Management is the soul of organization and plays a key role. The success of any organization depends upon effective organization. Business organizations and management are not separable. Management without business organization and business organization without management cannot exist and are meaningless. The main functions of management are planning, organizing, staffing, directing, controlling, communicating etc.
The functional approach of management is widened. We can describe the managerial functions as follows:
1. Planing
Planning is the basic function of management. It is the art of predicting and deciding future activities. Planning is related with determination of goals and objectives to be achieved and the course of action to be followed to achieve them. Planning consists decisions and give rise to some questions that what to do, how to do, when to do and who will do a particular task.
2. Organizing
Organizing function of a firm relates with managing the resources like men, money, time, materials and machines and their proper allocation as per the need of time and work so that proper utilization and control could be made possible to this regard. Therefore, organizing involves bringing together the human and material resources for achievement of corporate goals, determining the rights and duties clearly so that scale of effectiveness could be maintained and work efficiency could be established within the organization.
3. Staffing
Staffing is another key function of management which is concerned with human resources planning and it is an executive task. This executive task is related to determination of manpower requirement, their recruitment, selection and training. Further the task also involves employees promotion, their transfer, remuneration and job satisfaction.
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4. Directing
Another function of management is directing. Directing is providing all guidance and inspiration to people at work to carry out their assigned duties and responsibilities. It is an important managerial function performed by all managers of different levels of management. It is the act of giving order or suggestions or guidelines to the staffs for achieving the organizational goals. Directions given by top level management should be very clear and understandable.
5. Communicating
Communication is one of the most important managerial function. The success of an organization depends very much on the effective communication system. There should be two way communication. Downward communication carries the orders and instructions to the subordinates and upward communication enables a manager to understand the subordinates and their performance.
6. Controlling
Controlling is the basic managerial function. It is the process of ensuring that actual activities conform to plan activities. Controlling involves guiding and regulating operations. The main objective of controlling is to make sure that actual performance is consistent with plans.
7. Coordinating
Coordinating is such managerial function which helps the organization to harmonizing the activities of various departments and specialists for the achievement of organizational goals. It ensures an unified action throughout the organization.
8. Motivating
Motivating is the managerial function to inspire the subordinates and other staff members to work hard and to achieve the goals of the organization. It relates with creating interest and willingness among the staffs. The effective motivation depends upon the fulfillment of the personal objectives of the employees of the organization.
9. Leading
Leading is an act of influencing the staffs towards the accomplishment of organizational goals. It is very important function of management. A manager cannot manage effectively unless he can lead his subordinates effectively. It is the ability to persuade others to seek defined goals.
