Question

What do you mean by management ,explain nature and importance of management?

Answer 1

Management is the process of reaching organizational goals by working with and through people and other organizational resources. 

Management has the following 3 characteristics:

It is a process or series of continuing and related activities.It involves and concentrates on reaching organizational goals.It reaches these goals by working with and through people and other organizational resources.

 

Answer 2

Management is the function of guiding, directing and unifying human efforts and activities for the accomplishments of given tasks.

Nature of management -

☆ Management is an purposeful activity.
☆ Management is concerned with the efforts of a group.
☆ Management applies economic principles.
☆ Management involves decision making.
☆ Management is getting things done effectively and efficiently through others.
☆ Management is an art, soft science as well as profession.

Importance of Management

☆ It helps in achieving group goals.
☆ Optimum utilization of resources.
☆ Establishes sound organisation.
☆ Reduces cost