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Management is necessary for a well-organized life and the operation of all types of businesses. This can be achieved if we are aware of the functions of management. These functions help companies move closer to their objectives.
If you are wondering what are the functions of management, look no further. We have listed down the functions in detail here. So, keep scrolling!
But first, what is Management?
Management is a process comprising various principles to achieve organizational goals. Talking about organizations, a business, a school, a city, a group of volunteers, or any government entity can be considered an organization.
If you are an aspiring manager, learn that you can achieve an objective by utilizing all the resources efficiently. However, this is only possible when you work with the elements of management, known as the functions of management.
What are the functions of Management?
Henry Fayol, a french industrialist, worked on developing a framework to study management. He was also known as the Father of Modern Management for giving the 5 functions of management. These include:
Now, let us learn all these functions in detail.
The first and one of the important functions of management is planning. In any organization, planning takes place in a variety of ways and at all levels.
A top-level manager plans for different events than a manager who supervises a group of workers. These workers, in turn, are responsible for their functions.
For example, the plant manager is responsible for the plant’s overall operations, whereas the assembly-line manager is in charge of the line that he or she supervises.
Setting organizational goals could be part of the planning process. The higher-level managers take care of this process. Subsequently, the manager develops strategies for achieving those goals as part of the planning process.
Now, the planning process can further be categorized into three types. These include:
- Strategic planning- It refers to the long-term planning that is the responsibility of the company’s top executives. Strategic planning includes decisions such as who the customer or clientele should be, what products or services to sell, and where to sell these products and services.
- Tactical planning- It is the process of developing detailed strategies about what needs to be done, who should do it, and how it should be done. Consequently, this planning benefits the lower-level managers in determining the tasks.
- Contingency planning- We live in a volatile market with cut-throat competition. So, you need to adapt to the rapid changes in the market, and that’s where contingency planning comes into the picture. When the primary plans developed do not meet the organization’s goals, contingency planning provides an alternative course of action.
Second, on the list of the functions of management isOrganizing. Organizing is the process of allocating work, authority, and resources among the members of an organization in order to achieve the objectives. It gives a proper shape to the structure that will help you carry out the plan smoothly and successfully.
As a manager, you will be creating a framework that connects all workers, tasks, and resources. As a result, you will be able to meet the organizational goals with the organizing process.
You should group various activities to achieve the goals and assign them to individuals in groups or departments. Additionally, identify and delegate the authority, responsibility, and accountability required to carry out the plan at each level.
Management’s staffing function entails identifying/selecting the appropriate person to carry out each task.
To complete the task effectively and efficiently, the staffing function includes all jobs related to recruitment, selection, training, placement, remuneration appraisal, promotion, and career planning of human resources in the organization.
The directing function of management includes supervising or leading employees to achieve the set targets. In addition to this, the role includes assigning tasks, assisting employees in completing tasks, interpreting organizational policies, and informing employees about their performance.
In order to effectively carry out this function, you must possess leadership abilities to motivate employees to perform well. It should be evident that you must find a way to get workers to do their jobs due to the nature of the directing function of management.
Additionally, there are numerous theories about how to get you to perform effectively and efficiently. You can refer those if you need help carrying out this function.
The controlling function of management encompasses a wide range of activities. It is the process of determining whether or not the company’s goals and objectives have been met.
As a manager, you must perform activities to evaluate tasks as part of the controlling function of management. To make the process easier, you can follow these steps:
- First, establish performance standards for your employees.
- Second, communicate these standards to the managers who supervise workers. The workers should know about these standards too, so they are aware of the expectations.
- Third, monitor performance to ensure that the standards are being met after they have been established and communicated.
If the work doesn’t go as planned, you should be able to figure out where the delays are occurring. After identifying the problems, you must take action to correct the outcomes. Remember the delays can happen due to various factors. So, work with the employees to figure out the loopholes and rectify those.
- Management refers to carrying out various activities to achieve the objectives of an organization.
- There are 5 functions of management as classified by Henry Fayol. These include planning, organizing, staffing, directing, and controlling.
- You can study these management functions if you aspire you become a manager. There are various degrees/courses available for the same offered by top universities.
- Remember, it is necessary to focus on and deal with each function separately to meet the set targets.
We hope we could give you enough information about the 5 functions of management through this blog. If you feel we should add more here, do share with us. You can drop a comment below or reach out to us for the same.
Till then, keep learning!
Q1. What are the five most important functions of management a candidate must know about?
Answer – The 5 functions of management include:
Q2. Why is it important to study the functions of management?
Answer- In order to succeed as a manager, you must have a thorough understanding of the various management functions. This is a good indicator of your efficiency and effectiveness, which are important in achieving organizational objectives.
Q3. What is the most important management function, and why?
Answer- While all the functions are crucial for success, the most important function of management is planning. It is where all the other functions begin. In fact, planning determines the management’s goal. Besides this, it also determines how to achieve the set goals.