Question

Why management is so important for modern business?

Answer 1

Management has many importance that s the reason it is more important in business


1// Helpful in business goals - - Management refers to process of work done for the achievements of goals in effective and efficient manner.

2// Increasing profits-- Management helps in reducing cost of production and increasing sales revenue. As a result of this, profits automatically increases..

3// Optimum utilization of resources - - Management aims is to use every resources properly So they can convert in production for earning profits. If management is not in business the resources become resource and never be produced.


4// Minimise risk - - Next importance of management for business is that it minimise risk. Management uses the all resources very optimisly As a result of this risk should be minimize in the business.

Answer 2

Answer:

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.