The Four Components of Management

Management is the systematic act of engagement with the resources of an organization and its people to achieve desired objectives and goals. In organizations for-profit activity, management is the prime role of senior managers of a firm, including the CEO, CFO, CIO, and other senior executives. In non-profit activities, the key role of management in supporting the activities of nonprofits is performed by the boards of directors and staff of such organizations. In addition, in a government sector, management is the prime role of top administrators in agencies such as the Department of Education. In addition, there are many other key examples of management where different levels of management are involved in implementing policies and strategies.

Planning is an essential part of management that involves both strategizing and controlling. It is a managerial function that involves the preparation of a detailed description of the present objectives and future prospects of an organization. In order to prepare such a description, planning requires that the planning and other managerial functions are closely coordinated. This coordination enables planners to provide an overall assessment of the status and trends of a particular organization. It is a key ingredient in achieving desired objectives.

Controlling is an essential part of the management process. In the context of nonprofits, this involves monitoring performance standards of specific programs and projects, assessing the contributions of employees to such objectives, and ensuring consistent application of performance standards. It is also involved in ensuring that employees meet desired objectives. In most cases, performance standards need to be updated on a regular basis to ensure that they accurately measure current and long-term performance. The primary objective of control is to ensure that goals are achieved through the proper use of resources and by subjecting individuals to appropriate consequences when they fail to meet performance standards.

Strategic planning involves the creation of plans for the organization. These plans should be realistic and attainable. They should cover all aspects of the organization including finance, production, sales, marketing, customer service, and human resources. The planning process typically involves formulation of short-term goals, building a plan for achieving those goals, monitoring progress of implementation, allocation of resources, and allocation of budget. Strategic planning is usually required for large scale organizations. For smaller organizations, strategic planning is usually a component of a longer, more comprehensive plan.

Staffing is another major component of organizational operations. This involves the selection of people for various positions within an organization, the training and compensation of individuals, and their supervision and performance at all levels. Managing people is a very important part of the process of staffing. Properly managing human resources involves the identification of suitable staff members and their training and development, and their supervision and performance. Managers are also involved in training employees to efficiently perform their jobs.

Organizational structure is a major factor in determining organizational effectiveness and success or failure. The proper management of organizations is determined by the success of its management team. Organizational structure involves the decisions made by managers, their assessment of organizational needs and their allocation of resources to achieve those needs. These decisions involve the setting up of organizational structure, hiring of staff, training and developing them, and their supervision and evaluation. All these activities are crucial for the efficient management of an organization.

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