Planning is determination of courses of action to achieve desired goals.

It is an exercise in problem solving & decision making.

It bridges the gap from where we are & where we want to be. It deals with chalking out a future course of action & deciding in advance the most appropriate course of actions for achievement of pre-determined goals.Īccording to KOONTZ, Planning is deciding in advance - what to do, when to do & how to do. Each function blends into the other & each affects the performance of others. Planning, Organizing, Staffing, Directing and Controlling.įor theoretical purposes, it may be convenient to separate the function of management but practically these functions are overlapping in nature i.e. Whereas Luther Gullick has given a keyword POSDCORB where P stands for Planning, O for Organizing, S for Staffing, D for Directing, Co for Co-ordination, R for reporting & B for Budgeting.īut the most widely accepted are functions of management given by KOONTZ and O∭ONNEL i.e. planning, organizing, actuating and controlling.Īccording to Henry Fayol, To manage is to forecast and plan, to organize, to command, & to control. According to George & Jerry, There are four fundamental functions of management i.e. Rather these activities are common to each and every manger irrespective of his level or status.ĭifferent experts have classified functions of management. These activities are different from operative functions like marketing, finance, purchase etc. It is a dynamic process consisting of various elements and activities. Management has been described as a social process involving responsibility for economical and effective planning & regulation of operation of an enterprise in the fulfillment of given purposes.

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