Course Title: Principles of Management(MGT503)
Lecture No. 4: MANAGERIAL FUNCTIONS I.E. POLCA
	POLCA as functions	Management process	Management Process	Efficiency refers to getting the most output from the least amount of inputs
	Mistakes Managers Make
POLCA as functions
Planning Management function that involves the process of defining goals, establishing strategies for achieving those goals. And developing plans to integrate and coordinate activities. Organizing Management function that involves the process of determining what tasks are to be done. Who is to do them, how the tasks are to be grouped, who reports to whom, and where decisions are to be made. Leading Management function that involves motivating subordinates, influencing individuals or teams as they work, selecting the most effective communication channels, or dealing in any way with employee behavior issues. Controlling Management function that involves monitoring actual performance, comparing actual to standard and taking corrective action, if necessary. Assurance Quality function which demands from every manager that he/she ensures that prior management support and management processes are in place before POLC management functions are executed.
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