MANAGEMENT FUNCTIONS

MANAGEMENT FUNCTIONS

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

THE FUNCTIONS OF MANAGEMENT
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.

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:

• Identification of activities.
• Classification of grouping of activities.
• Assignment of duties.
• Delegation of authority and creation of responsibility.
• Coordinating authority and responsibility relationships.