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Functions of Management

The document discusses the five primary functions of management: planning and forecasting, decision making, organizing, leadership and motivation, and controlling. It describes each function in detail and provides an example of how a company utilized all five functions when developing and introducing a new product to market.

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Ahsan Abbas
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27 views

Functions of Management

The document discusses the five primary functions of management: planning and forecasting, decision making, organizing, leadership and motivation, and controlling. It describes each function in detail and provides an example of how a company utilized all five functions when developing and introducing a new product to market.

Uploaded by

Ahsan Abbas
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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The five primary functions of management or managerial roles that we have discussed so far are as

below with brief description of intentions and purposes of such functions.

1- Planning and Forecasting – Determining the courses of action


2- Decision Making – The process of choosing possible or available options
3- Organizing – Coordinating activities and resources
4- Leadership and Motivation – managing, motivating and directing people
5- Controlling – Monitoring and evaluation activities

However, per most of the texts and resources on management, these five functions are commonly used
under different names such as planning, organizing, leading, staffing and controlling. These are called
five functions of great management but are essentially are identical to what we learnt in the class since
the objectives are concurrent. The first function of planning is about choosing appropriate goals and
actions to take and decide what resources are needed to achieve our goals. It basically give projections
and probability of possible trends or occurrences that are likely to affect or influence the course of
action towards our goals and help us improve the effectiveness of management. In simple words,
planning is about how we as an organization are going to tackle a particular situation in future;
therefore, it is all about decision making with visionary abilities to foresee the future dynamics. Then
comes the organizing function which is all about coordinating the activities and available resources to
make our plans and goals realize in best possible way. In this process, managers intentionally devised
the hierarchy of positions and roles to achieve targets. That hierarchy is called as an organization which
has structure of relationships to purse and achieve the planned objectives. One of the most important
outcomes of the organizing phase is the best human performance through staffing of human resources.
The competency and efficiency of organization via staffing is improvised with promotions, demotions
and transfers, so that the right person can be utilized for the right job. Then comes an extremely
important but basic function of management leading to influence people in the right direction for
achieving results that help both improve the effectiveness and efficiency of group of people working
together i.e. organization. The key performance indicators of leading from front and directing in the
right directions are motivation, coordination and communications. Finally, the organization goals are
achieved by creation of a favorable environment in which human resource is connected by planning,
organizing and leading.

I strongly believe that from inception, design, manufacturing, quality assurance, marketing and sales and
customers we have utilized every one of the five fundamental functions of management. The moment
we incepted an idea of manufacturing a smart crutch, we planned why and how we are going to
introduce that product in the market in the beginning. In the initial phase, we were reasonably accurate
in choosing our target market for the product we were introducing. We organized every available
resource such as literature, market surveys, human and financial resources and developed a team where
we assigned particular roles to each other based on their competencies. From inception to introduction
of our product in the market every building block of management from planning to controlling as
discussed above was utilized and I feel that in order to accomplish any target, if we stick to these
fundamentals we can touch skies in a very short period of time.

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