Question

Give the meaning of management and explain how it 'creates a dynamic organisation' and 'helps in the development of society.'

Answer 1

Management creates a dynamic organisation as it includes goal, objectives and other activities which keeps on changing according to the changes taking place in the business environment.

Management helps in development of the society as efficient management in an organisation helps in meeting the social obligation of the organisation towards different groups like employees, customers, suppliers etc. It even helps in contributing a sufficient percentage in the Gross Domestic Product(GDP) of an economy.