It helps in Achieving Group Goals – It regulates factors of production, collects and organizes resources, integrates resources effectively to achieve goals. It directs the group's efforts towards the achievement of pre-determined goals. By clearly defining organizational goals there will be no wastage of time, money and energy. Management changes human resources, machines, money, etc. The disorganized become useful enterprise. These resources are coordinated, directed and controlled in such a way that the company is working towards achieving the goals.
Optimal Utilization of Resources – Management makes productive use of all physical & human resources. This leads to efficacy in management. Management provides maximum utilization of scarce resources by selecting the best alternative use in the industry from a variety of uses. It makes use of these experts, professionals and services leading to proper use of skills, knowledge and utilization and avoiding waste. If employees and machines produce maximum, no resources are used.
Reduce Costs – Get maximum output through minimum input with proper planning and by using minimum input & get maximum output. Management uses physical, human and financial resources in such a way as to produce the best combination. This helps in cost reduction.
Establishing a Healthy Organization – No overlapping efforts (fluent and coordinated functions). Establishing a healthy organizational structure is one of the management goals that is in line with organizational goals and for its fulfillment, an effective authority & responsibility relationship is formed, namely who is responsible to whom, who can give instructions to whom, who is his superior. & which is subordinate. Management fills various positions with the right people, with the right skills, training and qualifications. All work should be given to everyone.
Establishing Equilibrium – Enables the organization to survive in a constantly changing environment. It stays in touch with the changing environment. With changes in the external environment, the initial coordination of the organization must be changed. So it adapts the organization to market demands / changing needs of society. Responsible for the growth and survival of the organization.
Important for the Prosperity of Society – Efficient management leads to better economic production which in turn helps to improve the welfare of the people. Good management makes difficult tasks easier by avoiding wasting scarce resources. This raises the standard of living. It increases profits which benefit the business and society will get maximum output at minimum cost by creating income generating job opportunities at hand. Organizations come up with new products and research that benefit society.
Optimal Utilization of Resources – Management makes productive use of all physical & human resources. This leads to efficacy in management. Management provides maximum utilization of scarce resources by selecting the best alternative use in the industry from a variety of uses. It makes use of these experts, professionals and services leading to proper use of skills, knowledge and utilization and avoiding waste. If employees and machines produce maximum, no resources are used.
Reduce Costs – Get maximum output through minimum input with proper planning and by using minimum input & get maximum output. Management uses physical, human and financial resources in such a way as to produce the best combination. This helps in cost reduction.
Establishing a Healthy Organization – No overlapping efforts (fluent and coordinated functions). Establishing a healthy organizational structure is one of the management goals that is in line with organizational goals and for its fulfillment, an effective authority & responsibility relationship is formed, namely who is responsible to whom, who can give instructions to whom, who is his superior. & which is subordinate. Management fills various positions with the right people, with the right skills, training and qualifications. All work should be given to everyone.
Establishing Equilibrium – Enables the organization to survive in a constantly changing environment. It stays in touch with the changing environment. With changes in the external environment, the initial coordination of the organization must be changed. So it adapts the organization to market demands / changing needs of society. Responsible for the growth and survival of the organization.
Important for the Prosperity of Society – Efficient management leads to better economic production which in turn helps to improve the welfare of the people. Good management makes difficult tasks easier by avoiding wasting scarce resources. This raises the standard of living. It increases profits which benefit the business and society will get maximum output at minimum cost by creating income generating job opportunities at hand. Organizations come up with new products and research that benefit society.