Final answer:
The process in question is known as organizing, a key management function that involves structuring, allocating resources, and coordinating tasks to support an organization's goals.
Step-by-step explanation:
The process of assigning tasks, allocating resources, and coordinating the activities of individuals and groups is known as organizing. This is a fundamental function of management, alongside planning, leading, and controlling. Organizing involves creating structures to support the achievement of objectives, establishing clear lines of authority, and distributing resources efficiently. It's the framework within which the organization's activities are directed and controlled. Effective organizing ensures that there is a structure in place for roles and activities, which is crucial for smooth operational flow and achieving strategic targets.