Importance of management

Management forms an integral part of the organisation to manage each function efficiently. Management holds a crucial place in small, big, profit and non-profit organisations, which helps the individual make the best contributions for achieving individual group objectives. It is pervasive and extensively used in all sizes and types of organisations. In an organisation, the population works in different departments to achieve the organisation’s common goals; hence, management aims to guide efforts by outlining individual and group goals and allocating resources. Management, in simpler terms, is defined as getting a job done through planning and guiding the workforce. 

Management and its concept 

The importance of management cannot be undermined as no workforce can work independently without guidance. It includes three significant terms, which are processes, effectively and efficiently. Processes are defined as primary activities which are undertaken for achieving goals. Hence, the functions may range from the organisation, staffing, directing and others. In addition, efficiency is defined as completing the task on a routine basis.

On the contrary, effectiveness relates to completing tasks in the right way for achieving objectives. Efficiency helps reduce costs; hence, managers aim for efficient operations through training and formal education. The primary aim of management is reducing cost through minimum or maximum utilisation of resources that further reflect on the productivity and profits of the firm. 

Management and its characteristics 

It is pervasive 

Any organisation requires management for completing routine tasks while also meeting goals on a long–term basis. Any organisation’s function, sector, or size requires management of almost identical characteristics. For example, petrol pumps also require management while even households manage the process for convenient and healthy living. 

It is goal-oriented

It is essential for setting objectives to achieve success while also coping with the competition. The manager usually plans the operation and prioritises the tasks aligned with immediate and long-term goals. Since needs and requirements keep changing, the goals must also be aligned accordingly. Hence, management is very goal-oriented. 

Management is often considered multidimensional

It is complex with varied dimensions. Management occurs for completing work whether it is a factor, production house or even non-profit-making organisation. Also, human resources form an essential part of the organisation; hence getting work done from employees with varied perspectives and working habits has been challenging for all organisations for decades. Besides, irrespective of size and operations, organisations require a process for material flows, technology transfer, and output sold for consumption. 

It is continuous

Management is a continuous process that is composite but separate in functions. The managers perform activities like planning, organising, and others continuously. 

It cannot be performed individually 

Any organisation is composed of individuals with varied needs. Thus, every employee might have a different purpose for working and achieving the objectives. The achievement of individual or group goals will require collaboration and coordination. The management should aim to develop all individuals simultaneously in alignment with changing needs. 

Management is very dynamic

It has a dynamic function and adapts to changing environments. For thriving success, the management should be aligned with changing external factors. The operation and alignment are directly linked with a social, economic and political environment that keeps changing. 

It is not tangible

Management activities cannot be seen or felt, although it is reflected within the organisation by understanding the flow of work, working culture, productivity and outcomes like profits. For example, if the employees are productive, it indicates good management practices. 

Management objectives 

The objectives of management should derive from business foundations. 

Organisational – The management holds a crucial place to set and achieve goals. Any organisation only operates by fulfilling the requirements of several stakeholder sets. Thus, the objectives are aligned for meeting stakeholder expectations, including shareholders, customers, employees and government. The human and other resources are utilised to achieve survival, profits, and long-term growth. 

Social – Any business depends entirely on customers who buy and use the products and services. It is multidimensional and pervasive must create value by employing people, participating in welfare programs, reducing societal structures and others. It also has social responsibility; hence, the operation and actions must be obligated by social elements.

Personal – Each organisation uses human resources for fulfilling its objectives. The employees have varied sets of needs which might be monetary or non-monetary. This can be achieved through developing policies and practices to meet the personal objectives of the working population. 

Conclusion 

The term management is broad as it encompasses several components which hold a vital place in the success and sustainability of the organisation. It refers to planning, staffing, controlling, and directing resources efficiently for meeting objectives. The importance of management is high owing to its characteristics that include goal, oriented, pervasive, multidimensional, continuous and others. Management entails achieving three significant objectives that are personal, social and organisational.