What function of management is evaluates processes and takes correction action as necessary to keep the organization on course?

There are four basic functions of management which is applicable to all industries. They include: planning, organizing, leading and controlling. Manager in process must first plan, then organize according to plan, lead other to achieve the plan, and finally evaluate the effectiveness and efficientness of the plan and activities undertaken.

•Planning is the primary function where manger creates a detailed action plan aimed at some organizational goal. 

•Organizing is the second step which involves the manager determining how to distribute resources and coordinate them. 

•Leading is the third step that is accomplished by communication, motivating inspiring and encouraging employees towards a higher level of productivity 

•Controlling is the final function of management in which the manager, once a plan has been carried out, evaluates the results against the goals. If a goal is not being met, the manager must also take any necessary corrective action needed to continue to work towards that goal. 

•Some adds staffing as the fifth function which includes tasks like, evaluating, recruiting, selecting, training, and placing appropriate individuals into defined job roles.

Planning:

•It is the foundation pillar of management. It is the base upon which the all other areas of management are built. Planning requires administration to assess where the company presently is and where it would be in the upcoming years. From there, an appropriate course of action is determined and implemented to attain the company's goals and objectives.

•Planning plays a pivotal role in business management; it helps to visualize the future problems and keeps management ready with possible solutions.

•According to KOONTZ, “Planning is deciding in advance - what to do, when to do & how to do. It bridges the gap from where we are & where we want to be”.

•It is an exercise in problem solving & decision making determination to achieve desired goals.

•Planning is necessary to ensure proper utilization of human & non-human resources, it is all pervasive, an intellectual activity and it also helps in avoiding confusion, uncertainties, risks, wastage etc.

•This step involves mapping out exactly how to achieve a particular goal. 

•Planning involves taking decisions on vision, mission, values, objectives, strategies and policies of an organization.

•Planning is done for immediate, short term, medium term and long term periods, it is a guideline for execution/implementation.

•It is a measure to check the effectiveness and efficiency of an organization.

Organizing:

•The second of the managerial functions is organizing. This step requires determine how to distribute resources and organize employees according to the plan. 

•The second function of the management is getting prepared and getting organized. Management must organize all its resources beforehand, to put into practice, the course of action, which has been decided upon in the base function of planning.

•It is the process of bringing together physical, financial and human resources and developing productive relationship among them for achievement of organizational goals. 

•According to Henry Fayol, “To organize a business is to provide it with everything useful or its functioning i.e. raw material, tools, capital and personnel’s”. To organize a business involves determining & providing human and non-human resources to the organizational structure. 

•Organizing as a process involves: Identification of activities, Classification of grouping of activities, Assignment of duties, Delegation of authority and creation of responsibility, Coordinating authority and responsibility relationships, Designing organization structures and departmentation, Defining relationships between departments and job positions

Leading:

•Directing or leading is the third function of management. Working under this function helps the management in controlling and supervising the actions of staff. This helps them in assisting the staff, to achieve the company's goals and also accomplish their personal or career goals, which can be powered by motivation, communication, department dynamics, and department leadership.

•This step involves communicating, motivating, inspiring, and encouraging employees towards a higher level of productivity. An employee will follow the directions of a manager because they have to, but an employee will voluntarily follow the directions of a leader because they believe in who he or she is as a person, what he or she stands for, and for the manner in which they are inspired by the leader.

•Leading: Attracting people to the organization, Specifying job responsibilities, grouping jobs into work units, Marshalling and allocation of resources, creating good working conditions

•It is that part of managerial function which actuates the organizational methods to work efficiently for achievement of organizational purposes. 

•It is considered life-spark of the enterprise which sets it in motion the action of people because planning, organizing and staffing are the mere preparations for doing the work. Leading is that inert-personnel aspect of management which deals directly with influencing, guiding, supervising, motivating sub-ordinate for the achievement of organizational goals. 

•A manager needs to do more than just plan, organize, and staff her team to achieve a goal. She must also lead. Leading involves motivating, communicating, guiding, and encouraging. It requires the manager to coach, assist, and problem solve with employees.

Controlling:

•It implies measurement of accomplishment against the standards and correction of deviation if any to ensure achievement of organizational goals. The purpose of controlling is to ensure that everything occurs in conformity with the standards. An efficient system of control helps to predict deviations before they actually occur.

•Theo Haimann, “Controlling is the process of checking whether or not proper progress is being made towards the objectives and goals and acting if necessary, to correct any deviation”. 

•According to Koontz & O’Donell “Controlling is the measurement & correction of performance activities of subordinates in order to make sure that the enterprise objectives and plans desired to obtain them as being accomplished”. 

•Therefore controlling has following steps: Establishment of standard performance, Measurement of actual performance, Comparison of actual performance with the standards and finding out deviation if any, Corrective action.

•Controlling is the last of the four functions of management. It involves establishing performance standards based on the company's objectives, and evaluating and reporting actual job performance. Once management has done both of these things, it should compare the two to determine any necessary corrective or preventive action.

Effective and efficient management leads to success, which is the attainment of objectives and goals that an organization sets for it. Of course, for achieving the ultimate goal, management needs to work creatively in problem solving and execute all the four functions. Management not only has to see goals accomplished, but also sees to it that the strategy adopted is feasible for the company.

Although there is a basic logic for describing these activities in this sequence (as indicated by the solid arrows), most managers engage in more than one activity at a time and often move back and forth between the activities in unpredictable ways (as shown by the dotted arrow), the true reality of management. The similarities that pervade most settings are the phases in the management process. the differences include the emphasis, sequencing, and implication of each phase.

What management function takes corrective actions?

What management function is performed when managers uses standards to assess performance and then take corrective actions?

Which one of the management functions includes correcting performance?

What are the 4 functions of management?