Raizcorp Functional Entrepreneurship | Page 45

Management Functions Planning ​is the foundation phase of management. It deals with chalking out a future course of action & deciding in advance the most appropriate course of actions for achievement of pre-determined goals. Organising​ as a process which collectively involves: ● The identification of activities. ● The classification of grouping of activities. ● Assigning duties. ● Delegating authority and creation of responsibility. ● Coordinating authority and responsibility relationships. Leading ​may be defined as a process by which manager guides and influences the work of subordinates in a desired direction​. Leading involves: ● Manpower Planning ● Recruitment, Selection & Placement. ● Training & Development​. ● Remuneration​. ● Performance Appraisal​. ● Promotions & Transfer.