Management & its function

Management in businesses and organizations is the function that coordinates the efforts of people to accomplish goals and objectives of organisation by using available resources efficiently and effectively.

Functions of Management

Some basic functions of managerial activities are applicable to all business enterprises.

1. Forecasting, estimates the future work as regards to sales, production, in a rice ting or any other activity.

2. Planning is a process by which manager anticipates future and discovers alternative courses of action open to him, Planning is rational, economic, systematic way of making decisions today which will affect future.

What to do? When to do f. Who will do it? Where will be done? All the questions are addressed for each activity in advance. Without proper planning activities of an enterprise may become confused, haphazard and ineffective, Proper planning is very essential for optimum use of resources

3. Organising- is the process by which the structure and allocation of jobs is determined. Organising people, mnatmals, jobs, time etc. and establishing a framework authorities are laid down in which responsibilities are defined and Organising in values determining activities required to achieve company's objective, grouping them in logical a manner and assigning them to subordinates

4. Staffing, is the process by which managers select train, promote and retire their subordinates, Staffing means placing right person at right place. Staffing is a continuous process.

5. Directing subordinates is guided towards common goals of enterprise. Directing involves

a) Leadership b) communication c) motivation d) Supervision