Explain the importance of management in our lives. Please give at least seven reasons.
Answers
It helps in Achieving Group Goals - It arranges the factors of production, assembles and organizes the resources, integrates the resources in effective manner to achieve goals. It directs group efforts towards achievement of pre-determined goals.
Originally identified by Henri Fayol as five elements, there are now four commonly accepted functions of management that encompass these necessary skills: planning, organizing, leading, and controlling. 1 Consider what each of these functions entails, as well as how each may look in action.
Answer:
It is achieving group goals-It arranges the factors of production,assembles and organize the resources in effective manner to achieve goals.Opitmum Utilization of resources - management Utilizes all the physical & human resources productively