Planning: It means development of goals, strategies, task lists and schedules., It helps to balance the needs with the available resources., Organizing: It arranges the elements into a purposeful structure.., It helps in effective administration by avoiding confusion and duplication of work., Leading: It involves direction, motivation, instruction and supervision of employees in the assigned activities., It contributes to inspiring employees to meet the organizational goals., Controlling: It includes setting standards, measuring actual performance, and taking a corrective actions to make the plans happen., It is aimed at achieving the defined goals within the established timetable., Staffing: It involves selection and training individuals for specific job functions and assigning certain responsibilities to them., It ensures better utilization of human resources, continuity and growth of the organization.,

Unit 3 The Five Management Functions of Business

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