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Word Count: 974
The future of management is changing rapidly Starting at the end of the 20th century corporations began restructuring themselves The introduction of the Internet advances in technology globalization diversity and social responsibility have forced many companies to rethink old management styles and look for more innovative ways to compete for their market share This rapid change has left many companies on the decline because they either were not willing or were not ready to adapt to such rapid change and it caused stagnation Because our world is constantly changing corporations must not only face the changes presented today but also be aware and be able to adapt to the changes of tomorrow The Four Functions of Management are the core foundation for business management today However because the only thing that is constant is change itself these functions should not be the only principles taken into consideration to help achieve success As companies become more technologically advanced and the global market continues to change so will the definition for The Four Functions of Management To understand the difference between management and leadership a quick look at their definitions is useful The Oxford English Dictionary defines management as Organization supervision or direction the application of skill or care in the manipulation use treatment or control of a thing or person or in the conduct of something management Leadership is defined as ability to lead the position of a group of people leading or influencing others within a given context the group itself the action or influence necessary for the direction or organization of effort in a group undertaking leadership So generally speaking management is the application or function of controlling others whereas leadership is the relationship between leader and follower - the leader is the one to guide others Leaders help their followers to achieve success by removing obstacles and making sure they have the right skills and resources provided to them They share
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