Functions of Management

Functions of Management

Introduction

Management is explained as a process of accomplishing organizational goals with collaboration with other people in the organization and by using the organizational resources meaningfully (Stoner, 1992).

There are three characteristics of Management as described below:

System and series of carrying on the related activities.

Works to achieve organizational goals by its full concentration towards its work.

In order to achieve organizational goals, it uses the organizational resources meaningfully and collaborates with the people working within the firm.

Management plays a vital role in an organizational structure. It encompasses several core and major functions. Management theorists, over the time, have proposed different functions of management but there are five functions that are agreed upon by most of the management analysts. Common management functions which are classified by the Management theorists are listed as under (Stoner, 1992).

Planning

Organizing

Leading

Staffing

Controlling

Discussion

Planning

Planning involves the establishment of strategies and deciding on activities and actions to achieve organizational goals. It involves selecting tasks to be performed in order to reach organizational goals, highlighting the tasks to be performed in which direction and specifying when they are to be performed. For example if the organizational goal is to be the leading company in the country. The manager will seek what will be the first step in order to seek a way towards the attainment of the goal. These steps may involve the marketing strategies that how to market their product, cost cutting planning i.e. whether how the company can cut its costs in order to enlarge the profit graph and it can also include the strategies of recruitment of the employees so that the organization will get the best personnel for the company. All the necessary steps are established into a plan. Right after the plan in made, managers can start working in the direction of plan for the accomplishment of the goals (Marquardt, 2006).

Organizing

Right after the plan, the Organizing function of the management comes. Here the manager organizes his employees and team members as well as organize his resources. It involves assigning different work to his team mates and giving them the required authority. Granting authority is an important part of organizing as in the absence of the manager; his co workers can take control of the panic situations without bothering their manager (Kweder, 1965).

Leading

Function of management which involves the effort from the manager to stimulate and encourage high performance by the workers and employees. It includes directing the employees by showing them the right way to work and attain organizational goals, encouraging and motivating the subordinates by empowering them, communicating with them when they want to either in groups or in person (Holt, 1993).

Controlling

Function of controlling involves monitor progress and to take necessary step either by making needed changes to ensure that the firm's goals are achieved. Controlling can be done by setting the standards which will reflect the progress towards the attainment of organizational goals. Monitoring the performances of the subordinates through data evaluation is also the part of ...