Objective and Function of business management

Objective of business management

The major objective if management are listed below

i)              To archive the goals or objective.

ii)             To utilize available resources properly.

iii)            To enhance the skill of human resources.

iv)           To make proper plans for future

v)            To improve the level of performance of the employees

vi)           Ro provide better working environment.

Function of management

            Management perform various activities or function of different types of business organization to organization but some fundamental should be implemented by some of the important function are:-

1)    It includes function of planning

Planning is the first function of management. It describes about the future courses of action from the help of planning the management confirm goals and objectives about the business, Determines policies and strategies, fixed standards and allocates required budgets and other resources. The plans are blue prints or drawing of future activities that should be communicated to the lower level employees.

2)    Decision making

It is concern with the implementation of planning. For proper decision making, their should be different alternatives to do some works, the manager should ideas such alternatives, analyze advantage and disadvantage and impact the selection alternatives.

3)    Organizing

Another pervasive function of management is organizing. It refers division of work, specification of job, delegation of authority, departmentation of the organizing, making organizational structure coordinating various types of activities within the organization.etc.

4)    Staffing

It refers or consists job description and analysis recruiting required employees, selection and placement of the employment their compensation management, performance evaluation, discipline maintenance etc are the working areas of staff. Now days staffing is also known as human management

5)    Directing

Another important function of management that is concern with issuing or giving orders, instructions, commands, circulation, are known as directing, according to the directing, the subordinates or employer worker do their activities.

6)    Motivating

It refers inspiring, encouraging and stimulating the followers or subordinates or other people to execute their activities more properly and systematically

7)    Leading or leadership

Leadership is a quality of management that influence the behavior, attitude and way of thinking of the followers. The leadership quality should e acquainted by a manager to influence the attitude and behavior of the followers or employees.

8)    coordinating

Another function of management which links the activities of such departments, such function of management is known as coordinating function.

9)    Controlling

It is concerned with the evaluation of actual performance by the employees. It helps to sets goals, objectives, working path, standards and measure the actual performance to insure that these are inline of per-determined goals and standards. If deviations are found, suchdeviations are corrected immediately.

10) Communicating

It is exchange of knowledge, ideas, information, etc between two or more people units and organizations. The top level management formulates plans, policies, strategies etc such things are communicated to the lower level employees for implementation and fed back from them are also communicated to top level management.

11) Other function

Besides above some more function should be executed  management like, budgeting, reporting, supervising, coordinating etc.