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What is the importance of management?

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What is the importance of management?

Posted by Utkarsh Karna 2 years, 10 months ago

CBSE > Class 12 > Business Studies

1 answers

Sia ? 2 years, 10 months ago

According to Drucker, "Management is the dynamic life-giving element in every organization. Without it, the resources of production remain resources" It is the activating force that gets things done through people. Management is an art of getting things done through others and than seeing it that they do it in best & cheapest way.
The importance of management can be understood from the following points.

Management helps in achieving group goals. An organization sets certain goals. Management aims at achieving such goals by directing the individual efforts. Management have to coordinate the efforts of all departments towards the goal of the orgnization.
Management increases efficiency With proper planning. organising, staffing. directing and controlling the activities of the organisation, management increases the efficiency and effectiveness of workers by producing maximum output with minimum cost and in giving time period.

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Posted by Jatin Pokhariya 4 months ago

CBSE > Class 12 > Business Studies

0 answers

Relo Ltd. is laptop manufacturing company. The company decides to enter into refrigerator manufacturing industry. The compathahasa committed top management. It knows that there are various challenges in the market where its decisions regarding the new industry might fail Still the top management doesn't want to waste a lot of resources on its plans. It knows that sometimes plans take more time in making than getting implemented. However, the company wants to proceed with a positive approach. It has decided to study all the aspects of its competitors, to set all its objectives and to allocate the required resources. The company did well in its previous business. At that time, they took planning very seriously as they knew everything the company would do had to be based on concrete plans. The company will start its operations from next month. Q. (i) Identify and explain the function of management that has been discussed in the above case? (ii) Identify and explain the limitations of the function identified in above (i)

Posted by Deexita Swarnkar 3 months, 4 weeks ago

CBSE > Class 12 > Business Studies

0 answers

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Posted by Yuvraj Singh 4 months, 2 weeks ago

CBSE > Class 12 > Business Studies

0 answers

Henri fayol ke principles workplace par Kitne apply ho rahi hai ya Nahi Hai

Posted by Anshika Aggarwal 4 months, 4 weeks ago

CBSE > Class 12 > Business Studies

1 answers

Although internal recruitment many benefits still business refers external recruitment why?give 3 reasons

Posted by Shreya Mishra 4 months ago

CBSE > Class 12 > Business Studies

2 answers

2. Hero Ltd.’s target is to produce 10,000 shirts per month at a cost of ₹ 150 per shirt. The Production Manager was able to produce 10,000 shirts at a cost of ₹ 140 per shirt but not within the stipulated time. As a result, there was loss of revenue. In this case the Production Manager is: a. effective but not efficient b. efficient but not effective c. Neither effective nor efficient d. All of these

Posted by Saku Shar 5 months ago

CBSE > Class 12 > Business Studies

1 answers

This content has been hidden. One or more users have flagged this content as inappropriate. Once content is flagged, it is hidden from users and is reviewed by myCBSEguide team against our Community Guidelines. If content is found in violation, the user posting this content will be banned for 30 days from using Homework help section. Suspended users will receive error while adding question or answer. Question comments have also been disabled. Read community guidelines at https://mycbseguide.com/community-guidelines.html

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Posted by Naina Mishra 4 months, 2 weeks ago

CBSE > Class 12 > Business Studies

0 answers

The top officials of a country’s Government held a meeting in order to speed up the business growth. In the meeting it was decided that there was a need for granting several exemptions to the Business Units already established. Similiarly ,they felt that with a view to setting up new Business Units the young men needed to be encouraged. Also it was emphasized in the meeting that the entry of Multinational companies needed to be simplified. Besides, priority was given to relaxing restrictions imposed on Import Business. The main reason for the Government to think like this was to speed up the economic growth. Identify the likely impact of the Government’s policy on business described in the paragraph given above.

Posted by Gautam Singhal 4 months, 2 weeks ago

CBSE > Class 12 > Business Studies

0 answers

Identify the marketing management philosophy adopted in the following cases: Chanda, a note-book manufacturer for students, decided to maximize her profit by producing and distributing at large scale and thereby reducing the average cost of production. Indira, a dealer of refrigerators decided to maximize her profits by using different promotional efforts in an aggressive way. Shikha surveyed the market and found that customers need lemon based cold drinks in summers. She decided to produce lemon-masala cold drinks in the market.

Posted by Deexita Swarnkar 3 months, 4 weeks ago

CBSE > Class 12 > Business Studies

0 answers

This content has been hidden. One or more users have flagged this content as inappropriate. Once content is flagged, it is hidden from users and is reviewed by myCBSEguide team against our Community Guidelines. If content is found in violation, the user posting this content will be banned for 30 days from using Homework help section. Suspended users will receive error while adding question or answer. Question comments have also been disabled. Read community guidelines at https://mycbseguide.com/community-guidelines.html

Few rules to keep homework help section safe, clean and informative.

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Don't use this platform for chatting, social networking and making friends. This platform is meant only for asking subject specific and study related questions.
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Posted by Vanshika Nandwani 4 months, 2 weeks ago

CBSE > Class 12 > Business Studies

0 answers

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