5 FUNCTIONS OF MANAGEMENT PRESENTED BY: NEW DELHI INSTITUTE OF MANAGEMENT
FIVE FUNCTIONS OF MANAGEMENT - Overview -
Planning means defining performance goals for the organization and determining what actions and resources are needed to achieve the goals.
Controlling is the process of monitoring activities, measuring performance, comparing results to objectives, and making modifications and corrections when needed.
Organizing involves assigning authority and responsibility to various departments, allocating resources across the organization, and defining how the activities of groups and individuals will be coordinated.
Commanding is the process where management give clear commands to its workforce so it can produce the desired output.
Coordination leads to synchronization throughout the organization which leads to increased productivity. Proper training and communication helps achieve a high level of coordination throughout the organization.
FIVE FUNCTIONS OF MANAGEMENT - Planning -
STEP 2 Develop tasks to meet those objectives.
STEP 3 Determine resources needed to implement tasks.
STEP 4 Create a timeline and determine tracking and assessment method. STEP 5
Develop objectives. Finalize plan.and distribute to all involved in the process.
FIVE FUNCTIONS OF MANAGEMENT - Organizing -
PROCESS OF ORGANIZING
Identification of Activities
Division of Activities
Group the activities into manageable units
Establishing Reporting Relationships
FIVE FUNCTIONS OF MANAGEMENT - Commanding -
Leadership- may be defined as a process by which manager guides and influences the work of subordinates in desired direction.
ELEMENTS OF COMMANDING
Motivation- means inspiring, stimulating or encouraging the subordinates with zeal to work. Positive, negative, monetary, nonmonetary incentives may be used for this purpose.
Supervision- implies overseeing the work of subordinates by their superiors. It is the act of watching & directing work & workers.
FIVE FUNCTIONS OF - Coordinating MANAGEMENT Coordination makes optimum utilization of resources
Coordination ensures smooth working of the organization. Therefore, with the help of coordination an organization can achieve its objectives easily and quickly.
Coordination helps to make optimum utilization of resources. These resources are used to achieve the objectives of the organization. Coordination also minimizes the wastage of resources in the organization.
FEATURES OF COORDINATING
Coordination helps to achieve objectives quickly
Coordination leads to higher efficiency
Since coordination leads to optimum utilization of resources it results in more returns and low cost. Thus, coordination leads to higher efficiency.
FIVE FUNCTIONS OF MANAGEMENT - Controlling -
Establishment of standard performance.
Measurement of actual performance.
Comparison of actual performance with the standards and finding out deviation if any.
There are four fundamental functions of management i.e. planning, organizing, controlling, commanding and coordination.