Discuss the reason for the increasing importance of management in india
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Answer:
Explanation: In the modern world All organisation depends upon group efforts.Group action and joint effort have become necessary in every walk of life.
The success in group effort depends upon mutual cooperation among the members of the group.
Management helps in maximizing output and minimizing cost.
Management is equally important at the national level.It is agent of change and economic growth.
Competence and dedication of its manager responsible towards prosperity,power and prestige of a nation.
India is a developing country in which instead of giving priority on growth, I will focus on economic
development. Economic development is multidimensional as it cover production, social and political well
being. Unlike other countries which is developed, economic growth is major concern while India needs
qualitative approach for progress. I will focus on improving living standard of the people, educational
sector and infrastructural etc. in the country. Recently, on the basis of Human Development Index (HDI),
India comes under the medium development category. Economic development not only covers the
national income, per capita income or per capita production but it overall see how much increase in
employment, quality of education and improvement in health facilities has occurred for people. It also
cover whether economic and social injustice is reducing or not. It also see responsibility of institutional
reform like public school, hospital, police station and court towards public. Geometrically HDI can be
calculated using three basic dimensions which are life expectancy, mean year of schooling and gross
national income per capita. The HDI measures life expectancy from 20 to 85 years.The life expectancy
factor helps to determine how long the average citizen lives. Countries with longer life expectancies
receive higher HDI scores than those in which people die at a younger age. Let us assume that a country
life expectancy at birth is 75 years then life expectancy index would be (75-20)/(85-20)=0.85. The
education index can be given as number of years of schooling for adult age 25, optimum age of schooling
which is 15 yrs divided by adult citizen of country going to school.The gross national income GNI
measures the annual income of the average citizen based on purchasing power parity. The GNI Index
uses a minimum income of 100$ and a maximum of 75000$.To measure human development more
comprehensively besides the HDI index, there are four other composites which includes inequality
adjusted HDI which measure inequality using the same elements measured in HDI. We can use same
approach in gender development index for measuring inequality. The global multidimensional poverty
index access poverty at individual level.
The increasing importance of management in india is due to rise in demand of skilled taskforce.
Explanation:
- The reason for the importance of management in India is due to the turbulent and dynamic environment, need to harness the resources at optimal levels, increasing specialization of business.
- The role of management in India is to improve the economic performance of the country by generating skilled workers.
- Management is needed in the public sector and the private sector in order to produce a higher output.
- Management is needed as a change agent that is responsible for driving economic growth. They are important for formulating policies and critical thinking in business operations.
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