Group 10A Presentation

QuestionWhat 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

1. Helps in achieving group goals 2. Ensures optimum utilization of resources 3. Reduces cost4. Establishes sound organization5. Stabilizes the running of the organization6. Provides the essentials for prosperity of society7. Improves relations8. Improves corporate image9. Motivates employees10. 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 goalsManagement arranges the factors of

production as well as resource and directs group efforts towards pre-determined goals.

Importance of management

2. Optimum utilization of resourcesManagement selects best possible

alternate use in industry from out of various uses to ensure efficiency.

Importance of management

3. Reduces costManagement gets maximum results

through minimum input.

Importance of management

4. Establishes sound organizationNo overlapping of efforts (smooth and

coordinated functions). All jobs are clear to everyone.

Importance of management

5. Stabilizes the running of the organizationIt enables the organization to survive

whenever the environment changes.

Importance of management

6. Essential for prosperity of societyEfficient management leads to better

economical production which helps in turn to increase the welfare of people.

Importance of management

7. Improves relationsEffective communication for better

teamwork for organizational success.

Importance of management

8. Improves corporate imageEffective management improves the

goodwill of the organization.

Importance of management

9. Motivates employeesIncentives 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.

ConclusionThe 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