Management Function

Author : Prabhu TL
Publisher : NestFame Creations Pvt Ltd.
ISBN 13 :
Total Pages : 67 pages
Book Rating : 4./5 ( download)

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Download or read book MANAGEMENT FUNCTION written by Prabhu TL and published by NestFame Creations Pvt Ltd.. This book was released on with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: Management in some form or another is an essential part of living and is required whenever human efforts are required to achieve desired goals. When it comes to running a business or a household, the same principles of management apply. A set of principles relating to the functions of planning, organising, directing and controlling and the applications of these principles in harnessing physical, financial, human, and informational resources efficiently and effectively to achieve organisational goals constitutes management.." With so many of us now working from home, the new work-from-home routine has presented a number of challenges for management. Coordinating with employees, keeping track of their progress via email, and working together digitally takes a lot of effort and time. Virtual meet-ups are now the norm in the workplace, and they're becoming more common. Everyone is adapting to this new way of working, even though it has been difficult. Ultimately, we must work tirelessly to achieve our personal and professional objectives. Whether at home or at work, every organisation aims to achieve short- and long-term objectives. However, how do you ensure that the roles and responsibilities, deliverables, and deadlines are clearly defined and understood? Fayol's management theory comes into play in this situation. Planning, organising, staffing, directing, and controlling are all included in the theory's definition of management's five main responsibilities. In order for an organisation to be successful, each of these functions is critical. It was after Luther Gulick took over as Fayol's successor that Gulick defined the seven POSDCORB functions of management—planning and organising; staffing; managing; directing; coordinating; budgeting; and reporting. Experts have criticised Gulick's seven management functions as an oversimplification of the process. Even today, Fayol's management functions are more widely accepted. To achieve organisational objectives, a manager must be proficient in each of these five functions. In order to better understand how management functions can improve the daily operations of an organisation, we'll take a closer look at them. As part of our discussion, we'll also look at how they can assist you in becoming a better manager. WHAT ARE THE FUNCTIONS OF MANAGEMENT? Management is the ability to lead, direct, and control an organization's operations and people without imposing one's own authority. Managers must work with their teams to achieve larger goals in a world where a more informal working structure is becoming increasingly popular. To get your feet wet as a manager, it's a good idea to familiarise yourself with the functions of management first. Management functions keep you up to date on what you need to do and how you need to do it so that you can direct your employees accordingly. The planning phase of your managerial process is at hand. In other words, you'll first assess your objectives, define your purpose, and visualise what needs to be accomplished. As a result, one must be able to analyse historical data and forecast future trends. If you are able to get to your final destination without exceeding your budget or missing your deadlines, then the function has been a success.