Importance of Management
Having understood that management is a universal activity that is integral to any organization we now examine some of the reasons that have made management so important:
(i) Management helps in achieving group goals: Management is required not for itself but for achieving the goals of the organization. The task of a manager is to give a common direction to the individual effort in achieving the overall goal of the organization.
(ii) Management increases efficiency: The aim of a manager is to reduce costs and increase productivity through better planning, organizing, directing, staffing and controlling the activities of the organization.
(iii) Management creates a dynamic organization: All organizations have to function in an environment which is constantly changing. It is generally seen that individuals in an organization resist change as it often means moving from a familiar, secure environment into a newer and more challenging one.
Management helps in achieving personal objectives: A manager motivates and leads his team in such a manner that individual members are able to achieve personal goals while contributing to the overall organizational objective.
Management helps in the development of society: An organization has multiple objectives to serve the purpose of the different groups that constitute it. In the process of fulfilling all these, management helps in the development of the organization and through that it helps in the development of society.