Function of Management: In 1937 L. Gulic and L. Urwick in “papers on the Science of administration” listed seven functions of management. They coined the acronym POSDCORB for the same. This stands for Planning, Organizing, Staffing, Directing, COordinating, Reporting and Budgeting.
a) Planning: Plan is regarded as a “projected course of action”. According to Koontz and O’Donnell, planning is deciding in advance what to do and how to do it, when to do it and who is to do it. It involves developing objectives, strategies, policies, procedures, programmes, etc.
b) Organizing: Organizing means establishing of a formal structure of authority, which is well defined and co-ordinated towards the attainment of specific objectives. At this stage the objectives are set, methods are formulated, process of implementation are fixed, papers are ready, decision for doing the job is taken and all necessary steps are taken to perform the job.
c) Staffing: Staffing refers to the human resources already existing in the organization and the new recruitment. The manager should assess the existing man-hour and capabilities of the existing persons employed. If required their duties may be reorganized for yielding better service. They should have in service training and continuing education to improve the capabilities and expertise. The right person should be in the right place with the right job. When required new person should be recruited having desired academic background and adequate training with proper aptitude and motivation. Further for getting the best result the working environment should be congenial.
d) Directing: Directing is defined as the continuous task of taking decisions and incorporating them in specific and general order and serving these orders. That’s why directing involves overall administrative control. It is the administrative command over the affairs. In this sense directing is taking the leadership over all the maters as a whole for the present as well as for the future. Directing not only means just to issue the order but also to motivate the staff to get the best result.
e) Coordinating: Coordinating in an organization is balancing and interrelating of the various parts of organization and keeping together all the staff for getting the best result with the minimum resources at hand. In any organization the division of work is distributed and at every stage a person is responsible to somebody for his performance and jobs to be done by him. The staffs are generally responsible to their immediate superior. There are various work units, sections and divisions for respective responsibilities but for proper coordination all these individual units must be interrelated and works should be done in a chain system, one after another.
f) Reporting: Reporting is the way to keep the authorities and the concerned public informed about the performance, achievements and shortfall of the organizations. It is a means of keeping informed to whom executive is responsible as to what is going on, which thus include keeping himself and his subordinates informed through records, research and inspection. Reporting is the preparation of factual data of the work done in a unit or section. These unit or section reports are amalgamated to prepare the full report of the working of the institution for a given period. The report is then transmitted to the top administrative body. The report contains the work done in various units, any progress made, constraints felt and the suggestion to overcome these, any backlog in the work and the reasons thereof, actual work done with statistical figure and the like.
g) Budgeting: Budgeting is defined as “an estimated often itemized or expected income and expense or operating results for a given period in the future. Budgeting is the preparation of financial estimate for the next financial year, anticipate allotment for the present financial year and showing the actual expenditure incurred in the previous financial year. It involves receipts and expenditure as well as accounting, financial control and financial planning.
In addition to the above mentioned functions the following two functions are considered essential for an efficient management.
h) Control: The chief of any institution has to control effectively his subordinates. He has to inspect their work personally. He has to keep an eye upon the methods of performing specific jobs assigned to individual workers, the end products and overall cost of productions / services. He has to ensure best quality and maximum quantity of work from his worker.
i) Motivation: The aim of an organization cannot be achieved unless its workers perform their jobs willingly and conscientiously. So to do the same the worker must be motivated by providing congenial service conditions and environments. An individual can be motivated by two kinds of needs – Basic needs and those that is socially determined and that both of these must be satisfied to allow emotional maturity. The motivation of personnel through promotion, recognition and incentives create proper environment for employees to put in their best effort.