Management can vary in scope, but it mainly refers to enterprises. In a company, there is quality management, financial management, and human resource management. Management is about setting and implementing objectives. It is a continuous process of decision-making, which involves preparing decisions, then selecting one of the possible actions and delegating it to the executors, and controlling and regulating it in the course of implementation.
Making and implementing decisions requires several activities, which are referred to as management functions. These include planning, motivating, organizing, and controlling. Management is the process of continuous formulation and flow of information and decisions between the manager and the managed.
Management functions are:
- planning i.e. designing the future and effective means of implementation. Plans set the organization’s objectives and determine the best way to achieve them. Planning is a specific type of decision-making, dealing with that particular future that managers want for their organization. The planning of an enterprise’s activities must take into account, first and foremost, the anticipated situations in its environment and be in harmony with its mission, as well as taking into account the wide-ranging resources at the enterprise’s disposal (technical, production, personnel, financial and others). A distinction is made between current and strategic planning.
- motivation boils down to creating situations that encourage employees to carry out activities that serve the objectives and tasks of the enterprise as a whole. Motivation triggers direct and reinforces the actions of the enterprise’s employees.
- organizing involves determining and coordinating the activities of all the enterprise’s organizational units and all the people working in it so that the enterprise achieves its aims and objectives as efficiently as possible. In organizing the enterprise’s activities, the division of labor among the employees is established, detailed tasks are assigned to them, the necessary resources are provided, procedures are established, activities are coordinated and decision-making powers are defined.
- controlling refers to checking whether the actual course of the enterprise’s processes is in line with the planned one. This usually takes place by comparing the results obtained with the assigned tasks, programs, benchmarks, and standards, and, if deviations are found, correcting the enterprise’s activities.