Management plays an important role in all around development of organization as well as nation. In fact, either organization may big or small, profitable and non-profitable. Every organization needs an effective management system with a view to achieve its predetermined goals in the most appropriate way. In the absence of an effective management system any organization cannot able to achieve its preset goals in the proper way. Even a nation cannot develop by leaps and bounds in the lack of effective management system. Hence, it is clear that management is a life-giving element for organization and nation as well.
Importance or Significance or Advantages of Management can be described as follows:
- To obtain Pre-determined goals: Management play a significant role in the attainment of Pre-determined goals of an enterprise. In fact, in the absence of an effective management system any enterprise or organization can never achieve its Pre-determined goals in the most economic and proper way, because any organization cannot able to integrate all the available resources by the proper utilization of man power in the lack of effective management system. Thus it is clear that management helps to obtain Pre-set goals of organization.
- To take maximum use of available resources: Management provides certain platform to organization to take maximum advantages from available resources for the achievement of its pre-determined goals. In fact, it integrates all the available resources in such way so that every employee can easily utilize the resources for the purpose of achieving the pre-determined goals of organization.
- To minimize cost of Productions: Management is one of the important means of reducing cost of productions of organization. In fact, in the absence of establishing efficient management system any organization cannot able to produce maximum levels of production with minimum costs because management creates such an environment in organization where every employee can take equal initiative and contributes their hundred percent efforts in the minimization of cost of productions. Hence, it is clear that management helps to minimize cost of productions.
- To face cut-throat Competition: In this modern age cut-throat competition is going on, in full of swing among organizations to take high status in the market on behalf of its products. But it cannot be possible for any organization to take high status in the market on behalf of its own products in the lack of proper and effective management system because any organization cannot able to produce maximum levels of product with minimum costs and good qualities without efficient management system then how can organization take high status in the market by its products. So it is clear that management helps to organization to face cut-throat competition.
- For development of people: Management provides a great platform for the development of people due to creative function in nature. In fact, it creates so many things for all around development of people. It contributes to new investments, incomes, employments and new business etc in nation. So that people can get more benefits from these things and can make their life more comfortable and blissful. Thus we can say that management is one of the most important means for development of people.
- Significant to business: Management also plays an important role in all around development of business. In the absence of efficient management system any business cannot run smoothly. In fact, management is the life-giving element for business organization because without the leadership of management any business organization can never attain its pre-determined goals in the most efficient and economic way. On the whole it is clear that management is one of the most essential ways for all around development of business organization. ..
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