Management functions:

1. Planning

Planning is the most fundamental and the most pervasive of all management functions. Henning
and LeBreton define a plan as a predetermined course of action and the planning function
as the core function on which all executive functions are dependent.
If people working in groups have to perform effectively, they should know in advance what is to
be done, what activities they have to perform in order to do what is to be done, and when it is to
be done. Planning is concerned with what, how, and when of performance. It is deciding in
the present about the future objectives and the courses of action for their achievement. It thus
involves:
a) determination of long and short-range objectives;
b) development of strategies and courses of actions to be followed for the achievement of
these objectives; and
c) formulations of policies, procedures, and rules, etc., for the implementation of strategies
and plans.
2. Organizing

Organizing involves identification of activities required for the achievement of enterprise

objectives and implementation of plans; grouping of activities into jobs; assignment of these
jobs and activities to departments and individuals; delegation of responsibility and authority for
performance. Organizing thus involves the following sub-functions:

1.
2.
3.
4.
5.

Identification of activities required for the achievement of objectives and implementation of

plans.
Grouping of activities so as to create self-contained jobs.
Assignment of jobs to employees.
Delegation of authority so as to enable them to perform their jobs and to command the
resources needed for their performance.
Establishment of a network of coordinating relationships.

3. staffing

Staffing is a continuous and vital function of management. Staffing has been recognized as a
distinct function of management. It comprises several sub-functions:
1. Manpower planning involving determination of the number and the king of personnel
required
2. Recruitment for attracting suitable number of potential employees to seek jobs in the
enterprise concerned.
3. Selection of the most suitable persons for the jobs under consideration.
4. placement, induction and orientation.

5. Transfers, promotion, termination and layoff.

6. Training and development of employees.
4. Directing

Directing is the function of leading the employees to perform efficiently and effectively, and
contribute their optimum to the achievement of organizational objectives. Jobs assigned to
subordinates have to be explained and clarified, they have to be provided guidance in job
performance and supervised, and they are to be motivated to contribute their optimum
performance with zeal and enthusiasm. The function of directing thus involves the following subfunctions;
1. Communication.
2. Motivation.
3. Leadership.

5. Coordinating

Coordinating is the function of establishing such relationships among various parts of the
organization that they all together pull in the direction of organizational objectives. It is thus the
process of tying together all the organizational decisions, operations, activities and efforts so as
to achieve unity of action for the accomplishment of organizational objectives.
6. Reporting

The Manager has to evaluate the performance of the employees and is supposed to submit a
report to the top Management. So that necessary corrective action can be taken.
7. Budgeting

The another major function of Management is to prepare budgets. The future expenses and in
comes are quantified in budgets
Features / Nature / Elements of Management:
1. Art as well as science

Management is both an art and a science. It is an art in the sense of possessing of managing skill
by a person. In another sense, management is the science because of developing certain
principles or laws which are applicable in a place where a group of activities are co-ordinated.

2. Management is an activity

Management is a process of activity relating to the effective utilization of available resources for
production. The term resources includes men, money, materials and machine in the
organization.
3. Management achieves pre-determined objectives

The objectives of an organization are clearly laid down. Every managerial activity results in the
achievement of objectives fixed well in advance.
4. Management is a factor of production

The factors of production includes land, labour, capital and entrepreneurs. Here, land refers to a
place where production is carried on. Labour refers to the paid employees of the organization
who are working in different levels as skilled, unskilled, semiskilled, manager, supervisor and the
like. Capital refers to the working capital as in the form of cash, raw materials and finished goods
and fixed capital as in the form of plant facilities and production facilities. These land, labor and
capital could not realize the organisations goals. The organization goals are achieved only when
these are effectively co-ordinated by the entrepreneur. An individual can do such type of job as
in the case of small businesses. In the case of big sized business units, co-ordination job is done
by the management. So, management is also treated as one of the factors of production.
5. Management aims at maximizing profit

The available resources are properly utilized to get desired results. The results should be the
maximizing profit or increasing profit by the economic function of a manager.
6. Decision-making

There are a number of decisions taken by the management everyday. Decision making arises
only when there is availability of alternative courses of action. The quality of decision taken by
the manager determines the organizations performance. The success or failure of an
organization depends upon the degree of right decision taken by the manager.
7. Management is a profession

Management is a profession because it possesses the qualities of a profession. A fund of

knowledge is imparted and transferred in this profession and the same is followed by
management. The established principles of management are applied in practice.

8.Universal application

The principles and practices of management are applicable not to any particular industry alone
but applicable to every type of industry. The practice of management is different from one
organization to another according to their nature.
9. Management is getting thing done

A manager does not actually perform the work but he gets things done by others. According to
Knootz and ODonnel. Management is the art of getting things done through and with people in
formally organized groups.
10. Management is needed at all levels

The functions of management are common to all levels of organization. The top executives
perform the functions of planning, organizing, directing, controlling and decision making. The
same functions are also performed by the lower level supervisor.
11. Leadership quality

Leadership quality is developed in the persons who are working in the top level management.
According to R.C. Davis, Management is the function of executive leadership everywhere.
Importance of Management
The existence of management ensures proper functioning and running of an enterprise.
Management can plan the activities to achieve the objectives and utilize the available resources
at minimum cost. The significance or importance of management is briefly explained below:
1.Management meet the challenge of change
In modern business world, there are frequent changes. The changes place the business in a
dangerous position. Only an efficient management can save the business from the dangers
brought in by the challenges.
2.Effective utilization of business
Management is an effective tool for the efficient utilization of available resources.
3.Innovation
New ideas are developed by the management and implemented in the organization. Better
performance is achieved through new ideas.
4.Stability

The fluctuations of business are Change in stabilized by the management. The fluctuations of
business are caused by the changing policy of the government, pressures on the part of
competitors and changing preferences of customers