rtn Asked: July 18, 20212021-07-18T10:59:18+05:30 2021-07-18T10:59:18+05:30In: CompanyExplain the functions of managementexplain the functions of managementfunctions of management 2 AnswersVotedOldestRecentBest Answer Manu Murthy 2021-07-18T11:11:19+05:30Added an answer on July 18, 2021 at 11:11 am While there are many different models of management, most agree that the primary role is to manage people and give them guidance and resources so that they can fulfill their tasks. It also includes other things like managing operations, managing talent, projecting organizational goals, and fulfilling organizational promises. To help understand the five management functions better, we’ll look at each one in more detail:The first management function is administering. This function involves the day-to-day management of the organization, and it consists of all of the administrative aspects, things like updating HR records, scheduling meetings with managers, and dealing with customers.The second management function is directing. This involves making sure that people are doing their jobs correctly or making changes if they aren’t doing them properly. Also included in this type of management is training them to do their jobs correctly.The third management function is planning. This work involves making plans for the future of the organization, usually long-term plans, and monitoring planned progress. In order to do this process effectively, executives plan for major goals and create plans to reach those goals. They monitor these plans as well and analyze them to see if they are reaching their goals or if they need to make any changes.The fourth management function is coordinating. This involves coordinating all of the work that is being done by each department in a company so that there is an efficient flow of information through the entire organization.1Reply Share ShareShare on FacebookShare on TwitterShare on LinkedInShare on WhatsApp Ramesha Dodmani 2021-07-18T11:09:20+05:30Added an answer on July 18, 2021 at 11:09 am What are Management Functions?Management functions are the duties of a manager. They are generally grouped into three categories: planning, organizing and controlling.Planning refers to activities that help managers to determine what is needed in order to meet organizational objectives, and where the organization can allocate its scarce resources. Organizing refers to tasks that help managers to use their resources effectively by dividing work into manageable parts and allocating or assigning them appropriately. Controlling refers to tasks that help managers evaluate progress toward the achievement of organizational goals, identify variances from expectations, monitor operations for efficiency, effectiveness and compliance with standards or policies.1. Planning and Organizing ManagementPlanning and organizing management is a set of techniques to help people manage their time more efficiently.The following are some of the benefits of effective planning:-Time management-Workload distribution-Reducing stress and anxiety by setting goals-Improved decision making and creativityThe first thing that a manager should do is to identify the goals of a project and then put together a plan for achieving them.2. Leading and Motivating PeopleLeading and motivating people is a key responsibility in any management position. The ability to lead and motivate people is critical to the success of your organization and should be a top priority for every manager. However, the methods of leadership vary depending on individual personalities. This article will outline 10 different styles of leadership, how they work, what makes them successful, and examples from popular culture that showcase them in action.3. Controlling and MonitoringControlling and Monitoring are both important aspects of management. This article will focus on the importance of monitoring, how it is done, and some key points to keep in mind when monitoring.Monitoring is an integral part of management. It helps a manager stay informed about what is happening in the company, which can help them make decisions for their business in the future. Monitoring also provides a way for managers to track progress toward goals. A common way for managers to monitor their staff are through performance reviews.4. Dealing with Workforce Challenges in company managementIt is not easy to recruit workers these days and it is even harder to retain them. The competition for talent is fierce. There are also many benefits that companies can offer to attract and retain workers, but there are also negative consequences such as high turnover costs, lack of opportunity for employees to advance their skills, and a lack of innovation because the workforce lacks diversity which leads to homogenous ideas.Companies need to change their approach if they want their employees stay with them for a long time. They should focus on the well-being of the individuals in order to get greater engagement and motivation from them.5. Developing Plans for ImprovementDevelopment plans for improvement in a company can be developed in various ways. One way is by understanding the company’s strengths and weaknesses. Then, make an assessment using the SWOT analysis technique to see how they can improve on these areas.6. Managing ChangeManaging change is difficult because of the uncertainty and complexity that it entails. There are several types of change, such as organizational, technological, social, political and environmental. However, not all changes are equal. For instance, an organization may be changing their organizational structures while a technology company is dealing with new technologies entering the market. While an individual may be experiencing a political change in their country or region but they are not directly involved in the organization’s change process.0Reply Share ShareShare on FacebookShare on TwitterShare on LinkedInShare on WhatsAppLeave an answerLeave an answerCancel reply Featured image Select file Browse Add a Video to describe the problem better. Video type YoutubeVimeoDailymotionFacebook Choose from here the video type. Video ID Put Video ID here: https://www.youtube.com/watch?v=sdUUx5FdySs Ex: "sdUUx5FdySs". Answer Anonymously Save my name, email, and website in this browser for the next time I comment. Related Questions How the loss will be treated by partners? 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