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:-
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.
Latest posts by BMS Team (see all)
- Meterdown Annual Festival is back with its 7th edition – Starts today! - January 16, 2020
- Tybms sem 6 results 2019 declared on 19th June 2019 - June 19, 2019
- TYBMS Sem 6 Results 2019 Update from BMS khabri! - June 15, 2019