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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

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