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Functions of Management (Organising (Resources (Jobs, Technology,…
Functions of Management
Management
Robbins (2010)
Effectiveness and efficiency deal with what is done and how
Efficiency
doing the task correctly
relationship between inputs and outputs
minimising resource costs
Effectiveness
: doing the right task => goal attainment
The process of getting things done effectively and efficiently, through and with other people
Planning
Allows to make best use of current resources
Allows to anticipate future trends/possibilities
Devising systematic process for attaining the objectives in preparation for future transactions
Without plans organisation has no goals => is likely to fail
Organising
Scheduling work to be accomplished effectively by the firm’s resources
Organising resources to achieve efficiency
The way work is arranged
Resources
Jobs
Technology
Facilities
Equipment
People
Information
Money
Organisation must
Create structure
Establish relationships
Allocate resources
Help accomplish goals of the organisation
Commanding
(
outdated term, replaced by leading and motivating employees
)
Co-ordinating
(
an extension of the organising component
)
Controlling
Verifying if the actual performance matches the plan
Stages of control
Measure performance
Compare actual results against standards
Establish standards of performance
Take corrective action where required
Financial control
Measuring the business’s results to see how they compare with planned objectives
Quality Control