In the 21 st century where the fast-paced business environment is always changing and evolving it is
important that managers understand and utilize the four to obtain a successful
work environment. Common to all managers are the activities of planning, organizing, leading, and
controlling. These functions of management must perform regardless of the industry, the level, or activity
in the world.
Planning: Planning is setting goals; those that establish procedures and rules. They may be projects,
programs, or strategies. The major purpose of planning is to focus the attention of all involved on a
common purpose so that everyone’s effort is coordinated.
A plan will aid in accomplishing tasks
efficiently, and eliminate waste time, effort and most importantly money. Currently at the credit union
where I am employed I am not in a management position, not having to utilize the functions of
management yet. When I do become in a management position I will use these functions as well as my
manager has. Recently at the credit union we were gearing up a huge promotion on car loan rates and
needed a plan drawn up to meet our goal and have successful loan growth. My manager who is the manager
of the lending department sat us down as a group and proposed a plan which consisted of our goals, and
rules and procedures for the promotion.
The plan consisted of adding new loan growth to the credit union
by offering a low variable rate on vehicle loans as low as 2. 99% for 60 months. The goal was to bring in 1
billion dollars in new loan growth. The rules and procedures were for qualified buyers with good credit,
and when approved the member would receive a $25. 00 gas card. The planning was successful and the
credit union grossed over a billion dollars in new money over two months.
Planning in management can
ultimately can result in success if it is done precise and with a knowledgeable manager.
Coordination: Coordination is the essence of good management. One of the distinguishing characteristics of
a good manager is the skill in the coordination function. Personal communication is the most efficient
method of exchanging ideas and agreements.
The manager can seek coordination by group meetings, by
individual attention or written communication. Employees within the same department influence each
other. At the credit union each department within the credit union are close and to have influence on each
other. In the Lending Department we have weekly meetings as a group to coordinate upcoming promotions
or just to discuss any issues or concerns pertaining to our department. Our manager possess efficient
coordination in our department. We all are apart of coordinating ideas within the department, which tends
to lead us in a successful outcome because everyone feels they have had some part in the meeting.
Coordinating supports all teams structures concurrently whether it is formal or informal. Coordination
cannot be achieved by command; individuals must be able to understand the part he / she is expected to play
in the overall plans. A smooth blending together of all persons within the departments can conclude in
efficiency and successful results.
Leading: Leading provides clear consistent direction that all team members can refer to whenever they
need it. Leading helps team members do their job and brings together important information so teams can
make sound decisions. Leading is influencing people’s behavior through motivation, communication, and group
dynamics and discipline.
The leading function gives the manager an active role in employee performance,
conduct and accomplishments. Managers accomplish their objectives through people.
Controlling: Controlling is being able to sets rules and procedures for the group. Whether they are for
promotions that the group is trying to start or for personal nature for the employees.
Employees often view
controlling negatively. By nature, controlling often lead management expecting employee behavior to
change. Controlling can go both ways when managing, good or bad, it just depends upon the group that the
manager is working with.
At the Chaco Credit Union, every level of management utilizes the four functions of management.
Once a month we have a staff meeting that is lead by our CEO.
This meeting lets us know about where the
credit union stands and how employees in each department are performing. This is an informative meeting
for the employees and other management also. The meetings usually take place in the beginning of the
month so monthly goals can be set. These goals are set by the CEO and the other management uses the
functions of management within their departments to break down these goals to individual tasks to the goal
is more easily reachable.
Through these functions of management goals can be achieved and result in great
success for any company.