What Is The Importance of Management?

What Is The Importance of Management?

Managing is necessary whenever one needs to get things done. it may be called the practice of consciously and continually shaping organisations. Each and every organisation has people who are entrusted with the responsibility of helping the organisation achiee its goals. Those people are called managers.

management importance

 

No organization can carry on its business without management, which is in turn supervised by managers.

Management is essential to ensure the co-ordination of individual efforts within an organisation. it is exciting because it deals with setting, seeking and reaching objectives of an organisation. Each and every one of us is a manager and the practice of management is found in every face of human endeavor – education institutions, business, government or non-government organizations, associations, mosques and families.

Whatever may be the type of organisation, the managerial hurdles to overcome for setting and achieving objectives are surprisingly similar for all organisations.

Managing is universal. Every group effort requires setting objectives, making plans, handling people, co-ordinating and controlling activities, achieving goals and evaluating performance directed towards organizational goals. These activities related to the utilization of four types of inputs or resources from the environment –

  1. Human
  2. Financial
  3. Physical
  4. Informational.

Human resources include managerial talent, skill, motivation etc.

Monetary resources are the financial capital of the organization uses to finance both ongoing and long term operations.

Physical resources include building, raw materials, office and production facilities and equipments.

Information resources are data and other kinds of information utilized by the organization. The job of the manger is to combine and co-ordinate these resources to achieve the organization’s goals.

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