Planning involves establishing relationships between facts and activities to achieve predetermined objectives. Organizing establishes authority and responsibility structures to execute plans. Staffing involves hiring the right employees with the right qualifications. Directing guides and supervises employees to achieve objectives. Coordination is needed at every management stage to ensure work is completed without duplication. Reporting keeps open communication channels to share information and monitor progress. Budgeting allocates resources in advance and holds employees accountable for their use.
4. PLANNING
• Planning means selection of facts for the expected result to
establish inter-relationship between them, as well as
observation of necessary activities & fore casting for the same
anticipation.
• Management begins with planning.
• When in advance, it is wisely considered what work, who will
do, when, how , to what extent & when work is to be finished
for the achievement of predetermined objectives, it is known
as planning.
5.
6. ORGANISING
• Organisation is a structure for the assignment of authority &
responsibility among individuals working for the achievement
of common objectives.
• Objectives policy, programme , etc. are decided through
planning.
• While executing plan, organization structure is formed.
7.
8. STAFFING
• where there is a business organization , there will be
existence of staff.
• Any organization without staff is like a mere skeleton.
• Activities of any business unit depends on its staff.
• Staffing related with requirement of employees for the right
position , at the right time, in the right number , with the right
qualification.
9.
10. DIRECTING
• Directing means to guide & to supervise the employees for
the accomplishment of objectives.
• In order to achieve predetermined objectives, it is very
important to direct & supervise employees of an organization
effectively.
• In a business unit, planning is done after defining objectives ,
an ideal organization structure is formed , raw material,
machineries are purchased , staff is appointed.
11.
12. CO-ORDINATION
• Co-ordination is required at every stage of management.
• Co-ordination is necessary from planning to controlling.
• Co-ordination gives a sort of an assurance for the
accomplishment of objectives.
• No work remains incomplete or no work is duplicated & thus
the work become easy.
13.
14. REPORTING
• Reporting refers to keeping the channels of communication
open both the ways throughout the organization.
• This helps in reporting the progress of the work to the
superior authorities and lets them make modifications to the
plan if required.
• Similarly, all the essential exchange of information such as
problems of employees, new regulations, appreciation etc.
can be easily shared with the concerned parties thin very less
time and minimal distortions.
15.
16. BUDGETING
• Finance is the lifeblood of any organization.
• Appropriate and consistent account of every penny spent is
crucial for the survival and prosperity of any organization.
• Resources – man, money, material and time – should be
allocated to each and every work center or project in advance
and the employees responsible should be held accountable
for their stipulated usage.
