The Importance of Management
What is management? What is importance of management?
Management in all business and organizational activities is the act of coordinating the efforts of people to accomplish desired goals and objectives using available resources efficiently and effectively. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources. Since organizations can be viewed as systems, management can also be defined as human action, including design, to facilitate the production of useful outcomes from a system.
IMPORTANCE:-
The success of any business depends heavily on the effectiveness of its managers. Good managers need to make the right decisions and ensure the business is able to exploit any opportunities open to it. At the same time, good managers protect the business by anticipating and acting against any threats to its welfare.
According to Frenchman Henri Fayol (1841-1925), managers have to: forecast and plan to determine where the business is going organise the resources necessary to achieve these objectives command people to do things coordinate the different activities
Control the activities to make sure they are completed as planned.
Managers in an organization have to decide on its priorities and allocate resources within it. They must decide what needs doing and how best to do it. A good manager should push the business forward, as new challenges arise, and take responsibility for their decisions. Management is often included as a factor of production along with machines, materials, and money. According to the management guru Peter Drucker (1909-2005), the basic task of management includes both marketing and innovation. Practice of modern management originates
Management in all business and organizational activities is the act of coordinating the efforts of people to accomplish desired goals and objectives using available resources efficiently and effectively. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources. Since organizations can be viewed as systems, management can also be defined as human action, including design, to facilitate the production of useful outcomes from a system.
IMPORTANCE:-
The success of any business depends heavily on the effectiveness of its managers. Good managers need to make the right decisions and ensure the business is able to exploit any opportunities open to it. At the same time, good managers protect the business by anticipating and acting against any threats to its welfare.
According to Frenchman Henri Fayol (1841-1925), managers have to: forecast and plan to determine where the business is going organise the resources necessary to achieve these objectives command people to do things coordinate the different activities
Control the activities to make sure they are completed as planned.
Managers in an organization have to decide on its priorities and allocate resources within it. They must decide what needs doing and how best to do it. A good manager should push the business forward, as new challenges arise, and take responsibility for their decisions. Management is often included as a factor of production along with machines, materials, and money. According to the management guru Peter Drucker (1909-2005), the basic task of management includes both marketing and innovation. Practice of modern management originates