Explain by giving any four points why management is important in any organisation.

(ii) Management Increases Efficiency: A manager increases efficiency through theoptimum utilisation of all the resources, such as, Man, Machine, Material and Money.

(iii) Management Creates a Dynamic Organisation: Every organisation works in an everchanging environment. To face the changing environment, many changes need to be madein the organisation as well. But people resist changes. Manager creates a favourableenvironment through introducing employees to the benefits arising by adapting changes.

(iv) Management helps in achieving Personal Objectives: Every employee wants to getsuitable remuneration, a share in profit, participation in management, promotion, etc. in theform of his personal objectives. This objective can only be achieved, if they work while usingtheir full abilities. Managers make employees able through motivation, good leadership andopen communication. As a result, they attain their individual objectives.