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    Functions of Management

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    Ravi Sharma
    The document discusses the key functions of management, which include planning, organizing, staffing, directing, and controlling. It then focuses on planning and defines it as deciding in advance what to do, how to do it, when to do it, and who will do it. Planning involves anticipating the future and consciously choosing the future course of action. The document outlines the nature, need, advantages, limitations, and elements of planning. It discusses standing plans like objectives, strategies, and policies as well as single use plans such as programs, schedules, and budgets. Finally, it covers different types and tools of planning.

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    Functions of Management

    Uploaded by

    Ravi Sharma
    22 views16 pages
    The document discusses the key functions of management, which include planning, organizing, staffing, directing, and controlling. It then focuses on planning and defines it as deciding in advance what to do, how to do it, when to do it, and who will do it. Planning involves anticipating the future and consciously choosing the future course of action. The document outlines the nature, need, advantages, limitations, and elements of planning. It discusses standing plans like objectives, strategies, and policies as well as single use plans such as programs, schedules, and budgets. Finally, it covers different types and tools of planning.

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    Original Title

    Planning

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    The document discusses the key functions of management, which include planning, organizing, staffing, directing, and controlling. It then focuses on planning and defines it as deciding in advance what to do, how to do it, when to do it, and who will do it. Planning involves anticipating the future and consciously choosing the future course of action. The document outlines the nature, need, advantages, limitations, and elements of planning. It discusses standing plans like objectives, strategies, and policies as well as single use plans such as programs, schedules, and budgets. Finally, it covers different types and tools of planning.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    22 views16 pages

    Functions of Management

    Uploaded by

    Ravi Sharma
    The document discusses the key functions of management, which include planning, organizing, staffing, directing, and controlling. It then focuses on planning and defines it as deciding in advance what to do, how to do it, when to do it, and who will do it. Planning involves anticipating the future and consciously choosing the future course of action. The document outlines the nature, need, advantages, limitations, and elements of planning. It discusses standing plans like objectives, strategies, and policies as well as single use plans such as programs, schedules, and budgets. Finally, it covers different types and tools of planning.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 16

    Functions of Management

    Planning( Environment Analysis , Decision-


    making)
    Organising(grouping of activities,assigining
    duties ,delegating authority,etc.)
    Staffing(recruitment,selection,development
    etc.)
    Directing(motivating,leading,communicatio
    n etc.)
    Controlling(setting standards,measuring
    performance,correcting performance etc.)
    PLANNING
    MEANING OF PLANNING

    Planning is deciding in advance what to


    do, how to do it, when to do it and who
    will do it. It involves anticipating the
    future and conciously
    Choosing the future course of action.
    According to Haimann, Planning is
    the function that determines in
    advance what should be done.
    Nature of Planning

    Planning is goal-oriented
    Planning is a primary function
    Planning is pervasive function
    Planning is a continuous process
    Planning is forward-looking
    Planning involves decision making
    Planning is directed toward efficiency
    PROCESS OF PLANNING
    Need/Advantages/Importan
    ce of planning
    Focuses attention on objectives and
    result
    Reduces uncertainty and risk
    Provides sense of direction
    Encourages innovation and creativity
    Helps in co-ordination
    Guides decision-making
    Provide efficiency in operation
    Limitation of planning

    Lack of accurate information


    Time and cost
    Resistance to change
    Lock of ability to plans
    False sense of security
    Environmental constraints
    Elements of planning
    STANDING PLANS SINGLE USE
    PLANS
    Objectives Programmes
    Strategies Schedules
    Policies Budgets
    Procedures Projects
    Methods Tactics
    Rules
    Standards
    Standing Plans
    Objectives: Objectives are the desired results
    that an organisation wants to achieve within a
    specified time period.
    Strategies: The long terms approach for
    dealing with the organisations competitive
    environment with a view to win over
    competitors in business.
    Policies:Policies are the guidelines set to
    provide direction in decision making. These
    set the boundries around which decisions are
    made.
    Procedures: A procedure is a
    chronological sequence of steps or
    actions to be taken to accomplish a
    specific task or job.
    Method: A method is a prescribed way
    of completing a step in a procedure.
    Rules: Rules are specific recorded
    statements that direct what must or
    must not be done in a given situation.
    Standards: A standard is a measure
    against which the level of performance
    is measured or evaluated
    SINGLE USE PLANS
    Programmes: A programme is a action plan
    consisting sequence and timing of steps
    necessary to achieve objectives.
    Schedules: A schedule is a plan which indicates
    the time of commencement of task, passing
    through the different stages of processes, and
    finalising the task.
    Budgets: A budget is a statement of expected
    results expressed in numerical terms.
    Projects: A project is a smaller action plan and a
    distinct part of a programme.
    Tactics: It is a short-term action plan for
    implementing strategies.
    TYPES OF PLANNING
    Corporate planning: Corporate planning is the
    overall long-term planning of the entire
    organisation.
    Strategic planning: It is overall organisational
    planning that aim at establising long-rang plans
    for dealing with the organisations competitive
    environment.
    Operational or Tactical planning: It formulates the
    plans that specify how the overall objectives can
    be achieved on time with available resources.
    Functional planning : Functional planning relates to
    various functional areas of business. These
    include production, marketing,personnel,finance
    and so on.
    Tools and Techniques of
    planning
    1. Forecasting
    2. Budgeting
    3. Break-even analysis
    4. Marginal analysis
    5. Linear programming
    6. Queueing theory
    7. PERT/CPM
    8. Theory of probability
    Forecasting: Forcasting is the process of
    predicting future events that will effect the
    functioning of an organisation. Types- a.
    Quantitative b. Qualitative
    Budgeting: A budget is a numerical statement
    showing the allotment of resources to specific
    activities.
    Break-even analysis:It is a technique of
    identifying the number of units of a product that
    must be sold in order to generate enough
    revenue to cover the costs.
    Marginal analysis: This technique helps
    managers to plan the quantity of production to
    the extend. it adds more to total revenue than to
    total cost.
    Linear programming: Linear programming is a
    technique for determing the optimim
    combination of limited resources to obtain a
    desired goal.
    Queueing theory: It is a mathematical technique
    of planning and decision- making.
    PERT/CPM: It is a network technique useful in
    planning , decision-making and controlling. PERT
    stands for Programme Evaluation and Review
    Technique and CPM stands for Critical Path
    Method
    Theory of probability: In this technique ,
    managers use statistics to evaluate and reduce
    amount of risk involved in a plan.

    TH
    A
    N
    K
    YO
    U

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