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Management Henry Fayol, in early part of twentieth centuryproposed that all managers Perform five functions. Today,these functions have been condensed to four.They are:-I. PlanningII. LeadingIII. ControllingIV. Organizing
Planning If you have no particular destination in mind,then anyroad will sufice.However, if you have someplace inparticular you want to go,you need to plan the best wayto get there. Because an organisation exists to achieve someparticular purpose,Planning is must in management. Planning defines goals,establish strategies forachieving goals and develop plans to integrate andcoordinte activities.
Characteristics of planning It is first function of Management Planning is Forward looking. Planning is a thinking process distinct fromoperations. Planning is pervasive. Planning is continuous. Planning is interactive and iterative process.(contd..)
Characteristics of planning Planning is dynamic. Planning is a realistic Process. Planning results into selection of course of action.
Organizing Managers are responsible for arranging and structurework to accomplish the organization’s Goals. Organizing defines what needs to be done,how it willbe done and who is to do it.
Characteristics of Organizing It is a formal structure of activities and authorities. Efforts to achieve goals of unit at each level are clearlydefined. Efforts are properly Departmentalized. Authorities and responsibilities are clearly defined Inter-relations among each employee become distinctdepending upon relative importance of Efforts.
Leading Leading is a critical function of management. Every organization has people, and a manager’s work isto work with and through people to accomplish goals. It includes following sub-functions:-Leadership-Motivation-Communication
Leadership Leadership is the essence of successful management. Leadership is a broader function of “Directing”. Successful leadership will influence the peoplespontaneously through infinitive appeal rather thanthe external factor.
Motivation Motivation is an important function of “Directing”function of management. Generally employees are not putting their the best inthem from organization. It is generally concluded that some deliberate effortsmust be made to moyivate the employees to extract themaximum possible capabilities to the benefit oforganization.
Controlling After goals and plans are set tasks and structuredarrangements are put in place and people arehired,trained and motivated there has to be someevaluation of whether things are going as planned thisfunction comes under controlling.
Characrteristics of controlling Planning and controliing are intimately related. It is a positive process. It is a person oriented activity. It is a dynamic Process. It is a pervasive activity.
Benefits of Controlling: Efficient & Effective use of resources. Creative and Innovative Use of Human Resources. Stimulates & Streamlines all managerial functions Proper Delegation of authority Improves Profitability and competitive Strength. Develops Goal Congruence and value distributionamong various stoke-holder