MANAGEMENT FUNCTIONS

MANAGEMENT FUNCTIONS
3.1 INTRODUCTION
Management consists of the functions given below. It is based on Henri Fayol s thinking
on the functions of management.
1. Planning
2. Organizing
3. Staffing
4. Directing
5. Controlling
3.2 THE FUNCTIONS OF MANAGEMENT
3.2.1 Planning
It is the basic function of management. It deals with chalking out a future course of
action & deciding in advance the most appropriate course of actions for achievement
of pre-determined goals. It bridges the gap from where we are and where we want
to be. A plan is a future course of actions. It is an exercise in problem solving and
decision making. Planning is determination of courses of action to achieve desired
goals. Thus, planning is a systematic thinking about ways and means for
accomplishment of pre-determined goals. Planning is necessary to ensure proper
utilization of human and non-human resources.
3.2.2 Organizing
It is the process of bringing together physical, financial and human resources and
developing productive relationship amongst them for achievement of organizational
goals. According to Henry Fayol, “To organize a business is to provide it with
everything useful or its functioning i.e. raw material, tools, capital and personnel’s”.
To organize a business involves determining and providing human and non-human
resources to the organizational structure. Organizing as a process involves: