Complete information on the important functions of management

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Management is at the core of all business activities and without management the success of business unit can-not be expected. It is regarded as a process which performs certain definite functions. Prof. Koontz has viewed management “as the art of getting things done through and with people in formally organized groups.”

According to Terry management is “the accomplishing of predetermined objective through the efforts of other people”. Donal J. Clough has defined management as “the art and science of decision making and leadership.” Prof. Haimann has viewed management in three distinctive aspects:

  1. Management as a noun
  2. Management as a process
  3. Management as a subject.

Management as a noun means managerial personnel of an enterprise. As a process, it denotes various steps taken by management for accomplishing objectives. These steps are planning, organizing staffing and controlling. Management as a subject denotes the branch of knowledge necessary to complete the managerial functions.

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The following are the main features of management.

  1. It is not based on individual efforts but on group efforts.
  2. It is a social process because here work is done through the people,
  3. It is a process as it covers a series of steps.
  4. It is required by all levels of management.
  5. It is directed to achieve the organizational end.
  6. It is both a science and an art.

Functions

Management has certain definite tasks before it. Authorities widely differ on the subject but a common approach to which all authorities agree is “management is a process.” Management as a process includes all the steps of planning, organizing, directing and controlling. All these processes of management are denoted as management functions. The various processes of management are expressed in a simple phrase called “POSDCORB” where :

  1. P denotes Planning
  2. O denotes Organizing
  3. S denotes Staffing
  4. D denotes Directing. .
  5. CO denotes Co-ordination
  6. R denotes Reporting
  7. B denotes Budgeting.

1. Planning

This is the first step in the management process. Planning denotes deciding in advance what is to be done, when and how it is to be done and by whom it is to be done. It is a conscious determination of future course of action. A concrete planning is required at all levels of management to achieve the desired objective. It includes forecasting, policies, programmes, procedures and preparation of schedules. Planning for work is done before undertaking an action. It is undertaken with the objective of achieving the goal of the enterprise. It may be short term and long term planning.

2. Organizing

Organization denotes collection and integration of money, men and material to achieve the planned objective of the enterprise. In organizing, the work to be performed is classified into various classes and sub-classes. These classes are allotted to some group of persons with authority and responsibility. Organization denotes a pattern of ways in which large number of people have face-to-face contact and engaged in complexity of tasks to achieve the end of the enterprise. In organization, the work is so identified that no job remains uncovered.

3. Staffing

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It is one of the most important processes of management. It means allotment of required amount of manpower to discharge specific job. In other words it means providing of personnel form time to time for adoption of various policies designated to accomplish the organizational objective. This aspect of management function is vital because it emphasizes on right man in the right job. The principles of right man in right job is important because of organization is overstaffed it may amounts to wastage and if under staffed it will lead the work to be untouched.

4. Directing

Management must guide the personnel through whom it gets the work done. If proper direction of guidance is not given, management will face a lot of difficulties in getting things done. Direction includes :

  1. Supervising the employees.
  2. Decision-making.
  3. Guiding the employees.
  4. Communication and motivation.

5. Controlling

Control is essential for attainment of objectives of an enterprise. Controlling is determining what is being done, evaluating performances and applying corrective measures if necessary. If proper control is not exercised on the activities of the people working, it will create a lot of disturbances as people will work on their own ways. The management process controlling includes :

(a) Setting the standard of performances,

  1. Measurement of the performances,
  2. Comparison of actual performance with the standard performance,
  3. Taking corrective measures to avoid wastage in future.

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