The Importance of Management Free Essay Example

What is management? What is importance of management?
Management in all business and organizational activities is the act of coordinating the efforts of people to accomplish desired goals and objectives using available resources efficiently and effectively. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources.

Since organizations can be viewed as systems, management can also be defined as human action, including design, to facilitate the production of useful outcomes from a system.

IMPORTANCE:-

The success of any business depends heavily on the effectiveness of its managers. Good managers need to make the right decisions and ensure the business is able to exploit any opportunities open to it. At the same time, good managers protect the business by anticipating and acting against any threats to its welfare.

According to Frenchman Henri Fayol (1841-1925), managers have to: forecast and plan to determine where the business is going

organise the resources necessary to achieve these objectives command people to do things
coordinate the different activities
Control the activities to make sure they are completed as planned. Managers in an organization have to decide on its priorities and allocate resources within it. They must decide what needs doing and how best to do it. A good manager should push the business forward, as new challenges arise, and take responsibility for their decisions.

Management is often included as a factor of production along with? machines, materials, and money. According to the management guru Peter Drucker (1909-2005), the basic task of management includes both marketing and innovation. Practice of modern management originates from the 16th century study of low-efficiency and failures of certain enterprises, conducted by the English statesman Sir Thomas More
(1478-1535). Management consists of the interlocking functions of creating corporate policy and organizing, planning, controlling, and directing an organization’s resources in order to achieve the objectives of that policy.
The points below bring out the significance or importance of management. 1. Encourages Initiative:-
Management encourages initiative. Initiative means to do the right thing at the right time without being told or influenced by the superior. The employees should be encouraged to make their own plans and also to implement these plans. Initiative gives satisfaction to employees and success to organization. 2. Encourages Innovation:-

Management also encourages innovation in the organization. Innovation brings new ideas, new technology, new methods, new products, new services, etc. This makes the organization more competitive and efficient. 3. Facilitates growth and expansion:-

Management makes optimum utilization of available resources. It reduces wastage and increase efficiency. It encourages team work and motivates employees. It also reduces absenteeism and labour turnover. All this results in growth, expansion and diversification of the organization.

4. Improves life of workers:-
Management shares some of its profits with the workers. It provides the workers with good working environment and conditions. It also gives the workers many financial and non-financial incentives. All this improves the quality of life of the workers. 5. Improves corporate image:-

If the management is good, then the organization will produce good quality goods and services. This will improve the goodwill and corporate image of the organization. A good corporate image brings many added benefits to the organization. 6. Motivates employees:-

Management motivates employees by providing financial and non-financial incentives. These incentives increase the willingness and efficiency of the
employees. This results in boosting productivity and profitability of the organization. 7. Optimum use of resources:-

Management brings together the available resources. It makes optimum (best) use of these resources. This brings best results to the organisation. 8. Reduces wastage:-
Management reduces the wastage of human, material and financial resources. Wastage is reduced by proper production planning and control. If wastage is reduced then productivity will increase. 9. Increases efficiency:-

Efficiency is the relationship between returns and cost. Management uses many techniques to increase returns and to reduce costs. Higher efficiency brings many benefits to the organization.

10. Improves relations:-
Management improves relations between individuals, groups, departments and between levels of management. Better relations lead to better team work. Better team work brings success to the organization. 11. Reduces absenteeism and labour turnover:-

An absenteeism mean the employee is absent without permission. Labour Turnover means the employee leaves the organisation.Labour absenteeism and turnover increases the cost and causes many problems in the smooth functioning of the organization. Management uses different techniques to reduce absenteeism and labour turnover in the organization. 12. Encourages Team Work:-

Management encourages employees to work as a team. It develops a team spirit in the organization. This unity brings success to the organization. What are the new paradigms? According to you are these paradigms effective or not? Definition

Intellectual perception or view, accepted by an individual or a society as a clear example, model, or pattern of how things work in the world. This term was used first by the US science fiction historian Thomas Kuhn (1922-96) in
his 1962 book ‘The Structure Of Scientific Revolution’ to refer to theoretical frameworks within which all scientific thinking and practices operate. See also paradigm shift. It is the set of experiences, beliefs, and values that affect the way you perceive what is real and how you should react. A paradigm is a habit of reasoning. Your world view. Effects of paradigm:-

A paradigm is deeply held and you may not always be aware of it. For example, when you were learning how to drive, you learned which side of the road was the “correct” side. It affects every aspect of how you drive, where you look for threats, and even how you cross the street. You do it without even thinking. Doesn’t mean it is right, but it is “real.” If you have ever traveled to another country where they drive on the “wrong” side, it probably took you a long time to adjust your way of seeing, in spite of lots of evidence to the contrary. Because paradigms affect our view of what is real and true, we are slow to change them. Because the paradigms we developers hold affect our behavior as developers. And if we are going to grow and improve as developers, we have to become conscious of the paradigms that keep us in place. In other words, we should always be investigating our beliefs as developers. We can examine our hypotheses and see if reality provides evidence to support or reject them. Hold on to what is accurate, what works, and let go of what doesn’t. Shouldn’t that produce a better guide for our actions and behaviors? That is what I want to do here, briefly: examine the paradigms of software development because they imply certain actions will be affective and others will not.

Traits of the New Paradigm:-
Marilyn Ferguson, in The New Paradigm: Emerging Strategic for Leadership and Organizational Change (Michael Ray and Alan Rinzler, Eds., 1993, New Consciousness Reader) provides a very concise overview of the differences between the old and new paradigm. (The following is summarized.) Old Paradigm

New Paradigm
promote consumption at all costs
appropriate consumption
people to fit jobs
jobs to fit people
imposed goals, top-down decision making
autonomy encouraged, worker participation
fragmentation in work and roles
cross-fertilization by specialists seeing wide relevance
identification with job
identity transcends job description
clock model of company
recognition of uncertainty
aggression, competition
cooperation
work and play separate
blurring of work and play
manipulation and dominance
cooperation with nature
struggle for stability
sense of change, of becoming
quantitative
qualitative as well as quantitative
strictly economic motives
spiritual values transcend material gain
polarized
transcends polarities
short-sighted
ecologically sensitive
rational
rational and intuitive
emphasis on short-term solutions
recognition that long-range efficiency must take in to account harmonious work environment centralized operations
decentralized operations when possible
runaway, unbridled technology
appropriate technology
allopathic treatment of symptoms
attempt to understand the whole, locate deep underlying causes of disharmony