Management is the process of controlling and making decisions about an organization, as well as overseeing others to ensure activities are performed efficiently and effectively. There are five elements of the management function: planning, organizing, staffing, leading, and controlling.
Planning is the process of setting goals and objectives and deciding how to accomplish them. It forms the foundation for all other management functions.
Organizing is the coordination of activities and resources needed to accomplish a plan. It helps identify the roles and responsibilities of employees.
Staffing is the process of recruiting, hiring, training, evaluating, and compensating employees.
Leading is the process of influencing others to work toward the attainment of common goals.
Controlling is the continuous process of comparing actual outcomes with planned outcomes and taking corrective action when goals are not met.
Effective management requires the application of all five management functions. Implementing all five functions helps to ensure business success and profitability.