Management has five core functions: 1. Planning involves setting targets and allocating resources and budgets to optimize productivity. 2. Organizing determines activities, groups them, and delegates responsibilities and authority. 3. Coordination develops unity of purpose through communication across departments and individuals. 4. Directing provides instructions, communicates decisions, and motivates employees' efforts. 5. Controlling keeps watch on achievements through budgets, reports, and analysis to ensure objectives are met.