Importance of management

All our lives, we have been part of a management in one way or the other. Sometimes, we have worked under a management, and sometimes we have been part of the managing team. If you think carefully, you will see management is involved in every aspect of life. None of us would ever be able to get anything accomplished if we had not managed the tasks and our lives around them.

It is important in every aspect of life, but nowhere is the importance of management more apparent than in a workplace. It is effective management that guides the employees into working efficiently and productively. In this article, we will discuss how and why management is so important in the success of a business and in life.

importance of management

Leads by example

An effective management leads by example. That is, if the management is good, the boss will not relax and play golf while the employees work overtime. If the employees see the bosses engaging in corrupt activities, it cannot be hoped that said employees will take the path of virtue. A good manager will not ask the employees to take part in any unethical activity, and will not perform an activity that will create a bad impression on and negatively influence the employees.

Effective management is the proper direction and usage of available resources, so that they are utilized to the maximum potential and maximize profits, ensuring, at the same time, that everyone, from the bosses to the junior employee, stands to benefit from the transaction.

Incoming profit

Proper management is essential to ensure that the company remains in profit. It is impossible for that to happen if the employees are not happy, and feel that there is nothing in it for them. It is extremely important that the employers treat their employees well; that is an integral part of good management. If resentment festers among the employees, it will be impossible for the company to retain employees who will be hardworking and will willingly take up responsibilities. It is the management’s duty to ensure that the employees also stand to gain from the work that they do, instead of hoarding all profits for the top bosses.

Good teamwork

The organization must be able to function as a team and individually if its goals are to be achieved. It is only through proper management that one can ensure that everyone in the company works towards a single goal, and that there is no discrepancy in their methods and approach toward the job. It is important that everyone in an organization be able to come together seamlessly, and also be able to ensure that the final goal of the organization is met through their efforts.

The management is responsible for ensuring that all the resources of the company are properly used, and that time and work load are properly allocated to make sure that everyone is able to complete their own share of work efficiently and without any glitch. Poor management, on the other hand, will allocate too much work on one person and completely underutilize the potential of another.

Good governance

When a company has good management, everything runs smoothly inside. All resources are employed to the fullest, and all resource allocation is done seamlessly. The management is responsible for explaining to each employee their position and responsibilities in the organization, and also to make sure that employee behavior stays in check. The management is responsible for keeping a sharp look out for any discord or dissonance within the ranks of the organization, and mediate all tiffs expertly and diplomatically.

Wealth and education

Even in daily life, proper management is essential. You need to manage every aspect of your life- personal and professional. There is a time for everything, and it is essential that you do everything in its own time. If you do not get an education at the right time, it will take you far longer to secure a job that you like. If you do not plan how to spend and how to invest your money properly, it is likely that you will be in pretty dire conditions when the time of need arises. Rationing in life is very important and effective management is responsible for that rationing.

Also read: Importance of time management

Management is an integral part of any organization, and effective management is supremely important in ensuring that the company keeps running smoothly. It does not matter whether the organization is big or small, whether it is run by a single boss or a single person working online from home; unless the work is properly managed, it will become impossible to keep abreast of the responsibilities and ensure that profits roll in.

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