Question

Management is a critical ingredient of a nation's growth. Comment.

Answer 1

Management is a critical ingredient of a nation's growth because of the importance of management which plays a crucial role in shaping the economy.Importance of management :-a) It enables the organization to survive in changing environment

b) It improves standard of living and increases the profit which is beneficial to business and society.

c) Management fills up various positions with right persons, having right skill, training and qualification.Management can be defined as a process of getting things done with the aim of achieving goals effectively and efficiently. In absence of management no organization can run successfully.