Why management is necessary for modern business?
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Management is most important in modern business.. It is because of its important , ⬇⬇⬇
1// Helpful in achieving goals - - Management is helpful in achieving goals of the business and minimizes the risks..
2// Optimum utilization of resources - - Management uses all the resources properly. If there is no management in business it means the resources become resources and never be productive..
3// MAXIMISE profits - - Management aims is to generate the sales revenue of the business. If sales revenue increases and cost of production decreases that means it increases the profits in the business..
4// Production of goods - - Management helps the management in production of goods and services. So that it will be available at every time and helps the business to earn better profits
1// Helpful in achieving goals - - Management is helpful in achieving goals of the business and minimizes the risks..
2// Optimum utilization of resources - - Management uses all the resources properly. If there is no management in business it means the resources become resources and never be productive..
3// MAXIMISE profits - - Management aims is to generate the sales revenue of the business. If sales revenue increases and cost of production decreases that means it increases the profits in the business..
4// Production of goods - - Management helps the management in production of goods and services. So that it will be available at every time and helps the business to earn better profits
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Explanation:
Management ensures optimum utilisation of resources.
- Through planning and organisation, management eliminates all types of wastages and achieves efficiency in all business operations.
- Management motivates workers to put in their best performance.
- This would lead to the effective working of the business.
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