Functions of management pdf

Setting objectives-This step involves management defining their goals. The characteristics of a well-designed goal can be stated as it should be specific, written in terms of actions, measurable and quantifiable; time bound. Analysing the present situation and future opportunities- this is done by undertaking a SWOT strength, weaknesses, opportunities and threats analysis. The test helps management outline the organisation's strengths such as brand name, weaknesses such as understaffing, opportunities available currently and in the future such as increased market demand for an organisation's products, and threats to the organisation, such as competition, or economic turmoil.

Developing and evaluating alternatives- This step involves management devising several plans on how to achieve their objectives. Implementing the plan-At this stage, management selects the best plan from the alternatives they've developed. This may involve changing the way activities are undertaken in the organization. Monitoring and reviewing results-Management must monitor the results that their plan generates, and decide whether the plan they selected was successful.

If it wasn't, management may either have to modify their existing plan, or select another plan from the alternatives they created. If the plan is going well, management can revise the way they are conducting their activities so that they can see whether they can still make any improvements on their plan. Keep in mind that it's probably a good idea to create flexible alternative plans in the beginning, because it's much easier to be able to change an existing plan rather than having to implement a whole new one.

Peter F. Druker explained the MBO Management by Objective as a concept wherein the top management first sets objectives based on the mission of the company. Though some perceive it as an appraisal tool, some see it as a motivational technique; still others consider it as a planning and control device.

The process of organizing involves designing and development of structure of relationships between members of the team or group assigned to carry out the planned task. It also includes the job of filling and keeping filled positions in the organization. Organizing also includes deciding what type of management structure is required. The structure is usually represented by an organization chart, which provides a graphic representation of the chain of command within an organization. Decisions made about the structure of an organization are generally referred to as organizational design decisions.

The organization expansion becomes possible by grouping activities and people into departments. This could be done by virtue of time shifts eg. Decisions must be made about the duties and responsibilities of individual jobs, as well as the manner in which the duties should be carried out.

Organizing at the level of the organization involves deciding how best to departmentalize, or cluster, jobs into departments to coordinate effort effectively. There are many different ways to departmentalize, including organizing by function, product, geography, or customer. Many larger organizations use multiple methods of departmentalization. Organizing at the level of a particular job involves how best to design individual jobs to most effectively use human resources.

Traditionally, job design was based on principles of division of labor and specialization, which assumed that the more narrow the job content, the more proficient the individual performing the job could become. However, experience has shown that it is possible for jobs to become too narrow and specialized. Recently, many organizations have attempted to strike a balance between the need for worker specialization and the need for workers to have jobs that entail variety and autonomy. Many jobs are now designed based on such principles as empowerment, job enrichment and teamwork.

Staffing involves identifying work force requirements; inventorying the people available; recruiting, selecting, placing, promoting, appraising, planning the careers of, compensating and training or otherwise developing both candidates or current job holders to accomplish their tasks effectively and efficiently. Effective organizing depends on the mastery of several important concepts: work specialization, chain of command, authority, delegation, span of control, and centralization versus decentralization.

Work specialization, sometimes called division of labor, is the degree to which organizational tasks are divided into separate jobs. Employees within each department perform only the tasks related to their specialized function. The chain of command is an unbroken line of authority that links all persons in an organization and defines who reports to whom.

Authority is the right in a position to exercise discretion in making decisions affecting others. The span is defined as the number of subordinates that a supervisor can manage. Delegation of authority is when a superior gives a subordinate the discretion to make certain decisions. The process includes determining the results to be achieved, assigning tasks, delegating authority and holding the person responsible for results.

Centralization is the concentration of authority. This could be geographic concentration, departmental or general tendency to restrict delegation. Decentralization is the tendency to disperse the decision making authority. Leading plays a very crucial part in the business organization. A leader is interpreted as someone who sets direction in an effort and motivates people to follow that direction.

If there is no good leadership the business will not reach its objective. Every successful business requires effective leadership to fully utilize the skills of staff in order to achieve the aims of the business.

This is not just a matter for larger businesses, even if only one or two people is employed manager still need to make sure that they make the most of their abilities and aptitudes. Motivation refers to the entire class of drives, desires, needs, wishes and similar forces. Human motives are based on needs.

Some of these are physiological requirements for water, air, sleep and shelter. Others are secondary such as self esteem, status affiliation, affection, accomplishment and self-assertion. Psychologist B. Skinner developed an interesting technique for motivation called positive reinforcement or behavior modification.

This holds that individuals can be motivated by proper design of their work environment and praise for their performance and that punishment for poor performance produces negative results. This approach analyzes the work situation and determines what causes workers to act the way they do and initiate changes to eliminate troublesome areas or obstruction to performance. Some of the special motivation techniques used today includes money, participation, quality of work life and job enrichment.

Job enrichment attempts to make the job more varied by removing dullness associated with performing repetitive operations. According to a November Mckinsey report the three key motivators were praise from immediate managers, attention from leadership often in the form of one on one conversation and an opportunity to lead a project or task force. Edgar H. Schein developed four conceptions about motivation of people: a Rational-economic assumption: based on the idea that people are primarily motivated by economic incentives b Social assumptions: based on the idea that people are motivated by social needs.

