Certificate

This is to certify that Miss. BANDANA SAHU bearing Roll

No. 287EA of +2 2nd year Commerce has successfully

completed the Accountancy Project for Annual Higher

Secondary Examination 2020 as per the guidelines of C.H.S.E,

Odisha.

It is further certified that this project is the individual

and bonafied work of the candidate.

Teacher’s Sign. :

Teacher’s Name : Mr. Sudhansu Kumar Tripathy

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 ABSTRACT

This project of mine is all about the function of management i.e. POSDC and its

evolution .The idea of function of management was developed by HENRY FAYOL .These

functions serve as the key of management in all levels .The five function of management are

planning, organizing, staffing, directing and controlling which are linked to each other .This

project also consist of the essential features of these function. All these functions are described

clearly with appropriate headings and some key features are also highlighted .This project is

written in a very understable manner so that even a person who is not versed in management

function can also understand it. Throughout the project you will find all the necessary functions

of management with punctuations. Page numbers in each page has been mentioned. Hope I will

cherish your mind when you will read it.

BANDANA SAHU

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 ACKNOWLEDGEMENT
Inspiration and hard work always play a key role in the success of any

venture. At the level of practice, it is often difficult to get knowledge without guidance,” project

is like a bridge between theory and practice.” with this i felt pleasure to undertake this project.

Objective of the project is to expose in students to the real world of business.

There is always a sense of gratitude which one expresses to other for the helpful

and needy services rendered during all phases of life. I would like to do so as i really want to

express my deepest gratitude towards all those who have been helpful to me in getting this

mighty task to a successful end and i too thank to god for providing me with everything.

I am highly indebted to the teacher in charge [Link] KUMAR

TRIPATHY for his guidance and constant supervision as well as for providing necessary

information regarding the project and also for his support.

I express my gratitude towards principal [Link] RAO, my parents for

heir kind co-operation and encouragement which helped in completion of project .my thanks to

my classmates who have would like to willingly helped me out their abilities.

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[Link] PARTICULARS PG NO
1 INTRODUCTION 1
2 PLANNING 3
3 ORGANISING 5
4 STAFFING 6
5 DIRECTING 7
6 CONTROLLING 8
7 BIBLIOGRAPHY 10

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INTRODUCTION:-

Management is an aspect of the business that doesn’t have the same specific duties some

of the other parts of the business have. While an accountant will always know quite clearly the

expertise and responsibilities he or she has, a manager needs to have a much broader set of skills,

with the tasks ranging depending on the business.

Yet, management like all the other parts of the business have certain functions to guide

the operations. In this guide, we’ll talk about these functions, first by looking at the definition of

management and then moving on to present popular theories regarding the functions of

management. You’ll also be able to read about the five functions core functions – planning,

organizing, staffing, directing and controlling – and why they are important and how you can

achieve them with your management.

DEFINING MANAGEMENT
Management is a process with a social element. It requires the efficient use of resources

combined with the guidance of people in order to reach a specific organizational objective. It

involves responsibility to achieve the objectives and to fulfill specific organizational purposes

through economical and effective planning and regulation. It’s about taking charge and ensuring

focus is placed on the things and aspects of the business that help achieve the vision and the

goals.

In essence, management is about a dynamic process, with a number of elements and

activities as part of the process. The dynamic and social element of management mean the

functions of management are separate from operational functions

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 The functions remain the same, yet are essentially different depending on the

organizational hierarchy. A manager at the senior level will be involved in different activities

than the manager at the junior level. The core concepts might be the same, but they are dynamic

in manifestation. On the other hand, operational function of marketing will change according to

the organization, the person in charge and the operational goals.

THE FAMOUS THEORIES ON THE FUNCTIONS OF MANAGEMENT

Since management involves solving the problems within an organization in order to reach

the desired objectives, the focus is on understanding the functions that make up the process. As

experts began studying and theorizing the essence of management, different ideas and concepts

regarding the functions were born.

Henri Fayol
Henri Fayol was the first to attempt classifying managerial activities into specific

functions. The French engineer established the first principles of the classical management

theory at the start of the last century. Fayol is considered the founding father of concepts such the

line and staff organization. When Fayol developed his strategies and ideas, managers in

organizations didn’t have any kind of formal training and therefore Fayol’s ideas were ground-

breaking.

As Fayol also defined the five core functions of management, which are still used and

which form the basis of much of the later theories. To Fayol, manages is a process, which

includes forecasting, planning, organizing, commanding and controlling. These functions help

the management to solve problems in the relationship or within the organization in a creative

manner.

