Nature And Significance of Managment
Introduction
Organization is a structured process in which People interact for objectives.The managment is the dynamic life giving element in every organisation
Meaning and concept
Layman,management means an impressive person occupying an air-conditioned chamber with an overstaked table and cushioned chair.Concept ''Managment is the art of getting thing done through others".
Modern concept
1.Managment is a 'process'
Managment is a process as it involves a series of inter-related functions,such as planning,staffinf,organising and controlling.
3.Management needs 'Efficiency'
Efficiency means doing the task correctly and with minimum cost.it is not enough to just complete the task
2.Management requires 'Effective'performance
Effectiveness in management is concerned with achieving the goal on time.
Objectives of Management
1.Organisational objectives
1.Maximum Results with Minimum cost
Management aims at optimum utilisation of resources for attainning maximum benefits.
2.Minimise Risk and Uncerainty
Management involves the functions of forecasting.Through future is unpredictable
3.Decision Making
Management ensures the selection of best alternative out of the available ones.
2.Social Objectives
1.Research and Development
Research and development are the integral part of the functioning of the modern business
2.Social Justice
By adopting uniform policies,management ensures social justice in society.Management aims at fair dealing with customers,suppliers,dealers and competitors
3.Maximum Employer's and Employee's Prosperity
Management makes a sincere effort to maximise profit for the enterprise.
3.Personal or Individual Objectives;
1.Mobilising Best Talent
Management aims at employing professionals in various fields so that better results are possible
2.Human Development
Human resources are more important than the non human i.e. physical resources.
3.Discipline and Morale
Management maintains disclipine in the organisation and it boosts the morale of the workers by the implementation of principles of decentralisation,delegation and managment by objectives.
Importance of Management
1.Optimum Utilisation of Resources
Management increases the productivity of the enterprise by optimally the various factors of production like men,material,money,machines,methods.
2.Accomplishment of Group Goals.
It is the management which makes people realise the objectives of the group and directs the efforts to the achievement of those objectivs.
3.Minimisation of Cost
Management aims at minimising the cost of the products and services thus enbaling the firm to face the cut throat competition in the market
4.Growth and Development of Businss
Management impoves the efficency of the business thus contributing to the dvelopment of the business enterprise.e
5.Better Quality Goods
Everysound management aims at providing quailty goods to the customers at minimum costs,by eliminating wastages in the process and exercising quality control.