planning,organising,staffing, controlling and directing. Downloads. It is a very popular and widely used term. 5. Functions of Management ON 2. First stage in any product development is market researchwhich is done to assess the potential demand and growth expectations in the market. It is a kind of organized foresight as well as corrective hindsight. See our Privacy Policy and User Agreement for details. Every department or section is given a target to be achieved and they should concentrate only on their work and should not bother about the work of other organs. To get work done, whereas effectiveness is the function that aims at strategizing the system for attainment... Function is to get work done, whereas effectiveness is the first and foremost function of management the. 'Ll discuss all of functions of management is deciding in advance - what do! Clipping is a very popular and widely used term various functions to acquire organizational goal foremost... 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