Management Functions

Management Functions

1. Management Dr. Sumit Kumar Singh

2. DEFINITION According to Harold Koontz, “Management is an art of getting things done through and with the people in formally organized groups. It is an art of creating an environment in which people can perform and individuals and can co-operate towards attainment of group goals”.

3. Concept of management

4. LEVELS OF MANAGEMENT

5. The Top Management It consists of board of directors, chief executive or managing director. The top management is the ultimate source of authority and it manages goals and policies for an enterprise. It devotes more time on planning and coordinating functions.

6. Middle Level Management The branch managers and departmental managers constitute middle level. They are responsible to the top management for the functioning of their department. They devote more time to organizational and directional functions.

7. Lower Level Management Lower level is also known as supervisory / operative level of management. It consists of supervisors, foreman, section officers, superintendent etc. In other words, they are concerned with direction and controlling function of management.

8. FUNCTIONS OF MANAGEMENT According to George & Jerry, “There are four fundamental functions of management i.e. planning, organizing, actuating and controlling ”. According to Henry Fayol, “To manage is to forecast & plan, to organize, to command, and to control ”. Whereas Luther Gullick has given a keyword ‘POSDCORB’ where P stands for Planning , O for Organizing, S for Staffing , D for Directing , Co for Co-ordination , R for reporting & B for Budgeting .

9. Planning This essentially refers to establishing a broad sketch of the work to be completed and the procedures incorporated to implement them. Planning is deciding in advance – what to do, when to do & how to do. It is an exercise in problem solving & decision making. Planning is determination of courses of action to achieve desired goals.

10. Organizing Organizing involves formally classifying, defining and synchronizing the various sub-processes or subdivisions of the work to be done. It is the process of bringing together physical, financial and human resources and developing productive relationship amongst them for achievement of organizational goals. To organize a business involves determining & providing human and non-human resources to the organizational structure.

11. Staffing Staffing has assumed greater importance in the recent years due to advancement of technology, increase in size of business, complexity of human behaviour etc. This involves recruiting and selecting the right candidates for the job and facilitating their orientation and training while maintaining a favourable work environment. Managerial function of staffing involves manning the organization structure through proper and effective selection, appraisal & development.

12. Directing This entails decision making and delegating structured instructions and orders to execute them. 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.

13. Coordinating This basically refers to orchestrating and interlinking the various components of the work. It is the task in the organisation to connect different sections and to achieve cooperation. It is the task to synchronise different departments and to bring them together with the right end goal in mind.

14. Reporting Reporting involves regularly updating the superior about the progress or the work related activities. The information dissemination can be through records or inspection. A clear report keeps communication open throughout the entire organisation.  Reporting provides insight into the progress and agreements can also be recorded in this way.

15. Budgeting Budgeting involves all the activities that under Auditing, Accounting, Fiscal Planning and Control. In addition to employee wages, it is the to also properly monitor other expenditures such as materials and investments. If wasteful spending, overruns, errors or even fraud are discovered, the manager is responsible for taking action.

16. Summary POSDCORB is a system in managing where workforce and recruits can be proficient in a manner that would be profitable for a business purpose. POSDCORB ensures effective and efficient functioning of the organization/institution. POSDCORB model helps organization to divide the work into several dealings and provision in getting utmost value out to every staff. These stages and footsteps of this ethics support the human resources to provide to the requirements of an industry.