Q 14. Explain the functions of management in business studies
Answers
Explanation:
Management is defined as the procedure of organising, directing, planning and controlling the efforts of organisational members and of managing organisational sources to accomplish particular goals.
Answer:
Following are the functions of
management:
a. Planning: Planning refers to thinking before hand. Under this it is decided—what is to be done, how it is to be done, when it is to be done and by whom it is to be done.
b. Organising: Organising refers to harmonious adjustment of various elements to achieve common objectives. It involves determining activities needed to achieve the objectives, grouping these activities into departments, assigning such group of activities to managers and defining the interrelationship among various posts so that ambiguity in performance of duties can be eliminated.
c. Staffing: Staffing refers to filling and keeping filled the posts with people. It ensures that competent persons are appointed. The chief activities undertaken in it are recruitment, selection, training, promotion, transfer, etc.
d. Directing: Directing refers to instructing, guiding, communicating and inspiring people in the organisation. It includes the following four activities: i. Supervision: It refers to monitoring the progress of work of one’s subordinates and guiding them properly.