Importance of Management
According to Peter Drucker,
"Management is what the modern basis is all about."
This contestation agency that all the evolution that has taken house inwards the basis is due to efficient management.
The points below convey out the significance or importance of management.
1. Encourages Initiative
Management encourages initiative. Initiative agency to exercise the correct matter at the correct fourth dimension without existence told or influenced yesteryear the superior. The employees should live on encouraged to brand their ain plans too likewise to implement these plans. Initiative gives satisfaction to employees too success to organisation.
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2. Encourages Innovation
Management likewise encourages excogitation inwards the organisation. Innovation brings novel ideas, novel technology, novel methods, novel products, novel services, etc. This makes the organisation to a greater extent than competitive too efficient.
3. Facilitates growth too expansion
Management makes optimum utilisation of available resources. It reduces wastage too increment efficiency. It encourages squad piece of work too motivates employees. It likewise reduces absenteeism too labour turnover. All this results inwards growth, expansion too diversification of the organisation.
4. Improves life of workers
Management shares some of its profits amongst the workers. It provides the workers amongst skilful working surroundings too conditions. It likewise gives the workers many fiscal too non-financial incentives. All this improves the lineament of life of the workers.
5. Improves corporate image
If the management is good, too then the organisation volition attain skilful lineament goods too services. This volition improve the goodwill too corporate icon of the organisation. Influenza A virus subtype H5N1 skilful corporate icon brings many added benefits to the organisation.
6. Motivates employees
Management motivates employees yesteryear providing fiscal too non-financial incentives. These incentives increment the willingness too efficiency of the employees. This results inwards boosting productivity too profitability of the organisation.
7. Optimum work of resources
Management brings together the available resources. It makes optimum (best) work of these resources. This brings best results to the organisation.
8. Reduces wastage
Management reduces the wastage of human, cloth too fiscal resources. Wastage is reduced yesteryear proper production planning too control. If wastage is reduced too then productivity volition increase.
9. Increases efficiency
Efficiency is the human relationship betwixt returns too cost. Management uses many techniques to increment returns too to cut costs. Higher efficiency brings many benefits to the organisation.
10. Improves relations
Management improves relations betwixt individuals, groups, departments too betwixt levels of management. Better relations atomic number 82 to amend squad work. Better squad piece of work brings success to the organisation.
11. Reduces absenteeism too labour turnover
Absenteeism agency the employee is absent without permission.
Labour Turnover agency the employee leaves the organisation.
Labour absenteeism too turnover increases the toll too causes many problems inwards the polish performance of the organisation. Management uses dissimilar techniques to cut absenteeism too labour turnover inwards the organisation.
12. Encourages Team Work
Management encourages employees to piece of work every bit a team. It develops a squad spirit inwards the organisation. This unity convey success to the organisation.
