What are the Functions of Management?

What are the Functions of Management?

The first function of management is planning.

The planning works out in broad outlines of the things that need to be done and the methods of doing them in an orderly manner.

Planning for an objective is like the sketch of a building.

Just as a building cannot be erected without a good sketch and other preparatory arrangements,

so also a business cannot function properly without a plan.

Planning, of course, includes some amount of forecasting and decision-making.

Forecasting is the process of assessing future Decision making will diagnose the problem develop and evaluate alternatives and select the best course of action.

Once the plan is formulated then there is a need for organizing.