Functions of management

A brief discussion of the seven functions of management

1. Functions of management

2. Introduction Firms have goals to achieve. Some of these include: Maximising sales Earning profits Management is the process of achieving the major goals of a firm with the best use of available resources.

3. Functions of Management There are basically seven functions of management ( podccdm ) . Planning Organising Directing Controlling Coordinating Delegating Motivating

4. Planning - developing proposals for future activities and operations of the firm Analyse future strategies Deciding on the direction that the firm should t ake Preparing the resources that are needed

5. Organizing - ensuring that resources are in place at a particular time Grouping similar activities together Thinking ahead to decide who is going to do which job Fixing deadlines for jobs

6. Directing - developing goals and objectives , and giving instructions Once management knows what they want to achieve they communicate it to workers and attempt to get them to understand This is the only way that workers at all levels will know what is required

7. Controlling – establishing systems which monitor performance Performance is analysed to see if objectives are being achieved This allows problems to be detected and measures are put in place to reduce any problems

8. Coordinating – ensuring that all functional areas work cooperatively and support for each other If the marketing department wants to develop a new promotion they will have to liaise with the finance department to ensure funds are available

9. Delegating – giving responsibility for specific areas to subordinates Management cannot do everything and will have to give subordinates responsibilities for which they will be held accountable Management should receive reports from those who were delegated the authority

10. Motivating – encourage staff to do the jobs that management wants them to do Make the staff feel as though they want to do the job Provide incentives for employees (not only pay)