Functions of Management in some form or another is an integral part of living and is essential wherever human efforts are to be undertaken to achieve desired objectives. The basic ingredients of management are always at play, whether we manage our lives or business.
“Management is a set of principles relating to the functions of planning, organizing, directing, and controlling, and the applications of these principles in harnessing physical, financial, human, and informational resources efficiently and effectively to achieve organizational goals”.
1. Planning:
It includes forecasting, formation of objectives, policies, programs, producer and budget. It is a function of determining the methods or path of obtaining their objectives. It determines in advance what it should be done, why it should be done, when, where, how it should be done. This is done not only for organization as a whole but also for every division, section and department. Planning is thinking before doing.
2. Organizing:-
It includes departmentalize, delegation of authority, fixing of responsibility and establishment of relationship. It is a function of providing every thing useful to the business organization. There are certain resources which are mobilized i.c. man, machine, material, money, but still there are certain limitations on these resources. A manager has to design and develop a structure of various relations. This structure, results from identification and grouping work, delegation of authority and responsibility and establishing relationship,
Identification of activities,
Classification or grouping of activities,
Assignment of duties,
Delegation of authority and creation of responsibility.
3. Staffing:-
It includes manpower planning, recruitment, selection, placement and training. People are basically responsible for the progress of the organization. Right man should be employed for right job. It also involved training of personnel and proper remuneration,
Manpower Planning (estimating man power in terms of searching, choose the person and giving the right place),
Recruitment, Selection & Placement,
Training & Development,
Remuneration,
Performance Appraisal,
Promotions & Transfer.
4. Directing:-
It includes decision-making, supervising, guidance etc. It reflects providing dynamic leadership. When the manager performs these functions, he issues orders and instructions to supervisors. It also implies the creation of a favorable work, environment motivation, managing managers, managing workers and managing work environment,
Supervision- implies overseeing the work of subordinates by their superiors. It is the act of watching & directing work & workers,
Motivation-means inspiring, stimulating or encouraging the subordinates with zeal to work. Positive, negative, monetary, non-monetary incentives may be used for this purpose,
Leadership-may be defined as a process by which a manager guides and influences the work of subordinates in desired direction,
Communications- is the process of passing information, experience, opinion etc. from one person to another. It is a bridge of understanding,
5. Communication:-
Communication provides the vital link in any organization. Every successful manager has to develop an effective system of communication. Communication means exchange of facts, ideas and information between two or more people. It helps in building up high moral.
6. Controlling:
It is a process of checking actual performance against standard performance. If there is any difference or deviation, then these differences should be detected, and necessary steps should be taken. It involves three elements:
Establishing standard of performance,
Measuring actual performance with establishment,
Finding out reasons for deviation.
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