Importance of Management
What is Management?
Management is the organization and coordination of the activities of a business in order to achieve definite objectives.
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 from the 16th century study of low-efficiency and failures of certain enterprises, conducted by the English statesman Sir Thomas More (1478-1535). Management consists of the interlocking functions of creating corporate policy and organizing, planning, controlling, and directing an organization 's resources in order to achieve the objectives of that policy.
Management is also seen as the directors and managers who have the power and responsibility to make decisions and oversee an enterprise.
The size of management can range from one person in a small organization to hundreds or thousands of managers in multinational companies. In large organizations, the board of directors defines the policy which is then carried out by the chief executive officer, or CEO. Some people agree that in order to evaluate a company 's current and future worth, the most important factors are the quality and experience of the managers.
Management is therefore seen in two different perspective. 1. As the process of dealing with or controlling things or people. 2. It is also defined as the responsibility for and control of a company or similar organization.
THE IMPORTANCE OF MANAGEMENT.
All organizations depend upon group efforts. Group action and joint efforts have become necessary in every walk of life. Management is required wherever two or more people work together to achieve common objectives.
The success in group efforts depends upon mutual cooperation among the members of the group. Management creates teamwork and coordination among specialized efforts.
Management is
Management is the organization and coordination of the activities of a business in order to achieve definite objectives.
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 from the 16th century study of low-efficiency and failures of certain enterprises, conducted by the English statesman Sir Thomas More (1478-1535). Management consists of the interlocking functions of creating corporate policy and organizing, planning, controlling, and directing an organization 's resources in order to achieve the objectives of that policy.
Management is also seen as the directors and managers who have the power and responsibility to make decisions and oversee an enterprise.
The size of management can range from one person in a small organization to hundreds or thousands of managers in multinational companies. In large organizations, the board of directors defines the policy which is then carried out by the chief executive officer, or CEO. Some people agree that in order to evaluate a company 's current and future worth, the most important factors are the quality and experience of the managers.
Management is therefore seen in two different perspective. 1. As the process of dealing with or controlling things or people. 2. It is also defined as the responsibility for and control of a company or similar organization.
THE IMPORTANCE OF MANAGEMENT.
All organizations depend upon group efforts. Group action and joint efforts have become necessary in every walk of life. Management is required wherever two or more people work together to achieve common objectives.
The success in group efforts depends upon mutual cooperation among the members of the group. Management creates teamwork and coordination among specialized efforts.
Management is
References: Gordon Pearson, (2012); The rise and fall of Management, eBook Abel Adelola , (2008); Global Business Management, Ashgate Publishing Ltd Dennis Lock, (2007); The Essentials of Project Management, Gower Publishing Ltd Tony Morden, (2013); Principles Of Strategic Management, Ashgate Publishing Ltd