1. Functions Of Managemant
Engineering Economics & Management
Functions Of Managemant
Parekh Krutika
Lad Yashika
Mistry Saloni
Patel Jinal
Patel Krishna
Computer Science & Engineering
3rd Sem

2. Functions of Management

3. 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.

4. 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

6. 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.

7. 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.

8. 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

9. 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.

10. 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.

11. 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

12. 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.

13. 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.

14. 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.

15. 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.

16. 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.

17. 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.

18. 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.