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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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Business risk is the exposure a company or organization has to factor(s) that will lower its profits or lead it to fail. Anything that threatens a company's ability to achieve its financial goals is considered a business risk.
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Create fan pages on websites, such as Facebook, to start marketing your new drink product online. Post interesting information about your drink product, entertaining stories, comments and other items to continually draw interest from consumers.
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