There are five basic managerial functions constituting the process of management.
(1) A manager sets objectives, plans and policies and communicates these to his subordinates who are expected to implement the plans and achieve the stated goals.
(2) A manager organizes, i.e., establishes departments, delegates authority develops channels of authority and communication, co-ordinates the work of his subordinates – thus creates an effective medium to carry out his plans and policies.
(3) A manager leads and motivates his subordinates to secure teamwork and team spirit and uses for this purpose the devices of co-ordination and communication. He provides all incentives and favorable environment. He has to establish the right psychological climate for higher morale and productivity.
(4) A manager controls or checks the work performance through various control devices and takes corrective action, when needed.
(5) Finally a manager develops people – the invaluable and dynamic resource that can give rich dividend in any enterprise.
The process of management is fundamentally the same in all organization involving collective work. Managerial functions are essentially the same regardless of the type of organization or the level of the manager in the organization.
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