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The four functions of management are: Planning, Organizing, Directing, and Controlling.
These functions are closely interlinked and interwoven in character. All executives or mangers, regardless of their area and position, are incharge these functions. These functions are the identifying marks by which a manger can be differentiated form a non-manager.
Generally, CEO along with senior managers is responsible for planning and organizing business strategies. Organizing function is dealt by mid-level managers who closely after a well predesigned plan. Controlling is looked after by line managers who are responsible for setting standards, measuring performance against those standards, and correcting variations from the standards and plans. Managers should anticipate control issues throughout the planning, organizing, and leading functions. By monitoring the environment on an on-going basis, managers can often avoid or decrease performance problems by adapting the plan, modifying the organizational structure, or adjusting the leadership style. Management theory today emphasizes the importance of these four functions to the successful completion of management tasks.
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