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Management is the act of allocating resources to accomplish desired goals and objectives efficiently and effectively; it comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal.
POSDCORB is an acronym widely used in the field of management and public administration that reflects the classic view of organizational theory. [1] It appeared most prominently in a 1937 paper by Luther Gulick (in a set edited by himself and Lyndall Urwick).
According to Fayol, management operates through five basic functions: planning, organizing, commanding, coordinating and controlling. Planning: Deciding what needs to happen in the future and generating action plans (deciding in advance). Organizing (or staffing): Making sure the human and nonhuman resources are put into place. [64] Commanding ...
From these definitions, it can be stated that there is a close link between planning and controlling. Planning is a process by which an organization's objectives and the methods to achieve the objectives are established, and controlling is a process that measures and directs the actual performance against the planned goals of the organization.
Organizing, is the management function that follows after planning, it involves the assignment of tasks, the grouping of tasks into departments and the assignment of authority with adequate responsibility and allocation of resources across the organization to achieve common goals. Organizing involves the establishment of an intentional ...
According to Fayol, the five functions of management are planning, organizing, commanding, coordinating, and controlling. Without proper business management, a firm cannot utilize its resources properly so, it is the most important term in running a business firm. [5]
Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. Management process – is a process of planning and controlling the performance or execution of any type of activity.
Office management is the technique of planning, organizing, coordinating and controlling office activities with a view to achieve business objectives and is concerned with efficient and effective performance of the office work. The success of a business depends upon the efficiency of its office.