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Importance Of Management

Management, Increase efficiency. dynamic organization, personal objective

After understanding that management is a universal activity, we now examine some of the reasons that have made management so important:

1) Management helps in achieving group goals: Management helps in achieving the group goals by encourage initiative. The Manager should encourage group effort, coordinate, direct and control resources in such a manner that enterprise work towards achievement of pre-determined organizational goals.

2) Management Increase efficiency: The aim of Manager is to reduce cost and increase productivity through effectively utilization of all the physical & human resources. Management also encourages innovation in the organization. Innovation brings changes and makes the organization more efficient and competitive.

3) Management creates a dynamic organization: All Organization has to function in an environment which is constantly changing. With the change is external environment, the initial co-ordination of organization must be changed. Management helps people to adapt these changes so that organization is able to maintain its competitive edges.

4) Management helps in achieving personal objective: A manager motivates employees and leads his team in such a manner that individual members are able to achieve personal goal while contributing to the overall organization objective. Through leadership and motivation the management helps individuals to develop team spirit, cooperation to group success.

5) Management helps in the development of society: A business has multiple objectives. In the process of fulfilling all these objectives, management also helps in the development of society. Good management makes a difficult task easier by effectively utilization of scarce resource. It increases the profit which is beneficial to business and society will get maximum output at minimum cost by creating employment opportunities which generate income in hands. Organization comes with new and better product and services.
Credits:-
NCERT Delhi , Wikipedia.org,  Managementstudyguide.com


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