Visit a nearby organization, identify and explain the different managerial functions which take place in the organization.
Answers
Answer:
Planning.
Organizing.
Staffing.
Directing/leading.
Coordinating.
Reporting.
Budgeting.
Controlling.
The different managerial functions which take place in the organization are as follows-
1. Predictions- Organizations use forecasting methods to anticipate factors related to the business for example potential customers, profit margin, allocation of capital, and many more. They make use of the data of the previous years to determine the same.
2. Planning- In accordance with the factors anticipated, a detailed strategy considering minute points is organized keeping in mind the organization goal set for the year.
3. Organizing- It is mainly a prototype that carries the details of the organized plan like how to carry out the plan, how many employees are required to get the work done, and so on.
4. Leadership- Most important managerial function is Leadership. It is the showcase of leadership and managerial skills and how to get the work accomplished in a smooth way. It also includes motivating, inspiring, and holding an empathetic behavior for the employees.
5. Controlling and Execution - The final step is the execution of the plan. It includes correcting the errors in the work of subordinates, time management, quality check, and many more. Executing the work in the exact planned way and accomplishing the given target requires a lot of coordination among the employees.