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## Importance of Management It is said that anything minus management amounts to nothing. The main role of management is to organize human and physical resources and direct them towards efficient performance and higher productivity, at the minimum cost. American President Mr Roosevelt had once rema...

## Importance of Management It is said that anything minus management amounts to nothing. The main role of management is to organize human and physical resources and direct them towards efficient performance and higher productivity, at the minimum cost. American President Mr Roosevelt had once remarked that a government without good Management is like a house built on sand. Management provides life to what would otherwise remain only potentialities. Management plays a pivotal and crucial role in a changing and complex society. In case of a business enterprise, management is all the more important. Every business needs repeated stimulus which can only be provided by management. The inputs of labour, capital and raw material never become productive without the catalyst of management. **Importance of Management** * "Management is a dynamic life-giving element in an organisation, without it the resources of production remain mere resources and never become production." -Peter F. Drucker * "There is no more important area of human activity than management since its task is that of getting things done through others." -Koontz O'Donnell * "No business runs itself, even on momentum....every business needs repeated stimulus". -Prof. Robinson Management is an important organ of the society since it is charged with the responsibility of making resources productive. To quote Urwick and Brech, "No ideology, no ism, no political theory can win greater output with less efforts from a given complex of human and material resources, only sound management." The present century may be viewed as a "race between management and disaster. In order to avert disaster, we must adopt effective management. Let us remember, there are no under-developed countries. There are only under-managed ones." Management is all. **Accomplishment of Group Goals** The following points bring out the importance of management in sharp focus: * **Success of a business enterprise lies in three important factors** * how efficiently and economically the organisation has used its human and physical resources * how effectively the organisation had adapted to the prevailing business environment * how far the existing business policies have succeeded in realising the aims and objectives of the business. * **Management brings the enterprise in tune with the requirements of a changed environment by removing its weaknesses, by innovating new products or policies, or by making other adjustments in its policies and plans** * **Optimum Utilisation of Resources** Today management has become an important factor of production which is helpful in making the best use of other factors of production like materials, machinery, man-power and money. It stimulates the forces of economic growth. Managers create and maintain an environment conducive to highest productivity. Thus, management is a catalyst without which no organisation can survive and grow. * **Generation of Employment Opportunities** Managers create job opportunities by setting up the new business house and by expanding existing business enterprises. Managers also help the working force in getting job satisfaction and happiness out of their work. Thus, economic and social needs of the employees can be satisfied. * **Sound Organisation Structure** Management establishes a sound organisation in accordance with the desired objectives. For this, management establishes a pattern of