What are the importance of management?

As remarked by Peter F. Drucker,  "Management is the dynamic, life-giving in every business. Without it, the resources of production remain resources and never become production." Raw materials, machines, human resources and other factors in the organisation are efficiently managed by the management.

The importance of management are followed:-

(1) Determination of organisational objectives

The objectives are made by the management. And they are put into writing and communicated to all others in the organisation. Without objectives, organisations are aimless.

(2) The accomplishment of objectives 

Firstly, management made the objectives and now it's work to complete the objectives. For accomplished, the objectives management use the material resources by the group of people.


(3) Management helps in achieving personal objectives 

Management focuses not only organisational objectives rather individual objectives also.
Employees want to earn more and organisational wants more production. Employees can earn more by producing more.

(4) Encourages teamwork

Managers encourage the employees for achieving their individual and organisational goals. Encourage group people so that they can fulfil their goals.
Managers put them into unity it will increase the organisational success.

(5) Human development

Management is not simply the direction of things but the development of men. It improves the personality of people to raise their efficiency and productivity. A good manager serves as a friend and guide to his subordinates.

(6) The smooth running of the business

Management helps for the smooth running of the business, through better planning, sound organisation and effective control of the various factors of production.

(7) Motivate employees

Managers motivate the employees for doing better work in an efficient manner. Management provides financial or non-financial incentives. It helps in improving the efficiency and profitability of the organisation.

(8)  Improves organisational relations

Management improves the relations between employees, departments and between levels of management.
Betters relation leads to good teamwork and good teamwork lead to the success of the organisation.

(9)  Efficient use of resources

Managers can help in efficient use of various resources and increase the productivity of the enterprise. Thus, expert managers can lead the business towards growth and prosperity.

(10) Higher profits 

Management can help to a higher profit of the organisation. Managers motivate the employees so they can better work in an efficient way and increase the productivity and profitability of the organisation.

(11)  Stability 

Management coordinates the activities of different departments in an organisation and maintains team amongst the personnel. Management directs and controls the organisation to keep it on right track.

(12)  Improves corporate image 

Good management helps to produce good products and better services in the organisation. This will improve the goodwill and corporate image of the organisation.


So, these are the importance of management.



Happy reading :)