Management is described as a social process. Management is the art of getting things done through others and with the help of others in order to achieve the specific organizational goal. The dynamic process consists of various activities.
Management is a series of continuous inter-related functions. Each one of them performed to guide and direct the efforts of others.
Functions of Management are:
- Planning
- Organizing
- Staffing
- Directing
- Controlling.
Planning: It is the basic function of management. Planning means deciding in advance, what to do, when and how to do. A plan is future course of action. Planning determines course of action to achieve desired goals. Planning ensures proper utilization of resourses and avoids confusion, uncertainty, risk and wastages.
Organizing: It is the process of bringing together physical, financial and human resources. Organizing is to provide with everything useful for functioning of business, i.e., Raw materials, tools, capital and labour.
Organizing as a process involves:
- Identification of activities
- Classification of activities
- Assignment of duties
- Delegation of authority
- Coordinating authority.
Staffing: Staffing is a function of managing organizational structure. Due to advancement of technology, increase in size of business, and complexities of human behavior staffing had assumed greater importance.
Staffing Involves:
- Manpower planning
- Recruitment, selection and placement
- Training and development.
- Remuneration
- Performance appraisal
- Promotions and Transfers.
Directing: Actuating organizational methods to work efficiently for achieving organizational goals is called directing. Planning, organizing, guiding staffing are the mere preparations for doing work, but directing is the inter personnel aspect of management which deals directly with subordinates by
- Supervision
- Motivation
- Leadership
- Communication.
Controlling: Controlling refers to the measurement of actual performance against the standard set. Purpose of controlling is to ensure that everything occur in accordance with set standards.
Controlling has the following steps:
- Establishment of standards.
- Measurement of actual performance
- Comparison of actual performance with the standards.
- Corrective action for deviation if any.
