When running the business there is a process to achieve the expected goals, the process has to be implemented well and has to be taken care in an effective way.
There are many things which has to be taken care of to run a successful business like employees, finance, marketing and any other things must taken care of well.
What is Management?
Management is a process of planning, decision making, organizing and controlling the human resources, financial and information of the organization to achieve the expected goals in an effectively and efficiently.
Management is very important for the organization to run all the process smoothly. Effective management plays an important role in successful organization, managing organization means getting things done with the help of people to achieve the organizational goals. In a very layman language we can say that solving the problem in such a way that everyone will get the benefit out of it is a management.
What is management an art or a science, most of the expert thinks people who have formal education in management than for them managing things will be easy. Management is an art of getting things done from others with better coordination with the living and non-living resources within the organizations.
Functions of the Management
Doing things in a systematic way is a main function of the management; let’s take a look at the function of the management
- · Planning
It’s the very first function of t he management, through planning we decide what we have to do in future and how we have to do it, planning helps in managing all the actions which will takes place in the future. Effective planning helps the organization to see where we are now and where we will be in the future. Planning is a systematic way of thinking which will help you to achieve the future goals, an effective planning always has a balance between external and internal factors.
- · Organizing
Organizing helps in gathering all kind of resources which helps the organization to grow and also helps in achieving the future goals. Organizations involves identify the activity to achieve the goals then segregate the activity and assigning the duties to complete the activities.
- · Staffing
Each and every company wants the best work force in their company and staffing helps in hiring and retaining the best work force for the betterment of the company. Staffing involves recruiting, training and development and keep the employees motivated so that they can add value in the organization, hiring the right candidate for completing the task is very important.
- · Directing
Directing plays an important role in the growth and achieving the organizational goals. This is managerial part of the company where and more important than planning, organizing and directing as all three are on papers but directing helps in doing the actual work. The main purpose of directing is supervision, motivation, leadership and effective communication.
- · Controlling
Sometimes achieving the big targets we divert from the pre decided path and which can be harmful, controlling helps to stay focused towards your goals. Controlling helps in maintaining the work standard and guide us to follow the desired path for the success.
Importance of Management
The success of the company highly depends on how the company is managed; no matter if it’s a small, medium or big organization management of that company can’t be ignored. Let’s look at some of the importance of the management.
- · Helps in Achieving the Goals
Management gathers all the resources of the company so that they can work together in one way to achieve the given task and to achieve the organizational goals at the shortest possible time. Management helps in deciding the goals for the organization without wasting time, money and resources and also helps in finding the best possible way to achieve those goals.
- · Utilization of the Resources
Management helps in utilizing the available resources in the best possible way to run the organization smoothly and to complete the assigned task. Management plans everything is such a way that resource be it employee or the machine used as per their skills and production capacity.
- · Reduces the Cost
Management plans in such a way that all the resource deliver the maximum output with minimum input, it helps in planning in such a way that resources combined in the best combination to get the desired results with minimum cost.
- · Increased Efficiency
Through the effective management all the resources are placed and used as per the skills and productivity which will lead to the higher efficiency of the resources and once the efficient got increased organization start the journey towards success.
- · Handle the Competition Effectively
Management aim has to be more profitable and become the market leader in whatever they do, they plan things in such a way that production completed on time and customer get the products on time and quality has to be effective and sales and services must be very good.
Management of the company has to be effective and planned in such a way that it always focus on the organizational goals and gather all the resources on one platform so that company can use the resource as per skill and knowledge so that company can grown and run smooth as per the plan.
Management is not only about planning, reducing the cost but it is all about to find the best possible way to achieve the organizational goals with the shortest possible time and without hampering the quality of the products and services.
No matter if the company is small, medium or big id managed effectively then achievement the success id not very difficult, the difficult task is to manage the day to day activity within the company.A