Function of Management
The functions of management may be divided into two categories:
(1) Planning: Planning is the conscious determination of a future course of action to achieve the desired results. Henry Fayola observes that management should chalk out a plan of action which is the result envisaged, the line of action to be followed, to stages to go through and methods to use. It si the process of thinking before doing. It means the determination of what is to be done, how and where it is to be done, who is to do it and how results are to be evaluated.
(2) Importance: Management planning is an inevitable prerequisite for the attainment of business objectives by rational use of resources. It facilitates the building up of the organizational structure and helps in the critical appraisal of the relative merits and demerits of alternate policies and actions and choosing 'the best' method for achieving the pre- determined targets. In short, it introduces dynamism in business administration.
(3) (2) Organization: It is the process of dividing work into convenient tasks or duties, of grouping such duties in the form of posts, of delegating authority to each so that work is carried out as planned.
(4) Importance: Organization contributes to the efficiency of the enterprise. Through this process, all activities is avoided, thereby reducing operation cost in the organization.
(5) Staffing: It means manning the positions created by organization process. This process includes the selection of the candidates for positions, fixing financial compensation, training and development, promotion, transfer, etc. Importance: Staffing assists in the selection of the right man for the right job. The manager can conveniently perform the duties of job analysis, job description, appraisal of efficiency, etc. which come under the staffing function.
(6) Direction: Once subordinates are oriented, the superior has a continuous responsibility of guiding and leading them for better work performance and motivating them to work with zeal, confidence and enthusiasm. Direction assists in this pious task. George Terry has used the word actuating for Directing.
Importance: Direction is the key to the achievement of the desired result.
(7) Co-ordination: Co-ordination may be defined as the synchronizing of effort from the standpoint of time and the sequence of execution. It involves the development of unity of purpose and the harmonious implementation of plans for the achievement of the desired ends. Importance: It aims at canalization of group efforts in the direction of the chosen goals of business. Coordination leads to the completion of the production and other functions as per planned schedules. It eliminates inconsistencies in objectives and policies and develops team spirit and atmosphere of co-operation among the staff.
(8) Motivation: It is a psychological technique of executing the plans and policies through the efforts of others. It is a means of triggering human desire to do. Desire and willingness on the part of the worker to perform a given task depends on his attitudes satisfaction morale as well as the systems of communication, incentive, fair treatment and human approach built-up management. Importance: It is a constructive force in management by objectives and direction. It is through motivation that the manager inspires the subordinates to do what he wants them to do.
(9) Control: It involves the process of visualizing whether the activities have been or are being performed in the same way as contained in the plans because any deviation will result in inefficiency in the organization. Importance: The controlling function brings to light the deviations if any and assists the management in making the necessary changes in the plan or policies.