Management is very important for any organization without proper management you cannot achieve the required objectives. It is an important force which coordinate the individual efforts. Any how, it is a controlling force in case of business, country or even for a family. It can be defined in the following words :
Definition of Management :- "Management is a process of coordinating the resources to meet the objectives."
Business Management :- "Business activity which directs and controls the organization and operations of a business enterprise is called Business Management ."
Manager :- "The person who controls the over all activities of the business, a firm or a department is known as manager."
Important Functions of Management
1. Planning :-
It is the basic function of the manager. There are various decisions which the management has to make the business. For example which business should be started? what should be produced? where should be produced? where should be sold? how resources should be granted? how resources should be allocated?
Determination of objectives and selections of policies to achieve these objectives involves in planning. Without planning, the management can not achieve its objectives. So it is the most important function of management.
2. Organization :-
It is the second important function after planning. Organization is a mean by which a manager co-ordinates the other factors of production. He combines the Land, Labour, Capital and other sources to produce the goods or services. Without effective organization a manager can not achieve his targets.
3. Staffing Up :-
To select a right man for right job is very important factor for the success. A manager has to select the efficient and healthy workers on proper places in the organization. It is a team work. If every member of the team is playing at his proper position then it can achieve its goal. So staffing involves filling the posts and assigning the jobs to the people according to their skill and ability in the organization to achieve the goals.
4. Leading :-
Effective managers needs to be effective leader. So leading is the main quality of the manager. A manager must influence and guide his employees to do the jobs according the demand of the organization. So leading is a process of guidance. This guidance can be provided by the manager through actual demonstration about the specific task or by his attitude.
5. Motivation :-
There is a need of motivation to achieve certain objectives of the organization. It is a process of providing the reasons for the workers to work in the best interest of the organization. For this purpose incentives are given to the people to motivate them for hard work.
6. Controlling :-
It is a process which measures the performance of organization against the targets determined in the plans. So controlled activities relate to the measurement of achievements. If the result is not up to standard then measures are adopted to correct the situation. Plans guide the managers in the use of resources to achieve specific goals. Controlling helps to achieve the objectives of plan.