No business runs on itself even on momentum. Every business development needs repeated stimulus which can only be provided by management. Thus, management is a dynamic life giving element without which the resources of production will remain as mere resources and not become production. The following points bring out the objectives and importance in sharp focus:
Management is concerned with conversion of diverse resource people, machines money time and space into a useful enterprise. Success of business enterprise depends on the three important factors namely
• How efficiently and effectively it has used its human and physical resources.
• How effectively t has adapted the enterprise to the prevailing business environment e.g. needs and desires of customer, social and political situation of the country.
• How far the existing business policies have succeeded in realizing the aims and objectives of the business.
Efficiency of an organization will depend on how far its management ahs been successful in providing leadership to the subordinate workers and in involving them mentally and emotionally in the accomplishment of organizational objectives. Leadership is a function quite different from other managerial skills. It means influencing other the stated objective enthusiastically. Management provides leadership by explaining the purpose behind organizational goals and their necessity like investing in tough economical times.
Management is concerned with conversion of diverse resource people, machines money time and space into a useful enterprise. Success of business enterprise depends on the three important factors namely
• How efficiently and effectively it has used its human and physical resources.
• How effectively t has adapted the enterprise to the prevailing business environment e.g. needs and desires of customer, social and political situation of the country.
• How far the existing business policies have succeeded in realizing the aims and objectives of the business.
Efficiency of an organization will depend on how far its management ahs been successful in providing leadership to the subordinate workers and in involving them mentally and emotionally in the accomplishment of organizational objectives. Leadership is a function quite different from other managerial skills. It means influencing other the stated objective enthusiastically. Management provides leadership by explaining the purpose behind organizational goals and their necessity like investing in tough economical times.
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