IMPORTANCE OF MANAGEMENT
FUNCTIONS IN BUSINESS INDUSTRY
A PRESENTATION BY: ALURA, KIM ALFRED P.

1
1ST
What are the Functions
of Management?

Functions of Management
Planning
Planning means defining performance goals for the organization and
determining what action and resources are needed to achieve the goals.
Organizing
The organizing function involves deciding how the organization will be
structured by different department. Organizing involves assigning authority
and responsibility to various departments, allocating resources across the
organization, and defining how the activities of groups and individual will be
coordinated.

Functions of Management
Leading
Leaders use knowledge, character, and charisma to generate enthusiasm and
inspire effort to achieve goals.
Controlling
Controlling is the process of monitoring activities, measuring performance,
comparing results to objectives, and making modification and correction when
needed.

2
2ND
Importance of Management
Function in Business Industry

Importance of Management Function in Business Industry
1. It helps in achieving organization/company goals – It arranges the factors of production, assembles and
organizes the resources, integrates the resources in effective manner to achieve goals.
2. Optimum Utilization of Resources - Management utilizes all the physical & human resources productively.
This leads to efficacy in management.
3. Reduces Costs - It gets maximum results through minimum input by proper planning and by using minimum
input & getting maximum output.
4. Establishes Equilibrium – It enables the organization to survive in changing environment. It keeps in touch
with the changing environment.
5. Essential for Prosperity of Society – Efficient management leads to better economical production which
helps in turn to increase the welfare of people. Good management makes a difficult task easier by avoiding
wastage of scarce resource.

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