Describe any four reasons which clarify that management is gaining importance day by day.
Describe any four reasons which clarify that management is gaining importance day by day.
Management is gaining importance day by day because :
(i) Multidisciplinary: Management uses multidisciplinary or several disciplines/subjects like economics, psychology, mathematics, etc., simultaneously that benefits an organisation. These disciplines are accordingly utilised in relevant processes and functions like production, planning, and control.
(ii) Goal oriented: An effective management aims at attaining the goals of an organisation. Accordingly, all functions and efforts by the management are directed towards achieving these goals.
(iii) Pervasive in nature: Management is pervasive or involves human activity across the different course of action and levels of a business. Every human activity needs to be managed in a certain manner.
(iv) Dynamic functions: As a business keeps changing continuously under varying trends, tastes, preferences etc, management is also characterised by continuous changes, activities, and vigor that creates energy among individuals in an organisation. A business in thus subject to changing trends, tastes, and preferences, economic and political conditions, etc.
Management is gaining importance day by day because :
(i) Multidisciplinary: Management uses multidisciplinary or several disciplines/subjects like economics, psychology, mathematics, etc., simultaneously that benefits an organisation. These disciplines are accordingly utilised in relevant processes and functions like production, planning, and control.
(ii) Goal oriented: An effective management aims at attaining the goals of an organisation. Accordingly, all functions and efforts by the management are directed towards achieving these goals.
(iii) Pervasive in nature: Management is pervasive or involves human activity across the different course of action and levels of a business. Every human activity needs to be managed in a certain manner.
(iv) Dynamic functions: As a business keeps changing continuously under varying trends, tastes, preferences etc, management is also characterised by continuous changes, activities, and vigor that creates energy among individuals in an organisation. A business in thus subject to changing trends, tastes, and preferences, economic and political conditions, etc.
