Question
Explain the functions of management. Discuss planning, organising, leading and controlling as essential managerial functions in industrial organisations.
Answer :
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Management is the process of coordinating human, financial, material and technological resources to achieve organisational objectives efficiently and effectively. In industrial organisations, management plays a vital role because production activities involve complex operations, large investments, specialised employees, machinery, technology and strict time schedules. The major functions of management are planning, organising, leading and controlling. These functions are interrelated and together provide a systematic framework for managing industrial projects and operations. Planning is the primary function of management. It involves deciding in advance what needs to be done, how it will be done, when it will be done and who will perform the activities. In industrial project management, planning begins with identifying project objectives, determining the scope of work and estimating the resources required. Managers prepare production schedules, budgets, manpower plans, procurement plans and risk-management strategies. For example, before establishing a manufacturing plant, management must plan the plant location, production capacity, machinery requirements, investment, labour requirements and expected completion time. Effective planning reduces uncertainty, prevents wastage and helps an organisation achieve its objectives within the specified time and cost. Organising involves arranging resources and activities in a systematic manner to implement the
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