Definition of Management
"To manage is to forecast and plan, to organise, to command, to co-ordinate
and
to control."
- Henry Fayol
"Management is a distinct process consisting of planning, organising, activating
and controlling to determine and accomplish the objectives by the use of
people
and resources."
- G.R. Terry
"Management is the development of people and not the direction of things.
Management is the personnel administration."
- Lawrence A. Apply
"Management is the art of getting things done through and with the people in
formally organised groups."
- Horold Kanontz
Definition of Management
"To manage is to forecast and plan, to organise, to command, to co-ordinate
and
to control."
- Henry Fayol
"Management is a distinct process consisting of planning, organising, activating
and controlling to determine and accomplish the objectives by the use of
people
and resources."
- G.R. Terry
"Management is the development of people and not the direction of things.
Management is the personnel administration."
- Lawrence A. Apply
"Management is the art of getting things done through and with the people in
formally organised groups."
- Horold Kanontz
"Management is simply the process of decision making and control over the
action of human beings for the express purpose of attaining pre-determined
goals."
- Stanley Vance
Five Functions of Management
Planning
Organizing
Staffing
Directing
Controlling
Planning
Deciding in advance what to do, how to do it, why to do it, where to do it, and
who will be responsible for doing so is planning. Determining the objectives of
the business, breaking down these objectives into goals for each department,
and formulating policies, programmes, procedures, rules, regulations, and
budgets are key steps involved in planning.
Importance of Planning
provides directions
reduces the risks of uncertainty
reduces overlapping and wasteful activities
promotes innovative ideas
facilitates decision making
establishes standards for controlling
Organizing
Division of work into functions and sub-functions, grouping of activities that
are closely related in their nature, assigning of duties and responsibilities to
the employees and finally delegation of authority and power to each employee
or the group to discharge their duties accordingly are the processes come
under the function of management organizing.
Importance of Organizing
helps organizations to reap the benefit of specialization.
provides for Optimum utilization of resources.
helps in Effective administration.
channels for Expansion and growth.
achieves co-ordination among different departments.
creates scope for new change.
Directing
Directing is guiding and leading the people in an organization. Directing means
giving instructions, guiding, counselling, motivating and leading the staff in an
organization in doing work to achieve organizational goals. From top executive
to supervisor performs the function of directing and it takes place accordingly
wherever superior – subordinate relations exist. Directing is a
continuous process initiated at top level and flows to the bottom through
organizational hierarchy
channels for Expansion and growth.
achieves co-ordination among different departments.
creates scope for new change.
Directing
Directing is guiding and leading the people in an organization. Directing means
giving instructions, guiding, counselling, motivating and leading the staff in an
organization in doing work to achieve organizational goals. From top executive
to supervisor performs the function of directing and it takes place accordingly
wherever superior – subordinate relations exist. Directing is a
continuous process initiated at top level and flows to the bottom through
organizational hierarchy.
Importance of Directing
initiates actions to get the desired results in an organization.
attempts to get maximum out of employees by identifying their
capabilities.
is essential to keep the elements like Supervision, Motivation, Leadership
and Communication effective.
ensures that every employee work for organizational goals.
Coping up with the changes in the organization is possible through
effective direction.
Stability and balance can be achieved through directing.
Staffing
Staffing is that part of the process of management which is concerned
with acquiring, developing, employing, appraising, renumerating
and retaining people so that right type of people are available at right
positions and at right time in the organization. In the simplest terms,
staffing is ‘putting people to jobs’
Importance of Staffing
Filling the organizational positions
Developing competencies to challenges
Retaining personnel - professionalism
Optimum utilization of the human resources
Controlling
It is the process that ensures whether the resources are
obtained and used efficiently in achieving the organizational
objectives. Controlling function of management is closely linked with
the planning function because, it includes checking the performance of
employees to see whether the planned performance is being achieved
by them or not. Budgetary control, Inventory control, quality control,
profit and loss control, Management audit, cost accounting and cost
control, production control, financial control, break-even analysis and
internal audit control are the important control devices of controlling
techniques.