Management is the process of planning, organizing, staffing, directing and controlling in such a manner that the goals of the organization are met with minimum cost and time.

All of the above functions have to be performed simultaneously and in synchronization. All the types of functions are explained below:

a. Planning- Planning is the first step in Management. It means deciding what to do, how to do, and who should do it. It also involves the establishment of the goals of the organisation to be achieved and also devising the method of achieving them both effectively and efficiently.

b. Organizing - The duties and the tasks are grouped together and allotted to different departments. Hierarchy established throughout the department. Proper organisation helps to increase the effectiveness and efficiency.

c. Staffing - Staffing involves hiring the correct people with the required qualification for the work. It also includes the training and development of the people.

d. Directing- directing refers to the guiding of the employees in the firm. It has four aspects- supervision, leadership, motivation, and communication.

e. Controlling- It important to control and check that the work is moving forward in the correct path. It involves comparing the actual work against the expected standards and policies. It also ensures that the work is done up to the mark and there is no error from the target set. In case of any error, adequate measures have to be taken to correct it.

In conclusion, the functions of the management are interdependent on each other and have to be formed simultaneously.