Skip to main content

IMPORTANCE OF MANAGEMENT

Management is goal oriented:- Management is corn with achievement of
specific goals. It is always directed towards achievement of objectives. The success
of management is measured by the extent to which objectives are achieved.
Management is associated with group efforts:- The business comes into
existence with certain objectives which are to be achieved by a group and not by
one person alone. Management gets things done by, with and through the efforts of
group members. It co-ordinates the activities and actions of its members towards a
common goal.
Management is intangible:- It is an unseen force, its presence can be evidence by
the result of its efforts up to date order but they generally remain unnoticed, Where
as mismanagement is quickly noticed.
Management is an activity and not a person or group of person:- Management
is not people or not a certain class but it is the activity, it is the process of planning,
organizing, directing and controlling to achieve the objectives of the organization.
Management is situational:- Management does not advice best way of doing
things. Effective management is always situational. A manager has to apply
principles, approaches and techniques of management after taking into
consideration the existing situations.
Management is universal:- Most of the principles and techniques of management
are universal in nature. They can be applied to government organization, military,
educational institutes, religious institutes etc. They provide working guidelines
which can be adopted according to situations.
Management is concern with people:- Since management involves getting things
done through others only human being performed this activity with the help of
planning and control. The element man cannot be separated from the management.
Management is the combination of art, science and profession:- Management
makes use of science as well as art. It is science because it collects knowledge with
the methods and data, analyzes and measures it and decision is taken with the help
of experiment. It is a systematic body of knowledge. Art means application of
knowledge for solving various problems. In modern times there is separation of
ownership and management, so professional experts are appointed

Comments

Post a Comment

Popular posts from this blog

Scope of Financial Accounting

 Financial accounting is a branch of accounting that deals with the recording, summarizing, and reporting of financial transactions of an organization. Its scope includes: 1. Reporting performance and position: Reporting the performance of an organization  as well as the state of the organization are the primary purposes. This can be seen through alternate names for the incomes statement and balance that were mooted for them namely the statement of financial performance and the statement of financial position. 2. Reporting to shareholders: Public traded companies accounts are relied on by more than direct shareholders. As a result of being publicly sold the scope of financial accounting information provided by these companies must also include the needs of potential investors to enable them to determine if they desire to invest in these companies. his he why publicly traded companies are required to publish their financial statement and make them the publicly available. 3. Rep...
Post a Comment
Read more

DLD (Digital Logic Design) objective questions

  Which of the following is NOT a basic logic gate? a) AND gate b) OR gate c) XOR gate d) NAND gate e) None of the above Answer: e) None of the above Which of the following is a universal gate? a) OR gate b) AND gate c) NOT gate d) NAND gate e) None of the above Answer: d) NAND gate Which of the following is an example of combinational logic? a) Flip-flop b) Counter c) Decoder d) Multiplexer e) None of the above Answer: c) Decoder Which of the following is used to implement logical functions in digital circuits? a) Resistors b) Diodes c) Transistors d) Capacitors e) None of the above Answer: c) Transistors Which of the following is a binary number system? a) Octal b) Decimal c) Hexadecimal d) Binary e) None of the above Answer: d) Binary Which of the following is used to represent negative numbers in binary? a) Sign-magnitude representation b) Two's complement representation c) Ones' complement representation d) Excess-3 representation e) None of the above Answer: b) Two's ...
Post a Comment
Read more

Advantages and Disadvantages of algorithm

Here are some advantages and disadvantages of algorithm  Advantages:   1. Provides a concise summary of an algorithm or process 2. Helps to focus on key ideas and concepts 3. Easy to review and refresh one's memory 4. Aids in problem-solving 5. Saves time and effort in taking notes 6. Helps to break down complex information into simpler parts 7. Facilitates understanding of difficult concepts 8. Helps to organize information 9. Enhances retention of information 10. Can be shared and used as a study tool Disadvantages: 1. May not provide enough detail to fully understand the algorithm or process 2. May omit important information that is necessary to understand the topic 3. Requires prior knowledge of the algorithm or process to create useful notes 4. May not work for every learning style or individual preference 5. May not be suitable for more complex topics that require detailed explanation 6. May not be effective for long-term learning or retention 7.May be too simplistic for...
Post a Comment
Read more