The five functions of a managerial position include planning, organizing, staffing, coordinating and controlling. These functions are what distinguish the roles of management from other areas, such as marketing, finance, and accounting.
Planning is the function that allows management to develop plans needed for the organization to operate smoothly. Goals are defined in this function, along with the most effective way to reach those goals. Planning involves communication with all aspects of the company.
Organizing allows management to delegate tasks and responsibilities to employees with the skills necessary to perform the task assigned. The foundation of any company is the organizational structure.
Management positions are responsible for staffing. This involves recruiting potential employees to fit the needs of the company. The main goal behind staffing is to fit the right type of employees in the appropriate position, promoting success for both the employee and company.
The coordinating function involves implementation of the planning, organizing and staffing functions. This function is performed in meetings and planning sessions with different department heads. Management must implement strong communication, supervision and direction in this function.
Control is a function in which management enforces other functions of management to establish high performance standards. This function identifies problems and solutions that can have an impact on the overall performance of the company.