The four cornerstones of management comprise the basis of business governance. These basic functions consist of planning, organizing, leadership and control. Although they can be looked at separately they are in fact inter-dependent and should be employed in an integrated fashion. The effectiveness of a given function will be diminished by a lack of attention to another. A balanced implementation of all functions will ensure success in all areas. Also, changes in one area may necessitate changes in another. Following are the four basic functions of management:
- Plan – Planning is an important component of business success. Every business is planned to some degree. In the simplest form ideas are formulated and developed in the small business owner’s head and then executed. However being more specific and organized in the planning process can yield more positive results … Read More >>
- Organize – Organizational structure is essential to growth in any business. An auto repair business – like many other small businesses – delivers services largely predicated on the preferences of their customer base and owner philosophy … Read More >>
- Lead – Leadership is a critical component to business success. Looking at how leadership occurs can improve management effectiveness and business performance. The ability to elicit quality performance from others is the crux of leadership … Read More >>
- Control – Following planning, organizing and leading the last and definitely not least function of management is control. Controls must be applied to the different areas of the business to measure performance and ensure success … Read More >>
