Question

Explain the various functions of management.

Answer 1

• Main Functions:

1. Planning: Planning is the primary function of management. Planning is a constructive review of future needs so that present actions can be adjusted in view of the established goal.
2. Organizing: Organising is the process of establishing harmonious relationships among the members of an organization and the creation of a network of relationships among them.
3. Staffing: The staffing function comprises the activities of selection and placement of competent personnel.
4. Directing: Directing denotes motivating, leading, guiding, and communicating with subordinates on an ongoing basis in order to accomplish pre-set goals.
5. Controlling: Controlling is performed to evaluate the performance of employees and deciding increments and promotion decisions.
6. Co-ordination: Co-ordination is the synchronization of the actions of all individuals, working in the enterprise in different capacities.
7. Motivating: The goals are achieved with the help of motivation. Motivation includes increasing the speed of performance of a work and developing a willingness on the part of workers.

• Subsidiary Functions:

1. Innovation: Innovation includes developing new materials, new products, new techniques in production, new package, the new design of a product, and cost reduction.
2. Representation: A manager has to act as a representative of a company. It is the duty of every manager to have good relations with others.
3. Decision-making: Every employee of an organization has to take a number of decisions every day. Decision-making helps in the smooth functioning of an organization.
4. Communication: Communication is the transmission of human thoughts, views, or opinions from one person to another person. Communication helps the regulation of the job and co-ordinates the activities.