Strategic planning, Tactical planning, Operational planning, and Contingency planning are the four types of planning a business owner can use depending on the purpose of the plan. Planning involves a series of steps and tasks that define a course of action to keep a business stable while moving forward (Editorial Board, 2011). In a business you have to create the goals that you would like to accomplish and then figure out how you will reach your goals. Planning has to do with making the right decisions for the right situation. It is enhanced by a capacity to envision a future that is different from and better than today (Editorial Board, 2011).
The second function of management is organizing. Organizing involves allocating and arranging the resources needed to implement or operational planning (Editorial Board, 2011). When organizing a business you are now putting the pieces together. Figuring out how many employees are needed to run your business successfully. Designing policies and procedures for your business and also your employees falls under organizing. Organizing also involves laying out, assigning, coordinating, and integrating work (Editorial Board, 2011).
Leading reflects the ability to positively influence, motivate, or inspire staff to optimal performance in service of the business’s goals and objectives (Editorial Board, 2011). Leading falls into play with management when you have to motivate your employees to want to work. A manager is a leader you should mentor, coach and guide your employees. Leading means you enforce the policies and procedure that were put into place making sure all of your businesses goals are met. Controlling entails assessing and measuring performance and taking corrective action, as necessary, to bring performance in line with expectations. Measuring performance yields information about a business’s position with respect to its goals, objectives, standards, and expectations (Editorial Board, 2011). When management is controlling it doesn’t mean controlling employees. Controlling is taking a step back to review what has been put into place. Sometimes when making goals and putting policies together you might need to make a few changes to reach the goal you want. When trying to decide how you will manufacture your products its best to review all of your options. As an inventor newly starting a business to me you should outsource the entire manufacturing operation to an offshore company. I chose this option because even though the