Functions/Elements of Management: According to Henry Fayol, in every organization managers perform certain functions to achieve results. These functions are broadly classified under five categories:-
a) Planning: Planning is a process of making decisions about the future. It provides direction to enterprise activities. Its work is to decide in advance what is to be done, when and where it is to be done, how it is to be done and by whom. The main functions of planning are Set up goals, Forecasting, Search for alternatives source of action and Budgeting.
b) Organizing: It is concerned with the arrangement of an organization’s resources – people, material, technology and finances in order to achieve enterprise objectives. The main functions of organizing are Job design, Job specification and Authority and responsibility.
c) Staffing: Staffing is the function of employing suitable personas for the enterprise. It may be defined as an activity where people are recruited, selected, trained, developed, motivated and compensated for manning various positions.
d) Directing: According to Dale, direction is telling people what to do and seeing that they do it to the best of their ability. Directing is a function of guiding and supervising the activities of subordinates. The four main elements of directing are:
1. Leadership: It is a process of influencing the action of a person or a group to attain desired objectives. The success of an organization depends upon the quality of leadership shown by its managers.
2. Motivation: It is the process of stimulating people to take desired courses of action. It is to inspire, encourage and impel people to take required action.
3. Communication: It is a way of reaching other with ideas, facts, and thoughts. Effective communication is important in organization because managers Can achieve very little without it.
e) Controlling: It is the management function concerned with monitoring employee’s activities, keeping the organization on track towards its goals, and making corrections as required. It include four things:
- Setting standard of performance.
- Measuring actual performance.
- Comparing actual performance against the standard.
- Taking corrective actions to ensure goal accomplishment.
