Functions of managment

After reading you will understand the basics of these powerful principles of management. Introduction the clas At the beginning of the last century the French engineer Henri Fayol created the first principles of management theory. Henri Fayol is classified as the founding father of for example the line and staff organization.

Functions of managment

Fayol originally set forth five management functions, but management book authors have condensed them to four: The fifth function was staffing. Planning Planning involves deciding where to take a company and selecting steps to get there.

It first requires managers to be aware of challenges facing their businesses, and it then it requires managers to forecast future business and economic conditions.

They then formulate objectives to reach by certain deadlines and decide on steps to reach them. They re-evaluate their plans as conditions change and make adjustments as necessary.

Planning helps allocate resources and reduce waste as well. Organizing Managers organize by bringing together physical, human and financial resources to achieve objectives. They identify activities to be accomplished, classify activities, assign activities to groups or individuals, create responsibility and delegate authority.

They then coordinate the relationships of responsibility and authority. Leading Leading requires managers to motivate employees to achieve business objectives and goals. It requires the use of authority to achieve those ends as well as the ability to communicate effectively.

Effective leaders are students of human personalities, motivation and communication. They can influence their personnel to view situations from their perspectives. Leading also involves supervision of employees and their work. Controlling Controlling is a function of management that involves measuring achievement against established objectives and goals.

It also requires managers to be able to identify sources of deviation from successful accomplishment and to provide a corrective course of action.

Managers first establish objectives and goals, then measure achievement of them, identify anything that is keeping the company from achieving them, and provide means of correction if necessary. Controlling does not necessarily involve achieving only monetary goals and objectives.

It can also relate to nontangible goals and objectives like meeting a production quota or reducing customer complaints by a certain amount.Jun 23,  · Learn more about the Five Functions of Management by Henri Fayol to understand the scientific principles of management in a practical way.

Read r-bridal.coms: Watch video · Controlling is the final function of management in which the manager, once a plan has been carried out, evaluates the results against the goals. If a . Controlling is a function of management that involves measuring achievement against established objectives and goals.

It also requires managers to be able to identify sources of deviation from.

Functions of managment

The management functions of planning, organizing, leading, and controlling are widely considered to be the best means of describing the manager’s job, as well as the best way to classify accumulated knowledge about the study of management.

Mar 18,  · Five Functions of Management There are more functions of management than the ones listed below, but these are considered the most important. Learning how to balance each of these is the key to effective management within a r-bridal.com: Ryan.

Jun 30,  · Planning actions as a function evaluates the goals of the company and then sets a course for success. This function evaluates the existing activities and goals.

Defining the Functions of Management | HuffPost