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Not only in the field of business but in other field also, has management come to occupy an important place. In this reference, it is said that anything minus management is nothing. The following facts clearly highlight the importance of management.
Management helps in achieving Group goals: it is the most important characteristics of management that it is goal oriented activity. A manager achieves these goals by giving proper direction to the efforts of all individuals.Management increases efficiency: a manager increases efficiency through optimum utilization of all the resources, such as Man, Machine, Material and money.Management creates a Dynamic Organization: to face the changing environment many changes need to be made in the organization as well. But people resist changes,. Manager creates a favorable environment through introducing employees to the benefits arising by adapting changes.Management helps in achieving Personal Objectives: every employee wants to get suitable remuneration a share in profit, participation in management etc, in the form of personal objectives. A manager motivates and leads his team in such a manner that individual members are able to achieve personal goals while contributing to the overall organization objectives.Management helps in the Development of Society : Management has some responsibility towards society. Managers by fulfilling their social responsibilities help in the development of society. These responsibilities are to provide employment opportunities to prevent environment from getting pollution, to make available good quality products at a reasonable price, etc
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