STUDENT’S REG. NO: MBA(DL) 212/0120
COURSE NAME: Master of Business Administration
UNIT CODE: MBA 603
UNIT TITLE: GENERAL MANAGEMENT
SUBMITTED TO: EVANS NYAMBOGA
Answer to Question 1
Management is as critical as the organization because it is management which helps and directs the various efforts towards the achievement of the goals of the organization. It entails the process of working with and through others to effectively attain the goals of the organization. Management stands to protect the interest of the organization. According to Harold Koontz, “Management is an art of getting things done through and with the people in formally organized groups. It is an art of creating an environment in which people can perform and individuals can co-operate towards attainment of group goals.” As per the definition of Harold Koontz, it is management which puts into use the various factors of production and creates a conducive environment for the goals of the organization to be achieved. Management takes responsibility to create such conducive environment and conditions to maximize efforts so that people are able to perform their task efficiently and effectively using limited resources in this fast space changing world. The organization cannot know what to do, when to do and see that it is done in the best and cheapest way without management. No organization can survive or even be in existence without management. The main objectives of management are:
Guaranteeing maximum results with minimum efforts and resources. Management is basically concerned with thinking and utilizing human, material and financial resources in such a manner that would result in the best combination in reducing various costs. Utilizing the various factors of production properly to increase their efficacy to a great extent. This is obtained by reducing spoilage, wastages and breakages of all kinds. This in turn leads to saving money, time and effort which is essential for the growth and prosperity of the organization. Ensuring smooth and coordinated functioning of the organization. This helps in providing maximum benefits to the employee in the shape of good working conditions, suitable wage systems, incentive plans on the one hand and higher profits on the employer on the other hand. Serving as a tool for the upliftment as well as betterment of the society. Through increased productivity and employment, management ensures better standards of living for the society. It provides justice through its uniform policies.
The importance of management.
Management establishes sound organization. It ensures smooth and coordinated functions (no overlapping of efforts) which is in tune with the objective of the organization and for the upliftment of this, management establishes effective authority and responsibility relationship i.e. who is accountable to whom, who can give instructions to whom, who are superiors and who are subordinates. Management fills up various positions with right persons, having the right skills, training and qualification. It makes all jobs clear to everyone.
It helps reduce cost. Management makes frantic efforts to get maximum results through minimum input by proper planning to get maximum output. Management uses physical, human and financial resources in such a manner which results in best combination to reduce cost.
Management helps in achieving group goals. It arranges the factors of production, assembles and organizes the resources, integrates the resources in an effective manner to achieve organizational goals. It directs the groups’ efforts towards the achievement of pre-determined goals. By defining the objective of the organization there will be no wastage of time, money and effort, management converts disorganized resources of men, machinery, money etc. into useful enterprise. These resources are coordinated ,...