The organization and coordination of the activities of a business in order to achieve defined objectives. The basic task of management includes both marketing and innovation. Practice of modern management originates from the 16th century study of low-efficiency and failures of certain enterprises. Management consists of the interlocking functions of creating planning, organizing, directing, and controlling an organization's resources in order to achieve the objectives of the organization.
Functions of management
Planning is the foundation pillar of management. It is the base upon which all other areas of management are built. Planning requires administration to assess where the company presently is and where it would be in the coming years. From there, an appropriate course of action is determined and implemented to attain the company's goals and objectives.
The second function of the management is getting prepared and getting organized. The management must organize all its resources beforehand, to follow the course of action decided during the planning process. Determining the hierarchy of the organization, ensure the harmonization of staff, and try to find out the best way to handle the important task. Determine the division of work according to its need and decide for suitable departments to hand over authority and responsibilities.
Steps in organizing:
Defining Jobs and Activities
Distribution of Authority
Balancing Authority and Responsibility
Directing or leading is the third function of management. Under this function the management control and supervise the actions of the staff. It also enables them to render assistance to the employees by guiding them in the right direction, to achieve the company's goals and also accomplish their personal or career goals, which can be powered by motivation, communication, department dynamics, and...
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