day with the basic management functions as they are introduced. To identify levels of management. Planning includes both the broadest view of the organization, e.g., its mission, and the narrowest, e.g., a tactic for accomplishing a specific goal. Functions Of Management 1. It bridges the gap from where we are & where we want to be. See our Privacy Policy and User Agreement for details. By principle, there are FIVE (5) Functions of Management that made up the management process. It is a kind of organized foresight as well as corrective hindsight. It is the basic function of management. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. According to Harold Koontz, “Management is an art of getting things done through … In such cases, a more broader term is used – marketing research. ACCORDING TO F.W. The five main functions of management. It encompasses formulating policies, establishing targets, scheduling actions and so forth. TOPIC:FUNCTIONS OF MANAGEMENT PRESENTATION BY: ZOHRA RUBAB 2. Therefore, each of the five basic management functions must change when operating in a foreign market. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. 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. 10 Likes. Namely, these are: Planning, Organizing, Staffing, Coordinating, and Controlling. Functions of Management Management It includes: Management of business and profit making private and government run organizations. It is a rational and systematic way of making decisions today that will affect the future of the company. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. Management is a universal phenomenon. 2 Management Functions Henri Fayol, who was a managing director (CEO) of a large steel company, was one of the founders of the field of management. Moreover, he has to prepare the necessary procedures to implement the plan effectively. Upload; Login; Signup; Submit Search. Now customize the name of a clipboard to store your clips. The above functions of management are common to all business enterprises as well as to organizations of other fields, but the manner in which these are carried out will not be the same in different organizations. Staffing 4. Efficiency is using the least possible amount of resources to get work done, whereas effectiveness is the ability to produce a desired result. A manager need to operate various functions to acquire organizational goal. 3 Managers need to be both efficient and effective in order to achieve organizational goals. The Functions of Management Introduction: Planning, organizing, leading and controlling (POLC) are the four basic processes or functions of management that constitute the entire work of management. 2. The functions are: 1. Management Functions • Directing – Motivation – Communication – Performance appraisal – Discipline – Conflict resolution. Looks like you’ve clipped this slide to already. Controlling These are; 1. For more lessons on OAM, please e-mail me at 5. You’ll learn more about Fayol and management’s other key contributors when you read about the history of management in Chapter 2. 1. Planning , organising, staffing, directing and controlling. Below, we'll discuss all of functions of management. Functions of management 1. See our User Agreement and Privacy Policy. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. An accounting system is maintained in an organization which should cover standards of costs, sales forecast, production planning, profit planning, allocation of resources, capital budgeting and short term and long term financial planning. If you continue browsing the site, you agree to the use of cookies on this website. It is a very popular and widely used term. "- G.R. To Define management. There are various project management functions and some of the most notable, that Sinnaps integrates into its Software are the following… Project Management Functions Scope The project scope is a part […] First stage in any product development is market researchwhich is done to assess the potential demand and growth expectations in the market. Improve. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. Planning is the function that aims at strategizing the system for the smooth working of the business or an organization as a whole. Mr.Yes! - Henry Fayol … SMART LEARNING -SEE YOUR WORLD IN DIFFRENT WAY, No public clipboards found for this slide. Terry DEFINITION OF MANAGEMENT "To manage is to forecast and plan, to organise, to command, to co-ordinate and to control." DEFINITIONS, TITLES, AND OTHER INTANGIBLES Management, Manage, Manager In attempting to define a concept, especially one that is often expressed in a single word, the dictionary is as good a place as any to begin. 0 Number of Embeds. Project Management Planning. 08/01/2012 05:56 pm ET Updated Oct 01, 2012 There are several different processes of management, but four old-fashioned, but key functions that provide the "technology of management" are identified as: Planning, Organizing, Motivating, and Controlling. O SlideShare utiliza cookies para otimizar a funcionalidade e o desempenho do site, assim como para apresentar publicidade mais relevante aos nossos usuários. functions of management. Planning , organising, staffing, directing and controlling. 01. All these functions constitute the job of a manager, and the relative importance of each of them varies from time to time. 106 Actions. to decide beforehand what is to be done in future. According to KOONTZ, Planning is deciding in advance - what to do, when to do & how to do. Management Functions • Controlling – Establishing standards based upon objectives – Measuring and reporting performance – Comparing the two – Taking corrective/preventive action – Directing. Organizing 3. Functions of Management