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 Harold Koontz and Cyril O’Donnell
In 1976, Harold Koontz and Cyril O’Donnell published an essay Management: A Systems

and Contingency Analysis of Managerial Functions. They felt the previous studies have been

effective in describing the functions, but believed the division should be more detailed. Koontz

and O’Donnell believed there to be five key functions of management.

 Planning

 Organizing

 Staffing

 Directing/Leading

 Controlling

These five functions of management have become perhaps the most cited and they are

explained further in the following section. Overall, the quick outlook would hopefully have

highlighted the alignment of the functions of management in different management theories.

THE FIVE FUNCTIONS OF MANAGEMENT

plan towards achieving a specific organizational objective. When you are planning, you are

identifying the tasks, which are required to achieve the desired goals, outlining how the tasks

should be performed, and identifying when and by whom they must be performed. The focus of

planning is about achieving the objectives and it does require knowledge of the organization’s

objectives and vision. You must also identify the timeline for these processes. As you might

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realize, planning is on on-going function. Management will regularly have to plan the future

tasks and adjust the plans based on the organizational situation and the achievement of previous

goals.

WHY IS PLANNING ESSENTIAL?

In effect, planning ensures the proper utilization of the available resources and the ability

to understand how these should be used in order to achieve the goal. In the example of the

interview, the planning helps you take advantage of information on company websites, research

interview questions and to then use this information to outline example answers.

HOW TO PLAN?
Planning is an intellectual activity that doesn’t always require a lot of visible labor and

effort.

Gain knowledge of the issues – You need to understand the organizational objectives, the

different components they involve, and the available resources you and the team have. You also

need to be knowledgeable of the topic at hand. In terms of increasing sales, you need to have an

understanding of how the sales industry works and what different methods Look into the

Determine the objectives – Once you are aware of the organizational objective, the resources

available, and the future outlook to achieving the objectives, you need to identify the specific

processes and detailed goals that are required to achieve the bigger goal. You might want to 

increase sales, which requires the team to conduct market research and to come up with ideas.

The more detailed objectives and processes you can set, the better the plan is.

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ORGANIZING

The next function of management follows planning and it is about organizing. It’s about

using the plan to bring together the physical, financial and other available resources and use them

to achieve the organizational goal. If your task were to increase sales, you would look at the plan

and determine how to divide the resources you have in order to put your plan in place.

The marketing campaign would be handed out the Becky and you would provide them

with the financial resources available and needed to give birth to the campaign. You would also

need to ensure the team has access to the customer files in order to utilize vital information.

You’d then direct Danny and his team to calculate the possible reductions you can make, help

them have the resources to determine which products are best to discount and so on.

Depending on your management level,  and resources to organize. The top-level

managers need to organize the teams below them, while the lower-level managers will be partly

taking orders for effective organizing from the managers above. Organizing is a vital part of

ensuring the company can function effectively and it concerns the day-to-day activities.

WHY IS ORGANIZING ESSENTIAL?

the operations. You are aware of the resources and you ensure they are used in a manner that best

helps the company to achieve its targets.

Without organizing, resources wouldn’t necessarily work towards the operational goals.

While you might have the team still doing tasks, the tasks might not be the correct ones for the

situation. Consider you are a manager of a team in a café. When you organize the team to

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 perform the tasks required to boost coffee sales, you have each person working towards the goal.

Jerry might be greeting customers and telling them about the new coffee flavour, while Dina and

Jack are working to make the sale and the coffee as quickly as possible.

HOW TO ORGANIZE?

 Identify activities and classify them – The step is straightforward enough because you already

have a plan. Your objective is to identify the different roles, processes, and activities required to

achieve the objectives. These would be the roles for the team members, the different tasks each

role would need to perform and the specific processes the tasks would include.

 Assign the duties and resources–Once you’ve identified the above, you would begin organizing

the resources. You would assign the specific tasks for the persons you feel are the most qualified

and provide the resources to the processes, which most need them.

STAFFING

The staffing function is an increasingly important function of management, although it is

sometimes left out when the core functions are discussed. It can be seen closely related to

organizing, with both focused on ensuring the resources are directed to the right processes and

tasks. For staffing, the focus is on people and their labor in relation to the organizational

objectives. You would essentially be looking at the tasks ahead of you and determining who

should do what and if you have the right manpower to achieve the objectives you want.

WHY IS STAFFING ESSENTIAL?

As the above showed, staffing importance as a core function of management has

increased in the past few decades. But having the right amount of staff and the right people doing

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 the required roles isn’t just crucial because of changing technology of enhanced focus on

complex human behavior. Staffing is essential to guarantee the operational functionality of the

organization.

