Question
Download Solution PDFWhat is the first and most important function of management?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFExplanation:
Management:
- Management is a set of principles relating to the set of functions of planning, organizing, directing, and controlling, and the application of these principles in harnessing physical, financial, human, and informational resources efficiently and effectively to achieve organizational goals.
Functions of Management
- Planning: It is a function of determining in advance what is to be done and what is to do it. It is the first and most important function of management.
- Organizing: It is the management function of assigning duties, grouping tasks, establishing authority, and allocating resources required to carry out a specific plan
- Staffing: It is a function to make sure the right people with the right qualification are available at the right place and time to accomplish the goals of the organization.
- Directing: It involves leading, influencing, and motivating employees to perform the tasks assigned to them.
- Controlling: It is a function of monitoring organizational performance towards the attainment of organizational goals.
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