Management Functions

Management Functions

Introduction

The four most important functions of management are planning, organizing, leading and controlling, performed by managers to achieve certain goals and objectives of an organization. The process of management may get affected by both internal and external factors. Other than these factors globalization and advancement on technology also impose impacts on the process of management.

Discussion

External Factors

External factors are those which impose impacts from outside the organization and are uncontrollable by the organization.

Economic Factors

Planning is carried out by considering the current economic situation of the global market as well as the particular environment. The rate of inflation, interest ...