List and explain the four core functions of management using the POSDCORB Model:

Question

What will be an ideal response?

Answer 1

Planning––choosing a course of action and outlining what needs to be done. Planning requires
establishing standards and creating evaluation measures to ensure that organizational goals and
objectives are achieved. It is a basic managerial activity that requires an understanding of where
the organization is and where it wants to be.
Organizing Establishing formal structures of authority and coordinating and defining
work subdivisions
necessary to get the job done.
Staffing Involves human resource-related functions, including recruitment, selection,
and the training of
employees.
Directing Is related to leadership. Directing is making correct decisions and ensuring
that all resources,
including personnel, are used properly to achieve organizational goals.

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Coordinating Ensuring that personnel and resources work together toward specific goals and
objectives.
Reporting Keeping superiors and subordinates informed as to what is going on by making sure
that
information keeps flowing through the organization. Reporting includes both verbal and written
forms of communication.
Budgeting Includes all aspects of the budgeting process, including fiscal planning, accounting,
and expense
controls.