POSDCORD is an acronym that stands for Planning, Organizing, Staffing, Directing, Coordinating, Reporting, and Budgeting. It was introduced by Luther Gulick and is used in public administration to describe the essential functions of management. This framework helps managers effectively plan and implement policies, allocate resources, and ensure that organizational goals are met through coordinated efforts. Overall, POSDCORD serves as a guideline for efficient and effective management practices.