following are the major functions of management.
- Planning- Every function starts with planning. So is in the business also. In common sense planning is predetermined course of action to accomplish the set objectives. planning a business organization its objectives and set up the best procedures for reaching them. It involves decision making as to what is to be done, how it is to be done, where it is to be done, when it is to be done etc. Thus planning includes determination of objectives, setting rules, determining projects, setting procedures and strategy etc. So it is an important function of management.
- Organizing- Organizing involves divided works into different parts, grouping these activities in the form of position, grouping of various positions into departments, assigning such position to the manager and delegating authority to each manager to accomplish the work in a planned manner.Thus organizing function can be viewed as a tool to translate plans into realities. In this way organizing in ultimate analysis provides a mechanism for purposive, integrated and co-operative action by people in a joint or organized effort to implement plans.
- Staffing- Staffing involves manpower planning and manpower management. In simple words, staffing functions includes preparing inventory of personnel available, requirement of personnel, sources of manpower, their selection, remmuniration, training and development and periodic appraisal of personnel working in the enterprises. It is very complex and difficult functions of management because it relates to the selection of those people who are properly qualified and mentally rich for business requirements.
- Leading-The function of like planning, organizing and staffing are merely preparation for doing the works, the leading is or directing functions actually states the works. The leading is concerned with guiding, teaching, stimulating and actuiying the members to work efficiently.