What is meant by the Five Functions of Management?
Five Functions of Management defines the five most significant aspects of managerial power. At the most fundamental level, it includes five aspects: commanding, planning, organizing, coordinating, and controlling. These 5 administrative principles are considered as the most significant aspects of the modern concept of management, even though people don’t refer to all the 14 Principles Of Management today. Akin to all the other activities that your company has to undergo, the management process also occupies an important place of its own.
Managing or supervising is not a skill that everyone possesses. Therefore, whenever you train a new employee from outside, you can use these Five Functions of Management Theory to make them masters in their respective areas. Moreover, it is important to point out that this comprehensive administrative theory focuses on the key relationships between employees and management.
Who Proposed the Five Functions of Management?
Five Functions Of Management is an administrative theory explained by Henri Fayol in 1916.
Henry Fayol (1841-1925) was a French Engineer who developed a general theory of business administration, widely known as Fayolism. This Five functions of management theory by Henry Fayol is considered as one of the earliest theories of management proposed till now and one of the most comprehensive administrative theories.
What are these Five Functions of Management?
Henry Fayol’s five primary functions of management that moves hand in hand are as follows:
- Commanding: This process involves articulating a vision, energizing employees, inspiring and motivating people using vision, influence, persuasion, and effective communication skills.
- Organizing: This function of establishing worker relationships allows workers to work together to achieve their organizational goals.
- Planning: Planning in a management role is defined as the process of choosing appropriate objectives and actions to pursue. In a nutshell, it is the significant step where we determine what strategies to use, what actions to take, and decide what resources are needed to achieve the desired outcomes.
- Coordinating: This ensures that different departments and groups work in sync. Therefore, there is a unity of action among the employees, groups, and departments.
- Controlling: The significance of controlling lies in the process of evaluating how well you are achieving your goals, improving performance, taking actions. It also includes assigning processes in place to establish standards with which you can measure, compare, and make decisions.
Who Can Use this Five Functions of Management PPT Template?
- Business leaders
- Entrepreneurs
- Solopreneurs
- Business Executives
- Business Owners
- Managing Directors, CEOs, etc
- Team Leaders
- For Research Purposes
- For Educational Purposes
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