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What is Management?
One way of looking at management is through people who compose the
organization. In this manner, it may be considered as the people responsible for
the actions in the organization. Management is the planning, deciding, or
exercising of control and supervision on some functions of the organization.
According to Miranda, author of the book Principles of Management, it is the
function of executive leadership that is directing the business toward the
attainment of company objectives.
MANAGEMENT PROCESS
1. Planning
2. Organizing
3. Staffing
4. Directing
5. Controlling
Planning - it is the most basic of all management functions. It is the process of
combining all aspects of the organization. It is a mental process of determining
what is desirable and how it can be achieved.
There is no single blueprint or formula for planning that is applicable to all
organization.
According to Koontz and O'Donnell, there are Three Basic Stages of Planning.
1. Formulating Objectives- state precisely what results are to be accomplished by
some future date.
2. Taking action- follow pre-determined plan of actions to fulfill objectives.
3. Appraising results- measure the result achieved against original goals. Take
whatever corrective action is necessary.
Planning is also subject to certain limitations. Prominent along this limitations
are the following:
1. Formulating accurate forecasting.
2. Effects on Human Psychology
3. Changes in the socio-political climate.
4. Availability of time.