Group 10A Presentation.

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Presentation transcript:

Group 10A Presentation

Question What is management? Why is it so important?

Introduction Management forms an essential part of all human activities. This is because every human activity requires the application of certain elements or principles of management. This pre-supposes that we all practice some form of management in our daily activities.

What is management? Management is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively.

Importance of management Helps in achieving group goals Ensures optimum utilization of resources Reduces cost Establishes sound organization Stabilizes the running of the organization Provides the essentials for prosperity of society Improves relations Improves corporate image Motivates employees Facilitates growth and expansion

What is management? 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.

Importance of management 1. Helps in achieving group goals Management arranges the factors of production as well as resource and directs group efforts towards pre-determined goals.

Importance of management 2. Optimum utilization of resources Management selects best possible alternate use in industry from out of various uses to ensure efficiency.

Importance of management 3. Reduces cost Management gets maximum results through minimum input.

Importance of management 4. Establishes sound organization No overlapping of efforts (smooth and coordinated functions). All jobs are clear to everyone.

Importance of management 5. Stabilizes the running of the organization It enables the organization to survive whenever the environment changes.

Importance of management 6. Essential for prosperity of society Efficient management leads to better economical production which helps in turn to increase the welfare of people.

Importance of management 7. Improves relations Effective communication for better teamwork for organizational success.

Importance of management 8. Improves corporate image Effective management improves the goodwill of the organization.

Importance of management 9. Motivates employees Incentives increase the willingness and efficiency of the employees resulting in higher productivity.

Importance of management 10. Facilitates growth and expansion When management is effectively applied, efficiency is improved thereby creating an avenue for the growth of the organization.

Conclusion The ultimate goal of any organization is to satisfy a need while making profit. Effective management therefore helps in the realization of this goal.

End of Presentation