Which function of management focuses on resource allocation?

The function of management that focuses on resource allocation is planning. During the planning process, managers assess the resources available, such as human, financial, and physical assets, and determine how to best utilize these resources to achieve the organization's goals and objectives. This involves setting priorities, forecasting future needs, and allocating resources effectively to ensure that the organization can operate efficiently.

In planning, managers consider what resources are needed for various projects, how much of each resource is required, and how to allocate them across different departments or initiatives. This is crucial for creating a roadmap that guides the organization toward success while optimizing resource use.

While other functions like organizing, leading, and monitoring do involve aspects of resource management, they do not primarily focus on the initial allocation of resources to achieve strategic goals. Organizing deals more with the arrangement of resources and tasks after planning has taken place, leading involves motivating and directing team members, and monitoring involves tracking progress and performance against plans. In this context, planning is the core function that lays the foundation for effective resource management.