Question

Please read below question and give the answer

Write in your own words ---- own words minimum 500 words limit

1. What are four functions of management and how would innovation affect these function in an organization?

Note: Please include the references and write in your own words.

Answer 1

Functions Of Management

Starting from the industrial revolution the way any industry operates has changed. Due to Henry Fayol, FW Taylor the way the management operates has changed. We can put the functions of management into 5 headings.

1) Planning

It deals with the process of planning the organization goals, vision, mission etc. It is based on the business model on which the company operates.According to KOONTZ, “Planning is deciding in advance - what to do, when to do & how to do. It bridges the gap from where we are & where we want to be”.

2) Organizing

It is the process of bringing all the resources in an organized way and assigning duties and responsibilities to the same or how it will be organised within the organization. This includes

• Identification of Activities
• grouping the activities
• Assigning responsibilities
• Responsibilities

3) Staffing

It includes the identification of right people and assigning the right job. The main function of staffing is Manning, Remuneration, Training and developent, Appraisal syatems etc. In recent times staffing function has gained more importance due to advancement in technlogy.

4) Directing

It is the process of taking the team towards the organization goal. This includes motivation, leadership, communication etc.

5) Controlling

This is the process of identifying the gap between actual and planned. This involves the corrective action action, Measuring the performance, establishing standard performance etc.

Reference:https://www.managementstudyguide.com/management_functions.htm