Staffing also guarantees the staff you have is qualified to perform the tasks and that they

are adequately supported in those roles. This will further deepen the organizational efficiency,

since people are motivated and qualified to work towards the common objective.

HOW TO STAFF?

 Manpower planning – You need to stay on top of staffing, as manpower requirements can

change from season to season. Planning would see you make estimations of the number of

employees you need, searching for the right kind of employees, and hiring the perfect employees

to the roles in front of you.

 Recruitment, selection and placement – Another key function is the actual recruitment process,

with its various steps.

 Training and development – Staffing also includes the creation of structures, which ensure the

employees are always on top of the latest skills in the position and the industry. You should also

consider training programs in terms of succession, as you need to ensure the next generation of

managers and leaders is coming through your organization.

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 DIRECTING

The fourth function is known as directing, sometimes also referred to as the influencing

or the leading function of management. Directing is about the actuation of the methods to work

efficiently to achieve the set organizational objectives. The function goes beyond organizing the

employees to their specific roles and involves ensuring they are able to perform the tasks through

a variety of means. Directing in essence is looking after productivity and ensuring productivity is

going up instead of decreasing.

The function of directing has strong links to things such as leadership. A good manager

will be able to inspire the workforce to work towards the goals not because they have to do it, but

because they are driven to achieve these objectives. The manager’s role is not just about ensuring

the workplace has the right resources and employees know what they are doing; it’s also

important to create an environment of friendship.

HOW TO DIRECT?

 Supervision – You need to oversee the work your employees are doing. The method requires

watching and monitoring the performance, but also supporting and guiding the employees when

things are not going as planned. You could use evaluation reports, examine the quality of work,

and be present during certain parts, such as team meetings or when the person is talking to

clients. In terms of support, you want to discuss the work and how it’s moving along. You also

want to provide materials that can help the employee perform better.

 Communication – Directing is built around effective communication. As a manager, you need

to create an environment that supports different communication methods from passing

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information to exchanging opinions. The important thing is to ensure these different

communication channels are not just between manager and subordinate, but also between

employees and different management levels.

CONTROLLING
The final function of management is controlling. The function ensures the other four

functions are followed correctly and the flow of work is moving the organization towards the

objectives it has set itself. As Theo Haimann 

“the process of checking whether or not proper progress is being made towards the objectives

and goals and acting if necessary, to correct any deviation“.

Controlling requires you to examine the objectives in a measurable manner. You

essentially need to set standards, which guarantee you know exactly what you want to achieve

and what counts as success or failure.

WHY IS CONTROLLING ESSENTIAL?

Controlling most important function is the risk-reduction ability. Since you are essentially

monitoring the performance of the team and comparing it against the objectives you’ve set, you

can react to problems more easily. Instead of realizing at the end of the month that you’ve missed

your sales target by a huge margin, you can keep on eye on the situation during the process.

HOW TO CONTROLL?

For controlling to be effective, you need to take the four steps of this specific function of

management:

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 Establish standards of performance – You first need to establish the standards of performance

you are aiming for. These must be set with the organizational objectives in mind. You look at the

objectives and the plan you have set, creating a set of measurements that would tell you are on

the right path. For example, let’s say you want the manufacturing team to make 10 more shoes

every day to boost productivity. Your first measurement would be the team creating 10 shoes,

but you could include other factors to the set of standards

 Measure the actual performance – Once you’ve set the standards and you’ve set the new

processes in motion, you can start monitoring the actual performance. The monitoring process

will depend on your standards and the ease of measurement. Part of the process can be

performance reviews, actual quantifiable data and so on. The key is to start collecting the

information from the start.

FINAL THOUGHTS

Henry Fayol developed his ideas regarding the functions of management and his theory

has largely shaped the current understanding of the core elements any management would have

to perform. The functions are key to management in all levels, from the entry positions to higher

roles of management.

Furthermore, each five functions – planning, organizing, staffing, directing and controlling – are

linked to each other. In order to use one function, you typically need to follow with another or have

established one beforehand. By studying the above, you have hopefully identified the areas you need to

develop and gain more knowledge& its chances of success.

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 BIBLIOGRAPHY

1. www. functions of [Link]

7. [Link]:[Link]::2017:BUSINESS STUDIES AND MANAGEMENT:29-46

8. JOURNAL 1. FAMINA

2. COSMOPOLITIAN

3. INSTYLE

9. NEWSPAPER 1..INDIAN TIMES

2. THE HINDUSTAN TIMES

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