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18 views7 pages

Management

D

Uploaded by

sahilas3319
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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What is Management?

Management is essential for an organized life and necessary to run all types of
management. Good management is the backbone of successful 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.

Whether management is an art or science, will continue to be a subject of debate.


However, most management thinkers agree that some form of formal academic
management background helps in managing successfully

Management is a set of principles relating to the functions of planning, organizing,


directing and controlling, and the application of these principles in harnessing
physical, financial, human, and informational resources efficiently and effectively
to achieve organizational goals.

According to F.W. Taylor, „ Management is an art of knowing what to do when to


do and see that it is done in the best and cheapest way „.
According to Harold Koontz, ‘Management is an art of getting things done through
and with the people in formally organized groups. It is an art of creating an
environment in which people can perform and individuals and can co-operate
towards attainment of group goals.‘
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
hence the controlling function can be broken into these three separate functions.
Based upon these seven functions, Luther Gulick coined the word POSDCORB,
which generally represents the initials of these seven functions i.e. P stands for
Planning, O for Organizing, S for Staffing, D for Directing, Co for Co-ordination, R
for reporting & B for Budgeting.
But, Planning, Organizing, Staffing, Directing, and Controlling are widely
recognized functions of management.
(1) Planning
Planning is future-oriented and determines an organization’s direction. It is a
rational and systematic way of making decisions today that will affect the future of
the company. It is a kind of organized foresight as well as corrective hindsight. It
involves predicting of the future as well as attempting to control the events. It
involves the ability to foresee the effects of current actions in the long run in the
future.

Peter Drucker has defined planning as follows:


“Planning is the continuous process of making present entrepreneurial decisions
systematically and with best possible knowledge of their futurity, organizing
systematically the efforts needed to carry out these decisions and measuring the
results of these decisions against the expectations through organized and systematic
feedback”.
An effective planning program incorporates the effect of both external as well as
internal factors. The external factors are shortages of resources; both capital and
material, general economic trend as far as interest rates and inflation are concerned,
dynamic technological advancements, increased governmental regulation regarding
community interests, unstable international political environments, etc.

The internal factors that affect planning are limited growth opportunities due to
saturation requiring diversification, changing patterns of the workforce, more
complex organizational structures, decentralization, etc

(2) Organizing
Organizing requires a formal structure of authority and the direction and flow of
such authority through which work subdivisions are defined, arranged, and
coordinated so that each part
relates to the other part in a united and coherent manner so as to attain the
prescribed objectives.

According to Henry Fayol, “To organize a business is to provide it with everything


useful or its functioning i.e. raw material, tools, capital and personnel‟s”.
Thus the function of organizing involves the determination of activities that need to
be done in order to reach the company goals, assigning these activities to the proper
personnel, and delegating the necessary authority to carry out these activities in a
coordinated and cohesive manner.

It follows, therefore, that the function of organizing is concerned with:


1. Identifying the tasks that must be performed and grouping them whenever
necessary
2. Assigning these tasks to the personnel while defining their authority and
responsibility.
3. Delegating this authority to these employees
4. Establishing a relationship between authority and responsibility
5. Coordinating these activities

(3) Staffing
Staffing is the function of hiring and retaining a suitable work-force for the
enterprise both at managerial as well as non-managerial levels. It involves
the process of recruiting, training, developing, compensating, and evaluating
employees and maintaining this workforce with proper incentives and motivations.
Since the human element is the most vital factor in the process of management, it is
important to recruit the right personnel.

According to Kootz & O’Donnell, “Managerial function of staffing involves


manning the organization structure through the proper and effective selection,
appraisal & development of personnel to fill the roles designed in the structure”.
This function is even more critically important since people differ in their
intelligence, knowledge, skills, experience, physical condition, age, and attitudes,
and this complicates the function. Hence, management must understand, in addition
to the technical and operational competence, the sociological and psychological
structure of the workforce.

(4) Directing
The directing function is concerned with leadership, communication, motivation,
and supervision so that the employees perform their activities in the most efficient
manner possible, in order to achieve the desired goals.

The leadership element involves issuing instructions and guiding the subordinates
about procedures and methods.
The communication must be open both ways so that the information can be passed
on to the subordinates and the feedback received from them.
Motivation is very important since highly motivated people show excellent
performance with less direction from superiors.
Supervising subordinates would lead to continuous progress reports as well as
assure the superiors that the directions are being properly carried out.

(5) Controlling
The function of control consists of those activities that are undertaken to ensure that
the events do not deviate from the pre-arranged plans. The activities consist of
establishing standards for work performance, measuring performance and
comparing it to these set standards, and taking corrective actions as and when
needed, to correct any deviations.

According to Koontz & O’Donnell, “Controlling is the measurement & correction


of performance activities of subordinates in order to make sure that the enterprise
objectives and plans desired to obtain them as being accomplished”.
The controlling function involves:
a. Establishment of standard performance.

b. Measurement of actual performance.

c. Measuring actual performance with the pre-determined standard and finding out
the deviations.

d. Taking corrective action.

All these five functions of management are closely interrelated. However, these
functions are highly indistinguishable and virtually unrecognizable on the job. It is
necessary, though, to put each function separately into focus and deal with it.

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