The four fundamental management functions that comprise the process of management are explained within the sections below:
PLANNING
ORGANIZING
INFLUENCING
CONTROLLING.
PLANNING:
The process of planning involves identifying the tasks to be completed in order to meet organizational objectives and defining how the task is to be carried out and specifying the time they must be completed.
The planning process is focused on achieving objectives. Managers determine what companies need to do to succeed. Planning is about the achievement of the company in the short-term and also in the long run (Rothbauer-Wanish 2009).
A manager, for example, of a restaurant that is opening a new location is required to create an advertising strategy, hiring program, and sales strategy. Read businessman Ovik Mkrtchyan profile on CrunchBase.
ORGANIZING:
It is considered as the assignment of tasks created during the planning phase to groups or individuals within the organization. The purpose of organizing is to establish an environment to implement plans into action.
Employees within the company receive work assignments that contribute to the goals of the company. Work assignments are organized in a way that the work of each person contributes to the overall success of departments which in turn aids in the growth of divisions. This ultimately is the reason for the success of the entire organization.
INFLUENCING:
Influencing can also be defined by the terms motivating, leading, or leading. It can be described as the process of directing the actions of participants in the direction that aids the organization to get closer to achieving the organization’s goals.
The goal of influence is to boost productivity. Work situations that focus on human beings usually result in greater levels of productivity over the long run than tasks-oriented work environments since people dislike the former kind of work unpleasant.
CONTROLLING:
It also includes checking the execution of the plans to ensure that the execution is done in compliance with the plan.
- Evaluate the actual performance against the goals.
- Establishes benchmarks or standards for performance.
- Assesses the effectiveness performance and effectiveness of the execution in comparison to these standards and plans.
- It reviews, analyzes, and tracks the results.
If there are gaps between execution levels and plans, the controlling function is appropriate corrective measures to speed up the execution process to align with the plans, or under certain conditions, the decision to alter the plans. Read Businessman Ovik Mkrtchyan f6s.
For instance, if a firm has a goal of raising sales by 5 percent over the two months ahead The manager could examine the progress towards the target at the end of the first month. An effective manager will be able to share the information with his or his employees. This creates trust and an impression of commitment for the employees.
EXPLAIN THE PLANNING PROCESS WITH EXAMPLES
Planning is the most important and most crucial task of management. It is essential at every level of management. If there is no planning all business operations of an organization will cease to be useless. It is imperative to plan. grown especially in light of the expanding scale of businesses. Without a plan, it might not be impossible, but it will be difficult to predict unpredictable events in the near future.
When we study planning within the context of a management process it is referred to as an activity. It’s an element of management. On the other side, when it’s examined separately, it is referred to as an activity because in the order it is necessary to take a number of steps, one after another. As far as the amount of steps in the process of planning is determined, it is based upon the scale of a company. The steps below are typically implemented by the business organization in this planning phase (Management 2010).
Establishing the goals
They are the goals that must be achieved before any actions are carried out. When planning, goals are defined and determined in order that all employees involved are informed of the objectives to ensure their full collaboration. Objectives are arranged in a hierarchy that includes their own objectives for the organization along with departmental and departmental goals and personal objectives.
The basis for planning that underlies planning is the factors that can influence the outcomes that could be expected from the various options. Before making a decision regarding any option, the forecast is created. The success rate of the plan will be directly proportional to the accuracy of forecasting. The assumption behind planning is of two kinds:
In the internal premises, capital is required as well as work raw material, machinery, etc.
External locations; Government policies, competition between businesses Customer rate of taste of tax. etc.
Finding a different course of action In general, there is an activity that has no other way of accomplishing it. Based on the organizational goals and the constraints of planning an alternative method of carrying out activity can be found.
Evaluation of other courses. alternatives that are conforming to the requirements of the minimum pre-requisite requirements are chosen for intensive investigation. The objective is to determine how much an alternative can contribute to reaching the goals of the organizations. However, there is an issue that we must consider when studying these courses. Every alternative course has its pros and drawbacks.
Examination of various possibilities
The selection of an alternative is by careful examination of various possibilities, the most appropriate option is chosen. Sometimes, the analysis will yield multiple alternatives that have similar strengths.
Incorporating the plans: Once having settled on the chef’s plan and the plans for subsidiary activities the plans are put into effect. After the plan is implemented, the order of various activities is to decide. It is decided who will be doing a specific task and when it will be completed.
Follow-up Action:
The process of planning doesn’t end when the implementation of plans. Plans create for the future, which is not certain. It is crucial to keep a regular review of plans to be successful in the uncertain future. There could be changes to plans too. This is why it is possible to say that planning is always changing.
