Question

describe the functions of management. write 4 paragraph ... thanks

Answer 1

Answer - Before delving on the functions of Management, Let us first understand, what is a management?

1) Management comprises of group of people who are entrusted with the responsibility of managing and controlling resources 5 M's (Men, Material, Money, Machinery and Methods) to achieve a desired goal or pre-determined objective. It is an administration of the organization which can be a company run for profit, a non-profit organization or a government authority. Here, it is important to note that management uses the different resources and brings them together to achieve the commong goals.

2) There are various levels of Management - namely -

1) Low Level Management - which includes the workers, staff, labours, foreman, front line team. They are entrusted with the responsibility of executing the tasks and projects given to them.

2) Middle Level Management - comprises of Managers, Regional manager, Branch Manager etc. Their responsibility is to ensure that low level management is provided resources and strategic directions to achieve the goals on time.

3) Top Level Management - This is the top run of an organization. They are responsibile for laying down the targets, objectives, budgets, goals, policies and procedures and is accountable to the shareholders and other stakeholders of the company.

3) The Functions of Management includes :-

Henri Fayol was the first person to recognise the functions of Management. The following are presented below: -

1) Setting out an objective - At the very first step there lies a responsibility to set out a Target, a Goal, an Objective towards which the organization would be mobilizing its resources for the coming year. The goals are revisited, discussed and modified based on changes in external and/or internal circumstances.

2) Planning - 'If you fail to Plan, you plan to Fail' - This underlines the importance of planning. Taking account of the Company's Strengths and weaknesses and the resources required to achieve the goal as well as the challenges that the company would have to overcome and planning for them well in advance and also to keep a reserve of contingencies that may arrive. A very recent example is of being hit by Coronavirus (sudden pandemic) shaking the entire world. The office had to be shut down and the companies who already had arrangement of Work from home could still continue their business as opposed to the one who were hit by surprise. It is an ongoing activity. It basically comprises of Who, what, why, when, where regarding the goals achievement.

1) Who is required to do what?

2) Why choosing option A over B (Example leasing over buying).

3) When the timeline needs to be met? etc.

Planning is also done on 3 levels :-

1) Strategic Planning - The management takes into account the threats around the company with respect to its external environment (Change in Government, Change in policies, International regulations etc. and Internal environment ( Labour strikes, cost of raw material, human resources etc.) and prepare policies and procedures to effectively position the company to deal with them.

2) Tactical Plannning - The management decides on the strategies on how it can effectively achieve its goals, example - when to launch the product , the timing, the strategy, the target audience, how to position for market share etc.

3) Operational Planning - The planning where the management decides how tactical and strategic plans would be put into action. It is following of the policies, plans and procedures both in letter and spirit using the resources available to the company.

3) Organizing - 'A place for everything and everything in its place'. It is an important function of the organization to ensure that a framework is designed to ensure continous running of production and supply chains. It involves setting up responsibilities and accountabilities. The organizations also divide various sections into different departments based on their functions. Organizational chart of the company is set out.

4) Staffing - This comprises of hiring of right people for the right job. This broader function also includes training of the personnel, organizing of programs to help the employees become accustomed to the organization's plans and goals and also to mark their responsibility as well as accountability.

5) Controlling - Controlling is extremely important to ensure that optimum supply is maintained throughout the running of production lines, to control wastage os resources or over or under utilization of resources. The management has to ensure that the desired goals are achieved with available resources thus, controlling the deployment of resources to particular task would ensure that quality parameters are met without any over or under utilization of scarce resources.

6) Reviewing - The management revisits its goals and its resources from time to time to make amends for the ever changing environment. The management also does a review of whether goals have been achieved or not? What are the reasons because of which goals were not achieved? What the company needs to change in order to enable it to achieve its targets? The review of targets with performance and the reasons for deviation are discussed and plans are made to take into account for the anamolies discovered by the company during the discussions.

The management is the face of any organization. They are accountable to all the stakeholders, government agencies and to the public at large. It is the task of the mangement to bring all the resources, activities, processes together in a harmonious way so as to enable the effective utlization of resources and ultimately, to achieve the objectives of the organization.

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Answer 2

ANSWER :

What is management?

Management basically is to mange the things and people to get the set objectives and the goals of the organisation. Therefore, management can be defined as a process (timely completionusing skills of art and science) of  planning (including setting goals and objectives), organising resources and people, leading and directing, controlling and decision making to achieve the set goals and objectives of the organisation.

The primary  functions of management are, therefore, as under :

Planning 

It starts with setting goals and objectives of the organisation. It plans activities and sub goals and a formulate network of these activities for reaching the target goals in time and within the budgeted costs with optimum allocation and utilisation of resources. Planning decades what, who, when and where  aspects in its process. 

Organising :

It basically considers “how” tan “who” to achieve the objectives. Resources of all types needed are allocated, people are assigned tasks defining their authorities and responsibilities (also termed as staffing). 

Directing :

It emphasises “what” and “how”. People are directed what they are do and ach guided from time to time , if required, to accomplish the completion of tasks effectively and efficiently. It also needs the skills of leading people. Leadership qualities are helpful in carrying out this function.

Controlling :

Thins around us may at times go out of track. It is necessary to keep track of tasks whether they are going as planned. If any task goes off track, it is to be brought back on track. It is controlling. 

Decision making :

In al of the above functions decision making is involved. It is necessary to lead the organisation to its set goals.