Basic Functions of Management – Once you have understood the definition of management, you need to understand the basic functions of management.
Basic functions of management are describing as the planning, organizing, classifying, directing or controlling and also motivating the efforts of the employees to achieve the goals and objective of the organization.
For your information, management is an act of getting people together in order to achieve the desired goal.
Management in the business world is the act of getting people together to accomplish desired goals and objectives by using available resources efficiently and effectively.
Management also operates through various functions such as planning, organizing, staffing, leading/directing, controlling/monitoring, and motivating.
Basic Functions of Management
The first function is planning. Planning involves deciding where to take the company and determining steps to get there.
This requires managers to be aware of the challenges facing their businesses, and to forecast future business and economic conditions.
Then, they need to formulate objectives to reach by certain deadlines. Then, they also have to re-evaluate their plans as conditions change and make adjustments. Planning will help allocate resources and reduce waste as well.
The second basic function of management is organizing. This function is needed to bring together physical, human, and financial resources to achieve objectives.
Managers identify activities to be accomplished, classify activities, assign activities to groups or individuals, create responsibility, and delegate authority.
The next one is leading. This requires managers to motivate employees to achieve business objectives and goals.
This requires the use of authority to achieve those ends as well as the ability to communicate effectively. Leading also involves supervision of employees and their work.
The last basic function of management is controlling. This involves measuring achievement against established objectives and goals.
This also requires managers to be able to identify sources of deviation from successful accomplishment and to provide a corrective course of action.
Controlling does not necessarily involve achieving only monetary goals and objectives.
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