Functions of Management - POSDCORB - Edupedia

 

Management:

Management is considered as key to success of the organization and has most crucial roles in guiding the work force towards the goals. It also plays some vital roles in decision making process. So, the management consists of the intellectual personals that are competitive to their allocated jobs and plays a key role in the administration of the organization.

Definition:

            Management is the set of the principles related to the planning, organizing, controlling and directing the matters of the organization.

Functions of management:

            Management performs numerous functions in different disciplines within the organization and outside the organization. The functions of the management contains managing the different affairs and matters for proper functioning  of the human and financial resources of the organization which leads to get objectives of the organization. The functions of the organization are comprised in a simple term, famously known as “POSDCORB”. The term is very conceptual which gives detail knowledge about the functions of the organization head to tail.

POSDCORB stands for:

v    P for Planning:

v    for Organizing:

v    S for staffing:

v    D for directing:

v    Co for Coordinating:

v    R for Reporting:

v    B for Budgeting:

 


Planning:

            Planning is the most initial stage of the management. In this stage the work of management is to make the initial plans for the project. Planning of the financial and human resource is also included in this step. Management plans from where we have to raise the fund and where it should be allocated with efficiency. Management also make decision about right person for right job. The other crucial and fundamental decisions are also considered as planning.

Organizing:

            Organizing means to establish a system, the complete procedures of how the work on the project will be done is declared. The management builds the whole system according to the nature of the project. Right person is fit to the right job in a structural way. Departmentalizing also done in this step, management defines the steps of the working and engages it to different departments according to the nature of the work.

Staffing:

            Staffing is also a crucial function of the management; it means to hire the human resources for the organization. In this step the management tries to hire the best fit and suitable workers which are required to complete the task. Hiring is done by advertising on media platform describing the job descriptions on the advertisement. The more the competent works will lead to more efficiency in the work and more competitive advantage.

Directing:

            Once the human resource which is required for the organization is hired, next step is to direct and guide them to the work. In this step the workers are allocated to the jobs to complete the projects according to their expertise. The directions of the higher level administration, management and the workers are well defined to achieve the expected goals.

Coordinating:

            Coordinating is also an important function of the management. Proper coordination is required for a smooth work on the project. Strong coordination between the management and the worker assures the successful completion of the project. During the work on project there may be hurdles and difficulties in the way. So, the proper coordination will help the management and the workers for better understandings. Coordination makes a supportive environment in the organization so it will lead to good manners in working environment and lead to efficiency.

Reporting:

            Reporting of the work done, means to feedback to the top level management. Step by step reporting is also the function of the management. Reporting is very helpful for the management for further work on the project and decision making. If there is any flaw or gap between the expected and actual results management can timely work and make some crucial decisions required for effective workings.

Budgeting:

            Budgeting involves the budget making process and especially financial matters which is also a key to work on the projects and complete it economically. In this process management makes decisions about from where the finance will be generated and on which field it can be allocated to get most efficient results. Without budgeting the management work can never be efficient.


Related Articles !

Human Resource Management

Function of HRM

Organizational behavior

Management by Objectives (MBO)

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