What are the Functions of Management
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Transcript of What are the Functions of Management
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What are the Functions of Management?
Business
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Henri Fayol (1841–1925) was one of the most influential contributors to modern concepts of management.
What are the functions of Management?
Henri Fayol
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• Forecasting• Planning• Organizing• Commandin
g• Coordinating• Controlling
What are the functions of Management?
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These functions separate the management process from other business functions such as marketing, accounting and finance.Managers have five basic functions - planning, organizing, staffing, directing, and controlling. Managers must plan, or narrow goals from their broadest to most intricate form. They must organize and create a structure for daily tasks and communication.
What are the functions of Management?
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According to Henry Fayol, “To manage is to forecast and plan, to organize, to command, & to control”. Whereas Luther Gullick has given a keyword ’POSDCORB’ where P stands for Planning, O for Organizing, S for Staffing, D for Directing, Co for Co-ordination, R for reporting & B for Budgeting. But the most widely accepted are functions of management given by KOONTZ and O’DONNEL i.e. Planning, Organizing, Staffing, Directing and Controlling.
What are the functions of Management?
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Can You Memorize…
What are the Functions of Management?
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Henri Fayol considers management to consist of six functions:• Forecasting• Planning• Organizing• Commanding• Coordinating• Controlling
What are the functions of Management?
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