The primary challenge faced by organizations and managers today is to creatively solve business problems. The principles of management are guidelines using which managers can tackle business challenges. Show
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The principles of management have been categorized into the four major functions of planning, organizing, leading, and controlling popularly known as the P-O-L-C framework. The P-O-L-C Framework
PlanningPlanning is the first and the most important function of management that involves setting objectives and determining a course of action for achieving those objectives. Planners are essentially the managers who are best aware of environmental conditions facing their organization and are able to effectively analyze and predict future conditions. It also requires that managers should be good decision makers. Planning involves selecting missions and objectives and the actions to achieve them, it requires decision making, i.e. choosing future courses of action from among alternatives. Planning means determining what the organization’s position and situation should be at some time in the future and deciding how best to bring about that situation. It helps maintain managerial effectiveness by guiding future activities. Planning as a process typically involves the following steps −
Types of Planning
OrganizingOnce a manager has created a work plan, the next phase in management cycle is to organize the people and other resources necessary to carry out the plan. Organizing should also consider the resources and physical facilities available, in order to maximize returns with minimum expenditure. Organizing may be referred to as the process of arranging and distributing the planned work, authority and resources among an organization’s members, so they can achieve the organization’s goals. Organizing involves the following steps −
Organizing at the level of a particular job involves how best to design individual jobs so as to most effectively utilize human resources. Traditionally, job design was based on principles of division of labor and specialization, which assumed that the more narrow the job content, the more proficient the individual performing the job could become. LeadingOrganizations as they grow, develop complex structures with an increasing need for co-ordination and control. To cope and manage such situations, leadership is necessary to influence people to cooperate towards a common goal and create a situation for collective response. Leading entails directing, influencing, and motivating employees to perform essential tasks. It also involves the social and informal sources of influence to inspire others. Effective managers lead subordinates through motivation to progressively attain organizational objectives. Personality research and study of job attitudes in Behavioral Science provides important insight on the need for coordination and control. Thus it becomes important for leadership to create harmony among individual efforts to collectively work towards organizational goals. ControllingManagers at all levels engage in the managerial function of controlling to some degree. Two traditional control techniques are budget and performance audits. An audit involves a physical examination and verification of the organization’s records and supporting documents. A budget audit provides information about where the organization is with respect to procedures followed for financial planning and control, whereas a performance audit might try to determine whether the figures reported are a reflection of actual performance. Controlling involves measuring performance against goals and plans, and helping correct deviations from standards. As a matter of fact, controlling facilitates the accomplishment of plans by ensuring that performance does not deviate from standards. Controlling is not just limited to organization’s financial state, but also spans across areas like operations, compliance with company policies and other regulatory policies, including many other activities within the organization. The management functions thus most effectively cover the broad scope of a manager’s duties and responsibilities. Though the nature and complexities faced by businesses have undergone a vast change over the years, the functions of management remain the same. Is the function of management that involves developing an organization?Organizing is the function of management that involves developing an organizational structure and allocating human resources to ensure the accomplishment of objectives. Which function of management involves determining what kind and when workers are needed?Planning means defining performance goals for the organization and determining what actions and resources are needed to achieve the goals. What is the most basic function of management where it determines the courses of action to achieve desired outcomes?It is the basic function of management. It deals with chalking out a future course of action & deciding in advance the most appropriate course of actions for achievement of pre-determined goals. What are the 4 management functions?Over the years, Fayol's functions were combined and reduced to the following four main functions of management: planning, organizing, leading, and controlling. What is the most basic function of management where it determines the courses of action to achieve desired outcomes?It is the basic function of management. It deals with chalking out a future course of action & deciding in advance the most appropriate course of actions for achievement of pre-determined goals. According to KOONTZ, “Planning is deciding in advance - what to do, when to do & how to do.
What function of management makes the manager establish organizational goals and create a course of action to achieve them?1. Planning. In the planning stage, managers establish organizational goals and create a course of action to achieve them. During the planning phase, management makes strategic decisions to set a direction for the organization.
Which function of management is called management in action?Directing is the management function, which is known as 'management in action'.
Is the management function that involves determining the best strategies and tactics for achieving the organization's goals and objectives?Strategic management is the ongoing planning, monitoring, analysis and assessment of all necessities an organization needs to meet its goals and objectives. Changes in business environments will require organizations to constantly assess their strategies for success.
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