What is Managemant? Key Functions of Management
Management is the process of planning, organizing, directing, and controlling resources both human and non-human within an organization to achieve specific goals and objectives. It involves coordinating the efforts of people to achieve organizational objectives efficiently and effectively. Management is a dynamic and multidimensional field that plays a crucial role in the success and sustainability of businesses and other types of organizations.
Key Functions of Management:
1. Planning: Involves setting organizational goals, defining strategies to
achieve those goals, and developing plans to integrate and coordinate
activities.
2. Organizing: Focuses on arranging resources such as human capital, financial
capital, and physical assets to carry out the plans effectively. This includes
creating structures, processes, and systems to facilitate goal attainment.
3. Directing (Leading): Involves influencing and motivating people to work toward
organizational goals. It includes tasks such as leadership, communication, and
team management.
4. Controlling: Encompasses monitoring organizational performance, comparing it
to established goals, and making adjustments as necessary. This ensures that
the organization stays on course and achieves its objectives.
