4

th
Aug
Management quotes:
Employers are like horses they require management.
Management is nothing more than motivating other people.
No great manager or leader ever fell from heaven, its learned not inherited.

FUNCTIONS OF MANAGEMENT
1. Planning: Planning is the:

Start of the process

Bridge between present and future

Increases likelihood of achieving desired results

It includes:

Forecasting

Establishing objectives

Planning

Devising strategies

Developing policies

Setting goals

The only thing certain about the future of any organization is change, and planning is
the essential bridgebetween the present and the future that increases the likelihood of achieving d
esired results. Pla ning is the process by which one determines whether to attempt
a task, works out the most effective way of reachingdesired objectives, and prepares to overcome
unexpected difficulties with adequate resources. Planning enables a firm to gather the resources
needed and carry out tasks in the most efficient way possible.
An organization can develop synergy through planning. Synergy exists when everyone pulls
together as a team that knows what it wants to achieve;
Synergy: the working together of two things (muscles or drugs for example) to produce an effect
greater than the sum of their individual effects
2. Organizing:

Achieve coordinated effort

Defining task and authority relationships

Departmentalization

Delegation of authority
Organizing means determining who does what and who reports to whom. It includes 3 activities:
breaking
tasks down into jobs (work specialization), combining jobs to form departments (departmentaliza
tion), and delegating autho
3. Staffing:
The management function of staffing, also called personnel management or human resource ma
agement, includes activities such as
recruiting, interviewing, testing, selecting, orienting, training, developing, caring for,
evaluating, rewarding, disciplining, promoting, transferring, and dismissing employees, and
managing union relations.

Wage & salary admin

Employee benefits

Interviewing

Hiring

Firing

Training

Staffing

Management development

Safety

Affirmative action

EEO

Labor relations

Career development

Discipline procedures

4. LEADING
Leading involves influencing others toward the attainment of organizational objectives. Effective
leading requires the manager to motivate subordinates, communicate effectively, and effectively
use power. If managers are effective leaders, their subordinates will be enthusiastic about
exerting effort toward the attainment of organizational objectives.
To become effective at leading, managers must first understand their subordinates' personalities,
values, attitudes, and emotions.

5. Controlling: Ensure actual operations conform to planned operations

Quality control

Financial control

Sales control

Controlling

Inventory control

Expense control

Analysis of variances

Rewards

Sanction
Controlling consists of four basic steps:
1. Establishing performance standards
2. Measuring individual and organizational performance
3. Comparing actual performance to planned performance standards
4. Taking corrective action
Importance of management
1. Encourages Initiative: Management encourages initiative. Initiative means to do the right
thing at the right time without being told or influenced by the superior. The employees should
be encouraged to make their own plans and also to implement these plans
It helps in Achieving Group Goals
Reduces Costs: It gets maximum results through minimum input by proper planning and by
using minimum input & getting maximum output
Establishes Equilibrium: It enables the organization to survive in changing environment. It
keeps in touch with the changing environment.
Facilitates growth and expansion: Management makes optimum utilization
of available resources. It reduces wastage and increase efficiency. It encourages team work and
motivates employees

Improves life of workers: Management shares some of its profits with the workers. It provides
the workers with good working environment and conditions. It also gives the workers many
financial and non-financial incentives.

Motivates employees: Management motivates employees by providing financial and non-
financial incentives. These incentives increase the willingness and efficiency of the employees.

Improves relations: Management improves relations between individuals, groups, departments
and between levels of management. Better relations lead to better team work. Better team work
brings success to the organisation.