For the smooth functioning of a business, each manager is required to perform the primary functions of management viz planning, organising, directing, staffing and controlling!
1. Planning:
Planning is the basic function of the management and involves deciding in advance what is to be done, how, where, and by whom. Planning is futuristic in nature. It is a continuous process that fills the gap between where we are and where we want to reach.
It involves establishment of objectives and determining means to achieve these objectives efficiently and effectively. For example, in order to carry on manufacturing of paper, a manager has to think about the supplier of raw material, tools and equipment required, quality to be maintained etc.
2. Organising:
After deciding the organizational objectives, the management has to determine the various activities and the resources required to achieve the same. Organising involves identifying the various activities, grouping them under proper head, assigning duties to the individuals, establishing authority-responsibility relationships and allocating resources to carry out specific plans for the achievement of organizational goals.
3. Staffing:
Finding the right man and placing him to the right job is known as staffing. It is the most important function of the management and involves recruitment, selection, placement, training and development of the employees. It is also referred to as a human resource function.
4. Directing:
Directing involves leading, guiding, supervising and motivating the employees to perform their jobs efficiently in order to achieve organisational goals. It helps to convert plans into action. Motivation, communication, leadership and supervision are its main elements. Its most important advantage is that it cultivates in the employees the sense of oneness belonging with their employer.
5. Controlling:
It is the last but very important key function of management. It involves comparing the actual performance with the established standard, finding out deviation, if any, and taking corrective actions to ensure that activities are going on according to the plans. It is referred to as monitoring function of management.