Functions of Management
Earlier management was segregated into five functions which were-
- Planning
- Organizing
- Staffing
- Directing and
- Controlling.
The basic objective of these functions is maximum utilization of resources available at company's disposal so that organization's mission and policies could be achieved in the best possible way.
Planning is the first function which is basically a logical thinking process that decides what needs to be done in order to achieve organization's goals and objectives. It focuses on the broader perspective of the business as well as taking into consideration, the tactical methods to get the desired results.
Organizing is about setting up and maintaining the internal organizational structure in accordance with objectives mentioned in planning stage. It also involves assigning tasks to various individuals for the larger goal of organization's missions and objectives.
Staffing is the process of choosing right people for organization. It can be associated with human resource management and involves recruitment, hiring, training and compensating the workforce.
Directing is guiding people in the organization through the means of counselling, instructing, motivating and various other modes of communication. It helps in channelizing the activities and conduct of employees so that organizational goals can be accomplished.
Controlling is the sum total of process which ensures all the plans are executed and implemented in the desired way. It also decides about whether some corrective and preventive methods need to be taken. It is meant to ascertain problem areas and remedial measures.
Apart from these, minor functions include reporting, budgeting and co-ordinating which are designed to perform specific functions
