Management has been described as a social process involving responsibility for economical and effective planning & regulation of operation of an enterprise in the fulfillment of given purposes. It is a dynamic process consisting of various elements and activities. These activities are different from operative functions like marketing, finance, purchase etc. Rather these activities are common to each and every manger irrespective of his level or status.

Different experts have classified functions of management. According to George & Jerry, “There are four fundamental functions of management i.e. planning, organizing, actuating and controlling”.

According to Henry Fayol, “To manage is to forecast and plan, to organize, to command, & to control”. Whereas Luther Gullick has given a keyword ’POSDCORB’ where P stands for Planning, O for Organizing, S for Staffing, D for Directing, Co for Co-ordination, R for reporting & B for Budgeting. But the most widely accepted

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Photo by: George Muresan

The functions of management uniquely describe managers’ jobs. The
most commonly cited functions of management are planning, organizing,
leading, and controlling, although some identify additional functions. The
functions of management define the process of management as distinct from
accounting, finance, marketing, and other business functions. These
functions provide a useful way of classifying information about
management, and most basic management texts since the 1950s have been
organized around a functional framework.

DEVELOPMENT OF THE FUNCTIONAL

APPROACH TO MANAGEMENT

Henri Fayol was the first person to identify elements or functions of
management in his classic 1916 book

Administration Industrielle et Generale.

Fayol was the managing director of a large French coal-mining firm and
based his book largely on his experiences as a practitioner of management.
Fayol defined five functions, or elements of management: planning,
organizing, commanding, coordinating, and controlling. Fayol argued that
these functions were universal, in

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Management in some form or another is an integral part of living and is essential wherever human efforts are to be undertaken to achieve desired objectives. The basic ingredients of management are always at play, whether we manage our lives or business.

“Management is a set of principles relating to the functions of planning, organizing, directing, and controlling, and the applications of these principles in harnessing physical, financial, human, and informational resources efficiently and effectively to achieve organizational goals”.

management_functions

Management is essential for an organized life and necessary to run all types of organizations. Managing life means getting things done to achieve life’s objectives and managing an organization means getting things done with and through other people to achieve its objectives.

There are basically five primary functions of management. These are:

1. Planning
2. Organizing
3. Staffing
4. Directing
5. Controlling

The controlling function comprises coordination, reporting, and budgeting, and

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Definition: Management can be defined as the process of administering and controlling the affairs of the organization, irrespective of its nature, type, structure and size. It is an act of creating and maintaining such a business environment wherein the members of the organization can work together, and achieve business objectives efficiently and effectively.

Management acts as a guide to a group of people working in the organization and coordinating their efforts, towards the attainment of the common objective.

In other words, it is concerned with optimally using 5M’s, i.e. men, machine, material, money and methods and, this is possible only when there proper direction, coordination and integration of the processes and activities, to achieve the desired results.

Characteristics of Management

  • Universal: All the organizations, whether it is profit-making or not, they require management, for managing their activities. Hence it is universal in nature.
  • Goal-Oriented: Every organization
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Workplaces depend on the strength of those in management positions. In addition to directing employees, managers must communicate with more senior professionals in their company to ensure the team meets goals and furthers the company’s mission. Although the duties of managers differ based on their industry and workplace, most fulfill the same basic responsibilities. In this article, we discuss what management is, the operations of management and how you can become a good manager.

What is management?

Management is the coordination and administration of tasks to achieve a goal. Such administration activities include setting the organization’s strategy and coordinating the efforts of staff to accomplish these objectives through the application of available resources. Management can also refer to the seniority structure of staff members within an organization.

To be an effective manager, you’ll need to develop a set of skills, including planning, communication, organization and leadership. You will also need

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