Functions of Management

 Management is playing a vital role in the progress and prosperity of a business enterprise. The
main purpose of management is to run the enterprise smoothly. Basically management
functions are those groups of activities, which constitute the core of basic responsibilities of a
manager’s job. A brief explanation of the basic functions of management is given below:
1. Planning: Planning is the primary function of management and involves the process of
determining objectives, discovering alternative cources of action, and selecting an appropriate
course of action for achieving objectives. In other words, planning is the determination of a
future course of action to achieve a desired result. Under planning, it is ascertained that what
should be done, how it should be done and who should do it. Before starting of a job all above
mentioned activities must be considered otherwise, the objectives of a business cannot be
achieved. Planning is a long process and under this the following steps are taken:
Determination of Objectives: This is the first step in planning process. It is a starting point as
everybody in the organization must know what is to be achieved in future. So, first of all,
objectives are laid down after identifying the opportunities available to a business organization.
Objectives are the key point of the process of1planning. Objectives should be clear, definite and
simple so that it should be clear to every employee of organization.
Establishing Planning Premises: The second step in planning is to establish planning premises,
that is, certain assumptions about the future on the basis of which the plan will be ultimately
formulated. If these assumptions are accurate, the planning process will be more useful. So, in
this various factors which affect the activities of an organization are determined. These are the
external and internal factors. External factors have no control and may be the policy of the
government, competition, change in customer habit etc. On the other hand internal factors
include capital, labour, machine, raw material etc. Planning premises point out the business
environment in which the plans will operate.
 Collection, Analysis and Classification of Information: For effective planning, all relevant data
should be collected, analyzed and classified. Suggestions should also invite from employee for
the betterment. The data so collected should be presented in tabulated form, diagrams and
graphs to facilitate analysis.
 Finding Alternative Courses of Action: The fourth step in planning is to search for and examine
alternative courses of action. In other words, the next step in planning will be choosing the best
course of action. There are a number of ways of doing a thing. All the available alternatives
should study and then a final selection will be made. Best results will be achieved only when
best way of doing a work is selected.
 Examination of alternative courses of Action: After looking into the entirealternative course,
the next step is to evaluate these alternatives courses technically in the light of the premises
and objectives. Each alternative is evaluated on the basis of its outcome and advantages. The
strong and weak point of each alternative should be carefully noted and this is done with the
help of quantitative techniques and operation research.
 Selecting the best alternative: The next step is to select the best alternative. The selection
should be made carefully and no partiality is shown while selecting the alternative.
 Developing Derivative Plans: When the plan for the organization has been formulated, middle
and lower level managers must draw up the appropriate plans for their sub-units. To support
the master plan, each department head prepares a plan for his department. So, these are the
plans required to support the basic plan.
 Communication and Implementation of plans: The next step in planning is to communicate the
plan to every manager in the organization so that they cooperate whole heartedly in the
implementation of plans. These tools will enable a better implementation of plans.
 Follow-up action or controlling the progress: The process of planning does not end with the
implementation of plans. The plans are formulated for future which is uncertain. There must be
a constant review of the planning to ensure the success.Managers need to check progress of
their plans so that they can make changes in the plan or take some remedial measure to bridge
the gap, if it is unrealistic or 2impractical.
2. Directing: Directing function of management involves guiding, leading and motivating
subordinates so that they contribute towards achieving organizational objectives. It is done by
giving necessary instruction to them regarding the assigned work, and motivating them to
perform in a satisfactory manner. Communication, motivation and leadership are the essential
elements of 2directing functions.
3. Controlling: The process of management begins with the planning function and concludes
with the controlling function. It involves comparison between the actual work performance and
the planned standards, and taking corrective steps when there is a difference between the
two.So, it is an important function of management and has following steps:
 Establishing performance standards: Every enterprise plans its activities in advance. On the
basis of plans, the objectives and goals of every department, branch, etc. are fixed.Standards
may be quantitative or qualitative. Most of the standards are expressed in terms of quantity.
Number of units produced, number of men, hours employed, total cost incurred, revenue
earned, the amount of investment etc.
 Measurement of actual performance: The performance should be compared with the
established standards. So, necessary information should be collected about the
performance. The effective management information system provides the necessary
information. There are several techniques which are used by the management to measure the
performance.
 Comparison of actual performance with standards: The next step in control process is the
comparison of actual performance with the standards set. When the actual performance is not
up to the level then causes for it should be pin-pointed. Necessary steps are taken so that
performance is not adversely affected.
 Taking corrective action: Management has to find out the causes of deviation before taking
corrective measure. The causes of deviation may be due to ineffective and inadequate
communication, defective system of wage payment, defective system of selection of personnel,
lack of proper training, lack of motivation, ineffective supervision, etc. the management has to
take necessary corrective action on the basis of 2nature of causes of deviation.
4. Coordinating
This is the process of linking several activities to achieve a functional whole inthe organisation.
In other words, it is the process of ensuring that persons whoperform interdependent activities
work together in a way that contributes to overallgoal attainment. Coordinating is the
management of interdependence in a worksituation. It is much more than just cooperation and
it involves an informationgiving function. We have learnt in the organising function that the
work of anorganisation is divided into various functional units and it is the coordinatingfunction
that ensures that all these units efficiently contribute to the objective. Itis in the coordinating
process that a manager has to act like a leader and her/hisleadership skills are put to test. The
best coordination occurs when individuals see how their jobs contribute to the goals of the
organisation. To avoid splintering efforts, the dominant goal of the organisation should be
clearly defined and communicated to everyone concerned. Goals of subordinate departments
should be designed to contribute to the goals of the organisation. Coordination calls for skill of
leadership, communication and delegation.
5. Motivating:
Motivating employees means implementing an inspirational process to encourage team
members in pursuit of mutual targets. Having motivated employees is beneficial to any
organization because it improves the chances of achieving operational, financial, and strategic
goals.
References
Bryson, Jo. Effective Library and Information Centre Management. England: Grower, 1990. Print.
Evan, G. Edward. Management Techniques for Libraries. New York: Academic Press, 1976. Print.
Hitt, Michael. A. ,et al. Effective Management. New York: West Publishing. Co,
1979. Print.
Hitt, William D. Management in Action: Guidelines for New Managers.Columbus: Battelle Press,
1985. Print.
Indira Gandhi National Open University. School of Management Studies. S-1:
Management Functions and Behaviour. New Delhi: IGNOU, 1992. Print.
Koontz, Harold, and Cyril O’Donnell. Essentials of Management. New Delhi:
Tata McGraw Hill, 1974. Print.
Koontz, Harold, et al. Management. 8th ed. New York: McGraw Hill, 1984. Print.3

