the company. A simple example is the knowledge of how many employees they will need for a shift. Not knowing this could make or break the success of a company. Organization has not occurred if the employees do not have the essential resources to complete their jobs. If a manager does not organize his workplace, he could lose respect from employees for his supervisory techniques.
The third factor is leading. The purpose is to guide employee??™s behavior to accomplish a company??™s mission and objectives while assisting them with their career objectives. Leading influences behavior through communication, discipline, and motivation. Leading is supervising employees to accomplish the goals of the company. It consists of assigning tasks, making sure employees complete the tasks, understanding organizational policies, and enlightening employees of how well they do. The manager must complete each task on time and makes sure the employee follows the company??™s policies. An effective leader motivates the employees and will guide him to meet the company??™s goal. The leader must determine what will motivate the employees and encourage him to reach the company??™s goal. To obtain employees to effectively perform, the leader should have excellent leadership skills.
The final factor is controlling. Controlling establishes performance standard based on the company??™s objectives, reporting and measuring performance, and taking necessary preventive or corrective action. This function monitors the company??™s performance to make sure they accomplish their goals. To achieve this task, the managers must focus on cost versus performance of the company.
Managers set and communicate the standards of performance that must be met by their employees. The manager will also monitor the performance to make sure the standards are met. If the objectives and goals are not at the required level, controlling helps correct the situation.
A skilled manager will relate the information with his employee to build trust with the employees. Using the four factors will help manager analyze the problem to take corrective action with the employee. Implementing these important factors will help direct any business to success.