Answer to Question #214671 in Management for Arif

Question

“Management is undoubtedly one of humankind’s most important inventions.” Do

you agree with this statement? Why or why not?

Answer 1

I agree due to the following

Obtaining Company Goals

When a firm begins operations, precise goals are established that can only be met if all elements of the organization work together and efficiently. Proper management ensures that all parts of the organization work in unison to achieve a shared goal. Management really prepares, executes, and balances a company's resources so that there is maximum work production to achieve the organization's goals as quickly as possible while maintaining work quality. In the lack of appropriate management, separate sectors strive to meet their respective goals. However, the shared aim may not be met, resulting in extra delays, costs, and poor product quality.

Wastage Reduction

When a company's resources are properly managed, waste is eliminated, decreasing total expenses and achieving the condition of ‘ resource optimization’ This indicates that the firm gains from production and greater efficient utilization of input. Proper resource use and waste reduction avoid both underemployment and resource exploitation. In addition, management can identify constrained resources and develop alternatives for them, lowering costs still more. It also makes use of job specialization, which leads to higher production and quality output.

Simplifies Structure of the Organization

Management is in charge of efficient work division, specialization, and resource allocation. This ensures a consistent flow of work and establishes clear limits for tasks, authority, and rights. This structure is required since it explains each employee's position and sphere of influence inside the business. In such a situation, every employee would be aware of their fundamental rights, obligations, immediate superiors, and subordinates, as well as the prospects that await him as his relationship with the firm deepens. Effective management also ensures that no two individuals are doing the same job and that the appropriate person is assigned.

Improves Stability

The firm should be managed in such a way that external market turbulences do not impede its operations. This necessitates successful adjustments in the firm that do not jeopardize the company's position or its employees. This will not be achieved without good management. Management will improve stability and agility, allowing it to endure market circumstances and develop over time. Furthermore, workers would not be concerned about losing their jobs, which would allow them to work with greater peace of mind.

The “ Feel Good Factor” is provided.

‘‘ Management is an art of getting things done through and with people in officially structured groups,” says Harold Koontz. This remark establishes the significance of humans in the overall circumstance. It is critical to keep employees satisfied for the firm to run smoothly. An efficiently managed firm prospers quickly and generates more income, bringing up new opportunities for the people involved. The rising trend in the growth chart guarantees the workers of higher wages and better positions, which motivates them to do better work.

Profits abound

This is the result of the cumulative effect of all of the advantages described above. Proper management aids in developing an effective organizational structure, establishing challenging but realistic goals and optimizing resource usage (both human and otherwise). Profits are increased in this situation by boosting productivity and lowering costs. Employees that are happy and de-stressed work with greater fervor and enthusiasm. This improves the quality and quantity of work, which assists in the company's growth, defeating the competition and emerging triumphant!