Objectives of a farmer
Profit making: Every farmer's primary objective is to make a profit from their farming activities.
This can be achieved by selling their products at a price that covers their costs and leaves them
with a margin of profit. Profit is essential for the sustainability of a farm and for reinvestment in
the business.
2.capital growth: A farmer's objective is often to increase the value of their farm over time,
which can be achieved by improving their land, purchasing new equipment, or expanding their
operations. Capital growth can help a farmer secure their financial future.
3. Social responsibility:. A farmer's objectives often include a responsibility to the local
community and the environment. This might mean providing employment opportunities,
contributing to local economic development, and using sustainable agricultural practices. For
example, a farmer might plant native trees or grasses to protect local wildlife, or they might use
organic methods to reduce their impact on the environment
4. Business survival: A farmer's primary objective is often to ensure the survival and long-term
success of their business. This can be done through careful planning, taking calculated risks, and
diversifying their operations. For example, a farmer might choose to grow a variety of crops or
raise different types of livestock to reduce their risk of financial loss. Additionally, a farmer might
seek to diversify their income sources by selling their products at local markets or online.
5. Social status: . A farmer's goals may include gaining social status within the local community
or the agricultural industry. This might involve becoming a leader in a local farming cooperative
or an influential member of a farming association. Additionally, a farmer might seek to gain
recognition for their achievements by winning awards or receiving media coverage.
6. Capital accumulation: A farmer's goal is often to accumulate capital, or wealth, from their
farming activities. This can be done by reinvesting profits back into the farm, or by selling the
farm or its assets. A farmer's financial security and long-term success often depends on their
ability to accumulate capital.
7. Business growth: For many farmers, a key goal is to grow their business over time. This might
involve expanding their operations by adding new land, new crops, or new livestock.
Additionally, a farmer might seek to expand their business by building relationships with local
vendors, distributors, or wholesalers. Growth can help a farmer expand their reach, increase
their income, and contribute to the local economy.

References

- "Fundamentals of Farm Financial Management" by James C. Baker

- "Principles of Farm Business Management" by Robert F. Hottel
- "Agricultural Finance and Management" by Don Hofstrand