There are four fundamental functions of management i.e. planning, organizing, actuating and controlling”.
– It deals with drawing out a future course of action & deciding in advance the most appropriate course of actions for achievement of pre-determined goals.
– Planning is deciding in advance – what to do, when to do & how to do.
– It is an intellectual activity and it also helps in avoiding confusion, uncertainties, risks, wastages etc.
- Organizing :
– It is the process of bringing together physical, financial and human resources and developing productive relationship amongst them for achievement of organizational goals.
– Organizing as a process involves:
a) Identification of activities.
b) Classification of grouping of activities.
c) Assignment of duties.
d) Delegation of authority and creation of responsibility.
e) Coordinating authority and responsibility relationships.
- Staffing :
– Managerial function of staffing involves manning the organization structure through proper and effective selection, appraisal & development of personnel to fill the roles designed in the structure.
a) Manpower Planning R
b) Recruitment, Selection & Placement.
c) Training & Development.
d) Performance Appraisal.
e) Promotions & Transfer.
- Directing (Leading):
– Direction is that inert-personnel aspect of management which deals directly with influencing, guiding, supervising, motivating sub-ordinate for the achievement of organizational goals.
– Direction has following elements:
a) Supervision: It is the act of watching & directing work & workers.
b) Motivation: means inspiring, stimulating or encouraging the sub-ordinates with zeal to work.
c) Leadership: may be defined as a process by which manager guides and influences the work of subordinates in desired direction.
d) Communication: is the process of passing information, experience, opinion etc from one person to another.
– 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.
– The purpose of controlling is to ensure that everything occurs in conformity with the standards.
– An efficient system of control helps to predict deviations before they actually occur.
– Therefore controlling has following steps:
a) Establishment of standard performance.
b) Measurement of actual performance.
c) Comparison of actual performance with the standards and finding out deviation if any.
d) Corrective action.