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The Major Functions Of Business Management
The major functions of business management are planning, controlling, motivating, staffing, and leading. There is a subtle distinction between the term leading and the term managing. In simple language, managing is all the action involved in planning, controlling, staffing, leading, and motivating. On the other hand, leading is the act of providing direction to employees so that employees achieve set objectives.
Planning is core to the success of any organization. Planning is the act of identifying future courses of action an organization will take. When planning, it is necessary to keep in mind the present state of the organization and the past state of the organization. It is usually assumed that the future state of the organization would be better than the present state and the past state.
During the planning stage, future goals of the organization are normally developed. All goals of the organization should be specific and should be realistic. Unrealistic goals should not be set as they will have a negative impact on employees and managers. Unrealistic goals will drain away the energy of employees and will make employees to burn out.
The managers should consult with employees before developing goals. Consultation between employees and managers during the goal setting process will ensure that the goals set reflect management desires yet at the same time reflect employee expectations. The major desire of managers is to increase company's profit while the major desire of employees is to have better working conditions and salary hike. These are essentially the same goals, because in the big picture, the success of the company equates to the success of the employees.
Leading is the act of providing direction to employees. A business manager should be a person who is a good manager and who at the same time has good leadership skills. To be a good manager, one will have to further his or her education. Most universities and colleges offer management courses. One should always opt for highly reputable educational institutions.
Managerial training can also be obtained by attending seminars. This training is a lifelong process. Once one has completed a degree or post graduate studies in a commerce niche, this does not automatically make them a better manager. Being a better manager takes hands on experience on the job, attending seminars, and sometimes attending refresher courses. Being a good manager takes training and experience, but being a good leader takes natural talent in most cases and in some rare cases training. Most exceptional leaders are born leaders. The fact that leadership in most cases is an inborn talent does not rule out the fact that leadership skills can be nurtured. With today's advanced research in the leadership niche it is becoming possible to nurture individuals who are not born leaders to be exceptional leaders.
Motivating employees is another function of management. A good manager is a person who has the capability to motivate employees using different methods. Common well-established methods used to motivate employees include delegating, mentoring, and coaching. Employees will be motivated when an organization has a good reward mechanism. A good reward mechanism is one that rewards hardworking employees with salary hikes and promotions.
Business management has many functions in organizations. The major functions of managers are planning, leading, motivating, and controlling. Managing is the act of organizing the major managerial functions. The ideal manager is the person who has exemplary managerial skills and exceptional leadership skills.
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