A very important and often overlooked factor in managing people is creativity. Creativity is the ability to develop new ideas. Innovation is the ability to use these ideas. Most employees prefer to work in a place where they have the liberty to use their creativity and innovate.

This freedom address their need to achieve their own goals and enables them to contribute to the company better in terms of new products, efficient ways to do existing activities, patents etc. Leaders encourage their group to be more innovative and creative by letting them communicate in a less stressful and casual environment. There are no official channels and so ideas flow more easily and are quickly implemented. The hierarchy of the company runs lateral instead of vertical to maximize creativity.

Understanding the human factor is the key for the leading function. A manager must harmonize the needs of the individuals with the demands of the enterprise. Leaders can impact on innovation as motivators and as organizational architects.

As motivators they might act as transformational or transactional leaders. As organizational architects they create the organizational context or environment within which innovation takes place.

Leading involves the social and informal sources of influence that you use to inspire action taken by others.

If managers are effective leaders, their subordinates will be enthusiastic about exerting effort to attain organizational objectives. The ingredients of leadership can be summarized as a the ability to use power effectively and in a responsible manner, b the ability to comprehend that humans beings have different motivation forces at different times and in different situations, c the ability to inspire and d the ability to act in a manner that will develop a climate conducive to responding to and arousing motivations.

The process of monitoring is to ensure that they are being accomplished as planned and of correcting any significant deviations. Controlling consists of three steps, which include 1 establishing performance standards, 2 comparing actual performance against standards, and 3 taking corrective action when necessary. Performance standards are often stated in monetary terms such as revenue, costs, or profits but may also be stated in other terms, such as units produced, number of defective products, or levels of quality or customer service.

These standards could be defined as verifiable goals and objectives as per the Management by Objectives MBO principle. The purpose of control is to ensure that activities are completed in ways that lead to accomplishment of organizational goals. This function does not imply that managers should attempt to control or to manipulate the personalities, values, attitudes, or emotions of their subordinates.

The aim of control is to keep deviations from planned activities so that the goals can be achieved with fewer problems. Controlling involves assessing and monitoring performance, compare with set standards, identifying variants and taking remedial action.

Management uses indicators they develop to both measure the organisation's actual performance, and then compare it to the figures they thought they would achieve. Once a performance comparison has been made, management can take corrective action if performance isn't up to scratch, or they can find ways to improve current performance even if things are going according to plan Managerial control is usually perceived as a simple feedback system.

In order to overcome the time lags in control, it is suggested that managers use a feed forward control approach and not rely on feedback alone. Effective controlling requires the existence of plans, since planning provides the necessary performance standards or objectives. Both are important but naturally, leadership is ahead of management. A well-balanced organization has leadership at its base.

The manager seeks to plan for the project or work and prepare budgets accordingly whereas a leader sets a direction to achieve that plan. The managers organizes and recruits the right people for the right jobs and the leader aligns the people recruited according to the direction set. The ability to motivate an entire group to strive toward a specific goal is a major part of what makes a good manager.

They use fun, engaging activities to keep everyone motivated and boost team morale. Good managers discover how to master five basic functions: planning, organizing, staffing, leading, and controlling.

Balancing Authority and Responsibility. What are the functions of management PDF? It is the basic function of management. Which function of the management is called essence of management? Coordination What are the two important characteristics of management? What is the 5 theories of management? What are important functions of management? What are the features of management process? What is the main function of administration? What is the essence of management?

What is management process and functions? What is known as the primary function of management? Why management is called process? What are the fundamental principles of administration? Which is not features of management? Co-operating is not a features of management. What are the five principles of administration? Principles of administration as presented by Henri Fayol are as below: Unity of Command.

Hierarchical transmission of orders. Seperation of powers, authority, subordination, responsibility and control. Organisation Chart. What are the 5 functions of management? What are the subsidiary functions of management? Besides the primary functions of management, below are some of the important subsidiary functions: Decision making: Joseph L. Innovation: Ernest Dale has given innovation as a separate function of- management.

Representation: Reporting: Budgeting: Forecasting: What are the major roles of a manager? Is team lead a manager? What is difference between leader and manager? Who is a manager in an organization? What are the 7 functions of management? What are the 3 important traits of managers? They build a work culture of mutual trust. They focus on employee strengths. They do not micromanage. They are assertive. They handle pressure well. They communicate honestly. Which is the most important function of management and why?

What is management in simple words? What makes a bad manager? What does a good management look like? What are the 5 management process? Which is the most important function of management? Planning What are the 10 roles of a manager? The ten roles are: Figurehead. Disturbance Handler. What are the types of management? These are the most common types of management. Strategic Management. Sales Management. Marketing Management. Public Relations.

Operations Management. Supply Chain Management. Procurement Management. What are the functions of management explain? What activities do managers perform? Training new employees. Coaching and developing existing employees. Dealing with performance problems and terminations.

Supporting problem resolution and decision-making. Conducting timely performance evaluations.