Characteristics and Functions of Management
Characteristics of Management
The following are the characteristics of management:
• management is an art as well as a science
• it is an activity of effective utilisation of available resources
• it is a continuous process
• each activity in management is directed towards the achievement of pre-determined objectives
• it is a group of organised activities
• it is a factor of production
• it is a system of activity
• it is a discipline
• it is a purposeful activity
• it is a distinct entity
• it aims at maximising profit
• it helps in effective decision making
• it is a profession
• the principles and practices of management have universal applications
• it is dynamic in nature
• it is needed at all levels
• it is the function of executive leadership
Functions of Management
The various management functions are classified as below:
• Planning: It refers to the future course of action and is a primary function of management.
• Organising: It is the distribution of work in a group or a section for effective performance.
• Staffing: It consists of activities related to the selection and placement of right people for right jobs.
• Directing: This is a process where the manager influences the work of his sub-ordinates. It includes guidance,
supervision and motivational aspects of the employees.
• Co-ordinating: It is a process of synchronizing activities of various people in the organisation in order to achieve goals.
• Motivating: Motivation is one of the key factors for the speedy and effective performance of employees which is taken care of by resourceful leaders.
• Controlling: It deals with the process of verifying that the achieved goals are in order with the pre-planned objectives. In case of deviation corrective measures are taken.
• Innovation: It includes developing new services, techniques, products and so on to cater to the changing need of the consumers and the market.
• Representation: It is a function where a manager has to deal with the customers, suppliers, government officials, banks, financial institutions, trade unions etc. as a representative of the company.
• Decision-making: It helps in functioning of organisations as every employee has to take certain decisions on everyday basis.
It refers to the exchange of information for the frictionless regulation of job and coordination of the activities.