Search results
Results from the WOW.Com Content Network
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.
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 ...
A management process is a process of setting goals, planning and/or controlling the organising and leading the execution of any type of activity, [1] such as: A project (project management process), [2] or; A process (process management process, sometimes referred to as the process performance measurement and management system) [3]
Project management – discipline of planning, organizing, securing, managing, leading, and controlling resources to achieve specific goals. A project is a temporary endeavor with a defined beginning and end (usually time-constrained, and often constrained by funding or deliverables), undertaken to meet unique goals and objectives, [ 1 ...
Planning – examining the future and drawing up plans of actions; Organizing – building up the structure (labor and material) of the undertaking; Command – maintaining activity among the personnel; Co-ordination – unifying and harmonizing activities and efforts; Control – seeing that everything occurs in conformity with policies and ...
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]
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 ...
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.