Management has been described as a social process involving responsibility for economical and effective planning & regulation of operation of an enterprise in the fulfillment of given purposes.
It is a dynamic process consisting of various elements and activities. These activities are different from operative functions like marketing, finance, purchase etc. Rather these activities are common to each and every manger irrespective of his level or status.
Different experts have classified functions of management.
According to George & Jerry, There are four fundamental functions of management i.e. planning, organizing, actuating and controlling.
According to Henry Fayol, To manage is to forecast and plan, to organize, to command, & to control.
Whereas Luther Gullick has given a keyword POSDCORB where P stands for Planning, O for Organizing, S for Staffing, D for Directing, Co for Co-ordination, R for reporting & B for Budgeting.
But the most widely accepted are functions of management given by KOONTZ and ODONNEL i.e. Planning, Organizing, Staffing, Directing and Controlling.
For theoretical purposes, it may be convenient to separate the function of management but practically these functions are overlapping in nature i.e. they are highly inseparable. Each function blends into the other & each affects the performance of others.
Functions of Management" />
Get access to complete course on Functions of Management
Planning
Organizing
- Identification of activities.
- Classification of grouping of activities.
- Assignment of duties.
- Delegation of authority and creation of responsibility.
- Coordinating authority and responsibility relationships.
Staffing
- Manpower Planning (estimating man power in terms of searching, choose the person and giving the right place).
- Recruitment, Selection & Placement.
- Training & Development.
- Remuneration.
- Performance Appraisal.
- Promotions & Transfer.
Directing
- Supervision- implies overseeing the work of subordinates by their superiors. It is the act of watching & directing work & workers.
- Motivation- means inspiring, stimulating or encouraging the sub-ordinates with zeal to work. Positive, negative, monetary, non-monetary incentives may be used for this purpose.
- Leadership- may be defined as a process by which manager guides and influences the work of subordinates in desired direction.
- Communications- is the process of passing information, experience, opinion etc from one person to another. It is a bridge of understanding.
Controlling
- Establishment of standard performance.
- Measurement of actual performance.
- Comparison of actual performance with the standards and finding out deviation if any.
- Corrective action.
Related Articles
- Planning Function of Management
- Organizing Function of Management
- Staffing Function of Management
- Directing Function of Management
- Controlling Function of Management
- Principles of Management
- Importance of Management
- Management and Administration
Authorship/Referencing - About the Author(s)
| The article is Written and Reviewed by Management Study Guide Content Team. MSG Content Team comprises experienced Faculty Member, Professionals and Subject Matter Experts. We are a ISO 2001:2015 Certified Education Provider. To Know more, click on About Us. The use of this material is free for learning and education purpose. Please reference authorship of content used, including link(s) to ManagementStudyGuide.com and the content page url. |
Management Basics
- What is Management ?
- Features of Management
- Levels of Management
- Objectives of Management
- Importance of Management
- Management and Administration
- Functions of Management
- Co-ordination - Introduction
- Co-ordination and Co-operation
- Management Principles
- Management Principles - Features
- Importance of Management Principles
- How Management Functions are Performed at Coca Cola
- Scientific Management - Introduction
- Principles of Scientific Management
- Techniques of Scientific Management
- Criticism of Scientific Management
- Taylor and Fayol
About Us
Main Subjects
- Management Basics
- Management Functions
- Organizational Behaviour
- Marketing
- People Management
- Operations
- Finance
- Economics
- List of all Subjects
Premium Membership
- Powerpoint Presentations
- Download FREE Presentations
- Membership - FAQs
Management Study Guide is a complete tutorial for management students, where students can learn the basics as well as advanced concepts related to management and its related subjects. We are a ISO 9001:2015 Certified Education Provider.
© Management Study Guide Privacy Policy
