FUNCTIONS OF MANAGEMENT

FUNCTIONS OF MANAGEMENT

FUNCTIONS OF MANAGEMENT

Management is a process of getting things done with the aim of achieving the goals effectively and efficiently. It consists of various inter-related functions such as planning, organizing, staffing, directing, coordinating and controlling for accomplishing the set targets of the organisation.

The functions of management defined by various management thinkers are as follows:

ACCORDING TO HENRY FAYOL

“To manage is to forecast and plan, to organize, to command, to co-ordinate and to control.”

He has given the following functions:

  • Forecasting and Planning
  • Organising
  • Commanding
  • Co-ordination
  • Control

LUTHER GULLICK

He has used the word POSDCORB to describe the various functions of management:

  • P: Planning
  • O: Organising
  • S: Staffing
  • D: Directing
  • CO: Controlling
  • R: Reporting
  • B: Budgeting

ACCORDING TO RALPH DAVIS

There are basically three functions of management:

  • Planning
  • Organising
  • Control

KOONTZ AND O’ DONNELL

He has described following functions of management:

  • Planning
  • Organising
  • Staffing
  • Directing
  • Controlling

ACCORDING TO EARNEST DALE

The functions of management are:

  •  Planning
  • Organising
  • Staffing
  • Directing
  • Controlling
  • Innovation
  • Representation

ACCORDING TO GEORGE R TERRY

There are four main heads of management functions:

  • Planning
  • Organising
  • Actuating
  • Controlling

Thus, the brief description of various functions of management are as follows:

PLANNING

Planning is the first and foremost function of management. It is deciding in advance about the future course of action. It is a ‘Thinking before Doing’ function. It is deciding about:

  • What to do?
  • How to do?
  • When to do?
  • Who will do it?

It is a mental activity. It bridges the gap between where we stand today and where we want to reach. Planning is the basic of all other functions of management.

ORGANISING

The next function of management after planning is organising. It is concerned with assembling, arranging, guiding, coordinating, directing and controlling the activities of others factors of production i.e. man, material, machinery and money to achieve the goals of business organisation.

It involves:

  • Creating organizational structure.
  • Job description, Job specification.
  • Determining authority-responsibility relationships.
  • Specifying the accountability of each job.

It is also responsible for setting an organisation structure to implement the plans made.

STAFFING

Staffing is concerned with filing and keeping the positions filled in the organisation structure. It is a function concerned with human resources of an organisation. It consists of:

  • Manpower planning
  • Recruitment, selection and training of employees
  • Placement and orientation
  • Development, promotion, transfer and performance appraisal
  • Determination of employee remuneration and other incentives.

DIRECTING

Directing is concerned with carrying out the desired plans. It is associated with guiding, leading, motivating supervising and inspiring the employees to work in a desired way to achieve the goals of the organisation effectively and efficiently. Direction is ‘Management in Action.’

Directing involves:

  • Supervision
  • Leadership
  • Motivation
  • Communication

Directing initiates organized and planned action and ensures effective performance by subordinates towards the accomplishment of group objectives.

CO-ORDINATION

Co-ordination is regarded as an Essence of Management. It is one of the most important functions of management. Co-ordination brings unity in action and integrates different activities of organisation. It ensures planned objectives are achieved with minimum cost. It is a continuous process and performed at all levels of organisation. It acts as binding force within the organisation.

SUPERVISION: It refers to overseeing the work of the employees or subordinates to ensure maximum utilization of resources.

MOTIVATION: It means an act of stimulating and inspiring someone to contribute his best for the accomplishment of goals.

LEADERSHIP: Leadership is a process by which an executive or manager directs or guides and influences the work of others in choosing and attaining specified goals.

COMMUNICATION: It means sharing of ideas, suggestions, feelings, emotions and knowledge and information between two or more persons. It is essential to create the cordial or good relations between the management and employees. It may be upward i.e. from subordinates to superior or downward i.e. from superior to subordinate.

CONTROLLING

Controlling is last function of management. It means determining what is being accomplished. It is concerned with evaluating the performance of the employees and applying the corrective actions, if necessary.

Controlling involves:

  • Establishing standards of performance
  • Measuring Actual performance
  • Comparing actual performance with standard performance
  • Finding out the deviations, if any
  • Taking corrective actions.
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Author: commerceiets
Educator (Masters of Commerce, Bachelor of Commerce)

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