Functions Of Managemant Engineering Economics & Management Functions Of Managemant 130060131030 Parekh Krutika 130060131031 Lad Yashika 130060131035 Mistry Saloni 130060131041 Patel Jinal 130060131042 Patel Krishna Computer Science & Engineering 3rd Sem
Functions of Management
What is Management? Management is the art and science of organizing and directing human efforts applied to control the forces and utilize the materials of nature for the benefit of man.
Functions of Management A person who holds a management position inside an organization is required to think strategically and conceptually in order to achieve organizational goals. Management has to carry out different functions: 1. Planning 2. Organizing 3. Staffing 4. Leading 5. Controlling
Managers must first plan, then organize according to that plan, recruit the staff, lead staff to work towards the plan, and finally evaluate the effectiveness of the plan. These five functions must be performed properly and, goal is achieved, this become the reason for organizational success.
Planning Process of identifying and selecting appropriate organizational goals and courses of action. When organizations fixes the goal, it is essential to plan the steps necessary to achieve it. So, deciding in advance what to do, how to do, why to do, where to do and who will be responsible for doing is termed as Planning.
Steps in the Planning Process Set the goal to be achieved Establish planning premises Prepare contingency plan Evaluate and select a course of action Develop derivative plan Measuring and controlling of the progress
Limitations of Planning Planning is very time consuming and expensive process. Planning sometimes may hinder the functioning of the organization in stable condition. So, organization may lose valuable opportunities. It is based on many assumption, it is difficult to adjust due to sudden change in market situation.
Organizing Tasks are allocated with responsibility and authority. This process is called Organizing. Task managers perform to create a structure of working relationships that allow organizational members to interact and cooperate to achieve organizational goals.
Organizing Involves grouping people into departments according to the kinds of job-specific tasks they perform Managers lay out lines of authority and responsibility Decide how to coordinate organizational resources
Staffing Organization must recruit those employees who are able to meet the need of the organization’s goals. So, recruitment of appropriate person as well as his training is considered as critical for the growth of organization. So, management of human resources is considered as Staffing.
Importance of Staffing It increase production by putting right person at right place. Through staffing, it is possible to identify the talent of employees. It prevent underutilization of human resource. It helps to identify various sources of recruitment and selection. It avoids the selection of wrong employee.
Leading Once effective plan is prepared, proper organizing of activities is done through trained staff, manager has to lead the team towards the organizational goals. The function of leading the people on the path through which organization goals can be achieved is termed as Leading.
Leading Articulating a clear organizational vision for its members to accomplish, and energize and enable employees so that everyone understands the part they play in achieving organizational goals Leadership involves using power, personality, and influence, persuasion, and communication skills. Outcome of leadership is highly motivated and committed workforce.
Nature of Leading It is an inter-personal process. Leader has qualities namely intelligence, maturity and personality. Leading process involves a group i.e., more than two or three people. Aim of leader is to reach the objectives of the organizations. No particular style of leadership is defined. Hence it changes from time to time.
Controlling Once the activities have been started towards accomplishing the goals, it is equally important to strictly monitor it and rectify it, if required, if it deviates from the planned time line. This process of monitoring and bring it back is termed as Controlling.
Controlling Task of managers is to evaluate how well an organization has achieved its goals and to take any corrective actions needed to maintain or improve performance. Every manager has to perform this function to check the progress. Controlling always look to future so that follow-up can be made whenever required because effective control is not possible without past controlled.