Explain the following terms/concept.
Management is a set of principles which relate to the various functions such as planning, organizing, staffing, directing, coordinating, controlling etc. which are helpful in achieving organizational goals. According to Henry Fayol, “To manage is to forecast and to plan, to organize, to command and to control.”
Planning is the basic function of management. Every function of management is based on planning. It includes deciding the things to be done in advance. Planning is an intellectual process of logical thinking and rational decision making. It focuses on the organization’s objectives and develops various courses of action. Designing proper planning and implementing accordingly is the key to achieving the objectives of an organization.
In short, planning is a detailed program of future courses of action.
Organizing is the process of identifying, bringing the required resources together such as men, money, material, machine and method, grouping, and arranging them properly for achieving the objectives. In planning, the management decides what is to be done in the future whereas the organizing function decides the ways and means to achieve what has been planned. This function is important for the execution of the plans which have been prepared by top-level management people.
The synchronization and combination of the workforce, physical, financial, and information resources are established in the process of organizing.
Staffing is the function of execution according to plan and organizational structure. It is the process of attracting, recruiting, selecting, placing, appraising, remunerating, developing, and retaining the best workforce.
The need for staffing arises since the initial period of the organization. Due to promotion, transfer, business expansion, retirement, resignation, accidents, death of employees, etc. vacancies are created in the organization. In this context, the staffing function plays a very important role in the organization. The right person at the right job with the right pay is the basic principle of staffing.
Directing is the soul of management function. It is the process of instructing, guiding, communicating, inspiring, motivating, and supervising the employees to achieve the predetermined goals of an organization. The direction is a continuous function initiated at the top level and flows to the lower level through the organizational hierarchy. It is a continuous managerial process that goes on throughout the tenure of the organization. Director is the person who shows the correct path as well as guides the employees in solving the problems wherever necessary. A few philosophers called direction as “Life Spark of an Enterprise”.