Importance Of Management


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According to Ducker, management is the dynamic life giving element in every organization. In its absence, an organization is merely a collection of men, machines, money and material. The importance of management is:-

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a)      Optimum Use of Resources:-  Management ensures optimum utilization of resources by attempting to avoid wastage of all kinds. It helps in putting the resources to the best advantage.

b)      Effective leadership and Motivation:-  In the absence of management, the working of an enterprise will become random and haphazard in nature. Management creates teamwork and motivates employees to work harder and better by providing guidance, counseling and effective leadership.

c)      Establish Sound Industrial Relations:-  management minimizes industrial disputes and contributes to sound industrial relations in an undertaking. Industrial peace is an essential requirement for increasing productivity.

d)     Achievement of Goals:- Objectives can be achieved only when the human and non human resources are combined in a proper way. Managers plan carefully, organize the resources properly, hire competent people, and provide necessary guidance. Thus management is goal oriented.

 

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