Q.1 (a) What are the functions of management? In your opinion which function is more important and why? Management has been described as a social process involving responsibility for economical and effective planning & regulation of operation of an enterprise in the fulfillment of given purposes. It is a dynamic process consisting of various elements and activities. These activities are different from operative functions like marketing, finance, purchase etc. Rather these activities are common to each and every manger irrespective of his level or status.
Planning
It is the basic function of management. It deals with chalking out a future course of action & deciding in advance the most appropriate course of actions for achievement of pre-determined goals. According to KOONTZ, “Planning is deciding in advance – what to do, when to do & how to do. It bridges the gap from where we are & where we want to be”. A plan is a future course of actions. It is an exercise in problem solving & decision making. Planning is determination of courses of action to achieve desired goals. Thus, planning is a systematic thinking about ways & means for accomplishment of pre-determined goals. Planning is necessary to ensure proper utilization of human & non-human resources. It is all pervasive, it is an intellectual activity and it also helps in avoiding confusion, uncertainties, risks, wastages etc.
The Essay on Planning Function within the Different Levels of Management in Organizations
... the actions designed and intended to achieve goals and objectives. Daft, 2000) As a fundamental management process, planning ... line management planning is short-term expectations and outcomes. Although differing in the nature of planning functions, strategic ... management handles operational planning because the focus is specific, measurable, tactical, and applicable plans covering daily activities ...
Organizing
It is the process of bringing together physical, financial and human resources and developing productive relationship amongst them for achievement of organizational goals. According to Henry Fayol, “To organize a business is to provide it with everything useful or its functioning i.e. raw material, tools, capital and personnel’s”. To organize a business involves determining & providing human and non-human resources to the organizational structure.
Staffing
It is the function of manning the organization structure and keeping it manned. Staffing has assumed greater importance in the recent years due to advancement of technology, increase in size of business, complexity of human behavior etc. The main purpose o staffing is to put right man on right job i.e. square pegs in square holes and round pegs in round holes. According to Kootz & O’Donell, “Managerial function of staffing involves manning the organization structure through proper and effective selection, appraisal & development of personnel to fill the roles designed un the structure”.
Directing
It is that part of managerial function which actuates the 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 mere preparations for doing the work. Direction is that inert-personnel aspect of management which deals directly with influencing, guiding, supervising, motivating sub-ordinate for the achievement of organizational goals.
Controlling
It implies measurement of accomplishment against the standards and correction of deviation if any to ensure achievement of organizational goals. The purpose of controlling is to ensure that everything occurs in conformities with the standards. An efficient system of control helps to predict deviations before they actually occur. According to Theo Haimann, “Controlling is the process of checking whether or not proper progress is being made towards the objectives and goals and acting if necessary, to correct any deviation”. According to Koontz & O’Donell “Controlling is the measurement & correction of performance activities of subordinates in order to make sure that the enterprise objectives and plans desired to obtain them as being accomplished. Planning is more important because, The first function of the Manager is planning.
The Business plan on Organizational Planning 2
Bank of America is one of the world’s largest leading financial institutions and ranks 21st in the Fortune 500 (Fortune 500, 2013). In this paper, I will go over a strategic and operational plan for Bank of America based on a SWOT analysis. These plans will seize opportunities, build on strengths, minimize weaknesses, and counteract threats found in the SWOT analysis. Organizational Planning Bank ...
It is also the foremost and the essential function. Planning equips the Manager mentally to meet his tasks. To plan for the organization the Manager should first understand the culture and creed of the Organization, what it stands for what are its objectives. The Manager should study the resources available within the organization, as also the strength and weakness of the Organization. n the next phase the Manager should perceive the environment outside the organization and assess correctly the opportunities it provides and the challenges it poses. Planning involves selecting missions and objectives and the actions to achieve them. It also consists of policies, procedures, methods, budgets, strategy and programmes that are needed to achieve the goals set. Decision-making is the most important and integral part of planning
