BASIC IMPORTANCE OF MANAGEMENT FOR STUDENTS AND FURTHER CLASSES

IMPORTANCE OF MANAGEMENT

Having understood that management is a universal activity that is integral to any organization we now examine some of these reasons that have made management so important:

Management helps in achieving group goals:

Management is required not for itself but for achieving the goals of the organization. The task of a manager is to give a common direction to the individual efforts in achieving the overall goals of the organization.

Management increases efficiency:

The aim of a manager is to reduce costs and increase planning, organizing, directing, staffing and controlling the activities of the organization.

Management creates a dynamic organization:

All organizations have to function in an environment that is constantly changing. It is generally seen that individuals in an organization resist change as if often means moving from a familiar, secure environment into a newer and more challenging one. Management helps people adapt to these changes so that the organization is able to maintain its competitive edge.

Management helps in achieving personal objectives:

A manager motivates and leads his team in such a manner that individual members are able to achieve personal goals while contributing to the overall organizational objective. Through motivation and leadership, the management helps individuals to develop unity, cooperation, and commitment to group success.

Management helps in the developing of society:

An organization has multiple objectives to serve the aim of the various groups that constitute it. In the process of fulfilling all these, management helps in the development of the organization and through that, it helps in the development of the organization, and through that, it helps in the development of the society. It helps to supply good quality products and services, create employment opportunities, adopt new technology and methods for the greater good of the people, and leads the trail towards growth and development.

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