Importance of Management - 2147 Words

What is Management? Management is the organization and coordination of the activities of a business in order to achieve definite objectives. Management is often included as a factor of production along with machines, materials, and money. According to the management guru Peter Drucker (1909-2005), the basic task of management includes both marketing and innovation. Practice of modern management originates from the 16th century study of low-efficiency and failures of certain enterprises, conducted by the English statesman Sir Thomas More (1478-1535). Management consists of the interlocking functions of creating corporate policy and organizing, planning, controlling, and directing an organization s resources in order to achieve the†¦show more content†¦Management is equally important at the national level. It is an agent of change and economic growth. The prosperity, power and prestige of a nation depend upon the competence and dedication of its managers and administrators. President Roosevelt of U.S.A. once said: a government without good management is a house built on sand. Management makes a significant social contribution by supplying goods and services, employment, tax revenue, etc. According to Ureic and Breach, no ideology, no ism , no political theory can win a greater output with less effort from a given complex of human and material resources except sound management. And it is on such greater output that a higher standard of life, more leisure, more amenities for all must necessarily be founded. Management is an important organ of an industrial society. In a developing country like Nigeria , the significance of management can hardly be over emphasized. Higher efficiency and higher productivity is the only hope of the people, more than 60 per cent of whom are living below the poverty line. A welfare state cannot realize its twin objectives of economic growth and social justice without a well-organized management system. The root cause of Nigeria s backwardness lies in the underutilization and mystification of the country s resources. The most important reason for the poor performance of ourShow MoreRelatedThe Importance Of Management And Management1575 Words   |  7 Pagestwo minor conferences in March and a full year before two large national conferences. While we will be marketing our site on search engines and through support groups, we will be generating paying memberships by contacting marketing directors, management, and providers directly. We believe our strong personal network will also generate interest through social proof for other providers we do not know or who may be skeptical. Our membership and advertising pricing will be much in line with the currentRead MoreThe Importance Of Management And Time Management1170 Words   |  5 Pageshave helped me better understand management. When I worked in an assistive living facility I learned the importance of management and time management. I have worked with several co-workers who aided in better understanding the importance of communication, and implementing change. Nursing school has also taught me my role a nurse and how to incorporate all the theories management involves. Listening and recognizing the needs of your staff, recognizing your management or leadership skills, and understandingRead MoreThe Importance Of Management943 Words   |  4 Pagesbut also working in the community to make a real difference. I have and will continue to dedicate myself both professionally and personally to serving and leading in this community. I have a clear objective of what I want to accomplish and the importance of the t ask. I want to be the voice of a segment of Nashville that’s often forgotten, overlooked and displaced. Serving them to best of my ability is my dream and I would love your help in doing so. I currently serve as the Vice President of FairRead MoreThe Importance Of Management And The Functions Of Management1277 Words   |  6 PagesThis semester in Management 240, I was taught the mechanics and technical terms of what being a manager is. I was shown what some challenges are in the workplace and how a manager can overcome each of these challenges. The manager I interviewed was Shawn Sims, who is the CEO and President of his own communication company. While interviewing him, I could see the information I learned this semester put in a practical use and that helped me understand the material more. Through the course, I learnedRead MoreThe Importance Of Management1890 Words   |  8 PagesOne of the management task that I have taken over this semester is the dismissal procedures.   Ive watched my CT do this for a few weeks now, and it always goes a little something like this: The school day for our students ends at two thirty-five pm, so at around two Oclock, my CT will have the students put up whatever classwork we are working on and give them the green light to go to social centers. These are centers like Legos, the play kitchen, class library, etc. with the point being for theRead MoreThe Importance Of Project Management Competencies And Their Importance1288 Words   |  6 Pagespurpose of this study is to analyze the importance of project management competencies to obtain a successful career in the field. The problems addressed in this analysis are to gain an understanding of the project management competencies needed for successful implementation in any industry given. The analysis contributes to research and practice in two ways. The first is the identification and reporting of project management competencies and their importance. Secondly, the analysis proposes a frameworkRead MoreThe Importance of Time Management1424 Words   |  6 PagesSPC Bec ky Geiger 5 April 2013 Corrective Training The importance of time management. Steps to take to avoid or prevent tardiness. There are many reasons that time management is important. For example, if your unit was getting ready for deployment, you would need to be at the right place at the right the time, to receive any information you or your fellow soldiers may need to know before you leave. If you weren’t there when you were told to be then you would fall court martial under articleRead MoreImportance of Project Management1533 Words   |  6 PagesProject Management Introduction Project management is one of the most important activities that companies develop. This is because their activity is divided into several projects in order to better manage their resources. This also allows them to improve their performance. In addition to this, companies use project management in order to increase the efficiency of their employees. By working in projects, employees can develop a series of skills that allow them to improve their work. ThereforeRead MoreThe Importance Of Business Management1436 Words   |  6 Pagesorganization as a whole. Each concern is best addressed with as much rational discussion as possible. †¢ Leadership from top management Top management has three constituent groups to lead and support: managers, affected staff, and survivors. The natural inclination may be to delegate unwelcome tasks, yet competent leadership requires the personal involvement of top management. Supporting these groups through the challenging times reveals more about a manager’s character and care for staff than doRead MoreImportance of Risk Management1157 Words   |  5 PagesMGD426 Risk Management Overview A risk is, consequently, a hazard that can derail an organization from accomplishing a business process, project, or any activity that is vital to a company’s sustenance. There are different classifications of risks: financial, operational, infrastructure, human capital, and marketing risks. These risks embody subcategories of risks that can negatively affect the company. Leverage, receivables, and investments are risks can hinder the financial situations of a