In this topic, you will learn about, Functions Of Principles Of Management.
Functions Of Principles Of Management:
Levels of Management:
In any business organization, there are certain levels of management with a varying degree of authority and responsibility. Managers performing different types of duties may thus be divided into three categories:
- Top Level Management.
- Medium Level Management.
- Lower Level Management.
Top-level Management: Any business organization.
Position: Board of directors, chief executives.
Functions: defining the objectives and formulating the policies.
Medium level Management: medium level management plays a very vital role in any business organization.
Position: Departmental and Managers.
Functions: identifying the departmental objectives and guiding the lower level to work the achievement of their objectives.
Lower level Management:
Position: Supervisors and foreman.
Functions: carrying out operations and supervising. This level includes all the workers in any business organization.
These three levels of management taken together form the “hierarchy of Management”.
Functions Of Principles of Management:
Planning: (deciding something in advance) in any business organization managers perform six vital functions for making the organization objectives successful. Among all the functions planning is the most fundamental. Planning here denotes deciding in advance what to do, how to do when to do it, by whom be perform in a given set of environments. Planning plays a vital role in integrating the different resources of the organization.
It is basically concerned with the selection of goals to be achieved and determine the effective course of action from among the various alternatives. This involves costing, establishing a target, developing the policies and programs, and scheduling of the actions and the procedure.
The planning requires a decision to be made on what should be done, how will it be done, where will it be done and why is to be done. The essential part of planning consists of setting goals and programs of activities.
Organizing: after planning when the plans have already been done just have to organize the activities and physical resources of the business organization to carry out the selected programs successfully.
It also involves determining the authority and responsibility relationship among the various functions. Department and person of various departments and levels to ensure the smooth functioning of management at various levels.
Thus, the organization the function of management is primarily concerned with identifying the task involved and grouping them into units and departments and defining the duties and responsibilities of people in a different position in each department for good coordination and co-operative effort in the organization.
Staffing (Human Resource): Skill Competencies Requirement-> Selection->induction program->Tanning->placement->remuneration (salary) ->performance evaluation-> (incentives in the form of cash, promotions or increase in salary, give share) ->Motivate.
For any business, organization staffing plays a very important role. Here staffing is concerned with employing people for various activities. The objective of staffing is to ensure that suitable people have been appointed for different positions. It includes the various functions of requirement, selection, induction, training, placement, performance, evaluation, remuneration, incentives of the employees.
Directing: The directing function of management includes guiding the staff, subordinates, supervising their performance, communicating effectively, and motivating them. A manager should be a good leader. He should be able to command and issue instructions without arousing and resentment. In modern business organizations directing by superior plays a very important role in the success and failure of the business organization. A manager should keep a watch on the performance of his subordinates and helps them out whenever they come across any difficulty.
The communication system that is an exchange of information should take place regularly for building confidence, clarity, and understanding. Thus, from the above discussion, we can very well understand that there should be proper communication between different levels so that in spite of any differences a proper understanding can be established and it helps in motivating and creating creativity among the employees.
Controlling: in any business organization, the function of management consists of steps taken to ensure that the performance of work is in accordance with the plan. It includes taking certain measures or steps for performance appraisal according to certain sets of standards. In today’s modern world, if a difference is noticed corrective steps need to be taken immediately or urgently otherwise it might be too late. A corrective step includes revision of standards, regulate operations, remove differences, and improve performance.
Coordination: Coordination is the essence of management. Coordination is needed at all levels in a business organization. Management has to ensure that all the activities contribute to the achievement of a business organization. By coordination here we mean bringing efficiency in operations by achieving the objective of the business organization. Thus, it has been rightly said that coordination leads to optimum utilization of all resources.
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