What is the process of organizing and coordinating resources to achieve predetermined objectives efficiently and effectively?*PlanningControllingOrganizing

The process of organizing and coordinating resources to achieve predetermined objectives efficiently and effectively is known as Organizing.

Explanation:

1. Definition of Organizing: Organizing involves determining what tasks are to be done, who is to do them, how the tasks are to be grouped, who reports to whom, and where decisions are to be made. It essentially translates plans into action by arranging resources in a structured manner.

2. Importance of Organizing: This step is crucial because it helps in establishing a clear structure within the organization, thus ensuring that resources such as human, financial, and physical assets are utilized effectively.

3. Relation to Other Functions: While planning revolves around setting objectives and deciding on actions to achieve them, and controlling focuses on measuring performance and making adjustments, organizing serves as the foundation that supports both planning and controlling through the establishment of roles and responsibilities.

In summary, while all three functions—planning, organizing, and controlling—are vital to resource management, organizing specifically pertains to the arrangement and coordination of these resources to reach the set goals.