What are the main 4 functions of management?
Management is an activity consisting of a process which is mainly concerned with the important task of goal achievement. No business enterprise can achieve its objective until all the members of the organization work in a planned and integrated way.
Management is considered a continuing activity made up of basic management functions which are Planning, Organizing, Staffing, Directing and Controlling.
Functions of Management
These are the functions of management explained below:
Planning is deciding in advance what is to be done. When a manager plans, he projects a course of action for the future, attempting to achieve a consistent, coordinated structure of operation aimed at the desired result.
Organizing is the process of identifying and grouping the work to be performed defining and delegating responsibility and authority and establishing relationships for the purpose of enabling people to work most effectively together in accomplishing objectives.
Staffing involves manning the organization structure through proper and effective selection appraisal and development of personnel to fill the roles designed into the structure.
Direction is the interpersonal aspect of managing by which subordinates are led to understand and contribute effectively and efficiently to the attainment of enterprise objectives.
The manager must stimulate action by giving direction to his subordinates through orders and also supervising their work to ensure that the plans and policies achieve the desired actions and results.
Coordination harmonizes synchronizes and unifies individual efforts for better action and for the achievement of business objectives.
Coordination is the essence of management. Some writers in the area of administration and management consider Coordination as a separate managerial function.
However, coordination might be considered an essential part of all the managerial functions of planning, organizing, directing and controlling. It is a managerial activity which is needed at all levels of management.
Communication is a mutual transfer of information and understanding. Through proper communication by using simple, local and unambiguous language, a manager can create a feeling of belongingness on the part of the subordinates.
Communication also leads to sharing of information, ideas and knowledge. It enables the group to think together and act together.
Informing about the work done, problems faced and results achieved to the boss/head of the Department/management is called reporting. Reporting in proper timing helps to solve problems; which makes it an easy process to achieve the target.
Budgeting means preparing a receipt/resources and payment/applications statement in advance before starting any plan. It helps in numerical terms the requirements of various resources such as money, men, materials, machinery, methods and time with which the management deals.
Control consists in verifying whether everything occurs in conformity with the plan adopted, the instructions issued and the principles established.
Controlling is the process of checking whether or not proper progress is being made towards the objectives and goals and acting if necessary, to correct any deviation.
Controlling ensures that there is effective and efficient utilization of organizational resources so as to achieve the organizational goals. Controlling has two basic purposes a) It facilitates coordination b) It helps in planning.
What are the functions of management?
The following are functions of management given below: