Function of Management, Contemporary Management Video Lecture | Contemporary Management - B Com

improving your understanding of the
functions of management can help you
effectively manage company or your team
it can help you understand at the
minimum the purpose of some departments
such as quality control recruitment or
training as a frontline leader it can
help you appreciate the activities and
tasks you need to do there are five
functions of management these are post
econ planning organizing staffing
directing and control planning is
charting the future it is deciding in
advance what to do when to do it and how
it's going to be done it can be as big
as deciding the invention vision and
objectives of a company or a plan to
improve certain business metric of your
team
it is identifying what you want when you
should achieve it and how it will be a
team next organizing is called the
backbone of management organizing is
grouping of activities together think of
your department all employees that hire
additional employees or group under the
recruitment department or those who
advertise and sell the product served
under marketing and sales and those who
actually make the product or services
work under productions or operations
organizing is also creating the
organizational structure or hierarchy of
the business
it's delegation of authority and
creation of responsibilities and tasks
organizing also ensures that whatever
necessary items the business or
department needs are met such as the
need for materials like machineries or
computers capital and personnel third
staffing is commonly associated with
hiring and promoting employees as a
function of management it goes more than
that as it involves training and
development remuneration or compensation
and performance appraisal the erecting
on the other hand makes the plans
concrete it involves supervision
motivation leadership and guidance of
employees all of these are done ensure
that organizational goals are met
finally controlling is measuring
performance on a set of standards and
correcting any deviation let's say your
actual Net Promoter Score or client
satisfaction is lower than the target
the control would mean creating the
necessary steps to correct and achieve
the target overall a frontline leader
would normally do a smaller version of
each function on a bigger level each
function can be represented by different
departments or roles planning is
normally done by middle managers and up
such as department managers or district
head organizing is done by HR or senior
managers while staffing is handled by
training recruitment and HR directing is
handled by frontline leaders or
operations and control is handled by
quality control these are just some
general activities of each function and
each industry or business will have more
or less depending on their needs and one
so these are the functions of management
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