Management

 

Management is a process of planning, decision making, organizing, leading, motivation and controlling the human resources, financial, physical, and information resources of an organization to reach its goals in effective and efficient manner.

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 is coordination and administration of tasks to achieve a goal. Such administration activities include setting organization strategy and coordinating the efforts of staff to accomplish these objectives through the application of available resources.

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Functions Of Management

Functions of management are planning, organizing, staffing, directing, and controlling.

1. Planning: Planning is the basic function of management. Planning is deciding in advance- what to do, when to do, and how to do it. Planning bridges the gap from where we are and where we want to be. A plan is a future course of action. Therefore, planning is systematic thinking about ways and means for accomplishment of pre-determined goals.

2. Organizing: Organizing is a process of bringing together physical, financial and human resources and developing productive relationship amongst them for achievement of organizational goals.

3. Staffing: Staffing is a function of manning the organization structure and keeping it manned. It has assumed greater importance in the recent years due to advancement of technology, increase in size of the business, complexity of human behavior etc.  244

4. Directing: Directing is that part of managerial function which actuates organizational methods to work efficiently for achievement of organizational purposes. It is considered life-spark of the enterprise which sets it in motion the action of people because planning, organizing and staffing are the preparations for doing the work.

5. Controlling: Controlling the process of  checking weather or not proper progress is being made towards the objectives and goals and acting if necessary, to correct any deviation.