In: Accounting
1.
Describe the three management functions commonly executed by
managers within their organization.
Ans :
Simply, management is getting things done through others. Planning, organising, staffing, directing and controling are the major functions of management.
3 management functions mainly executed by managers in an organisation:
1) Planning-
Planning means thinking in adavnce , What is to be done, when is to be done and for whoom it is to be done. Without a proper strategic plann everything becomes meaningless. One of the essential required for the plann is it's flexibility. A plann must be flexibile in nature according to the organisational changes. Managers do plann for sales targets, finance and for better tomorrows.
2) Staffing-
Staffing is the process of filling positions in the organisation through recruitment and selection. Human resource is very essential for each and every kind of business. In the absence of human resource no business will survive for a long period of time. The manager identifies the potentials required for the humans and integrating it with staffing function.
3) Controling:
Without controling planning become meaningless. Here the manager establish a standard of work and he will measure the actual performance, if any deviation is there the manager will take decision to remove the small variations. If the variation is high, It is the responsibility of the manager to inform the toplevel management.
Inaddition to this, there are lots of functions, features , strategies are there in management. All those things increase the efficency of the overall growth of the business.