Functions of Management
Sunny Bhaskar
11/7/20241 min read
1. Planning
This is the first and foundational function of management.
Involves setting goals, determining actions, and deciding on resources required to achieve those goals.
Example: A company planning to increase sales by 20% in the next year.
2. Organizing
Organizing is about arranging resources (people, equipment, finances) and tasks to implement the plan.
It involves creating a structure of roles and responsibilities.
Example: Assigning teams to different departments and setting up a communication structure.
3. Leading
This function involves motivating, guiding, and managing employees to work effectively.
It includes communication, team building, and conflict resolution.
Example: A manager encouraging their team to achieve targets by providing guidance and support.
4. Controlling
Controlling involves monitoring progress, comparing actual performance against set goals, and making adjustments if needed.
It ensures that the organization is on track to achieve its objectives.
Example: Checking if sales targets are being met, and if not, taking corrective action.
These functions are interrelated and occur simultaneously in an organization to ensure its smooth and efficient operation.