Lack of proper management results in wastage of time, money and efforts. In the light of the above statement, explain any four points of importance of management.
Lack of proper management results in wastage of time, money and efforts. In the light of the above statement, explain any four points of importance of management.
Importance of management can be seen in the following points :
(i) Achievement of objectives: The organisation sets objectives or specific results and targets to be achieved at a particular time frame. Accordingly, management allocates required resources subject to policies, procedures, rules, performance standards etc., set in these objectives that aim at reducing wastage of time, money and efforts.
(ii) Coordination of different factors: Coordination among people working across different functions in an organisation can unify, integrate and synchronize their efforts that avoid wastage, job repetitions, delays or errors.
(iii) Positive influence: Management can get the work done by influencing positive communication between people in an organisation in the form of motivation, leadership, job assurance and so on.
(iv) Increasing productivity: Management ensures that resources like raw material/ capital, labour, etc. are utilized optimally as planned according to the set targets. The management also ensures that the increase in productivity can be realistically obtained by motivating labour and equitable alignment of supporting resources.
Importance of management can be seen in the following points :
(i) Achievement of objectives: The organisation sets objectives or specific results and targets to be achieved at a particular time frame. Accordingly, management allocates required resources subject to policies, procedures, rules, performance standards etc., set in these objectives that aim at reducing wastage of time, money and efforts.
(ii) Coordination of different factors: Coordination among people working across different functions in an organisation can unify, integrate and synchronize their efforts that avoid wastage, job repetitions, delays or errors.
(iii) Positive influence: Management can get the work done by influencing positive communication between people in an organisation in the form of motivation, leadership, job assurance and so on.
(iv) Increasing productivity: Management ensures that resources like raw material/ capital, labour, etc. are utilized optimally as planned according to the set targets. The management also ensures that the increase in productivity can be realistically obtained by motivating labour and equitable alignment of supporting resources.
