Important of Management that every teacher should
- optimum Utilization of Resources: Today, management has become an important factor of production which helps make the best use of other factors of production like materials, machinery, manpower, and money. It stimulates the forces of economic growth. Managers create and maintain an environment conducive to higher productivity. Thus, management is a catalyst without which no organization can survive and grow.
- Maximum Production at a Minimum Cost: In the present age of competition, no business can succeed until and unless it can provide goods and services at the lowest possible rate/price/cost. The necessity of effective and efficient management is in achieving the target of maximum production at minimum cost. We cannot even dream of a welfare state without well-organized management. The role of expert management has become indispensable with the ever-increasing growth of the capital-intensive industry.
- Accomplishment of Group Goals: The success of an organization lies in three important factors, i.e.
a. How efficiently and economically the organization has used its human and material resources?
b. how effectively the organization has adapted to the prevailing business environment?
c. how far the existing organizational policies have succeeded in realizing the aims and objectives of the business?
Management brings the enterprise in tune with the requirements of a changing environment by removing its weaknesses, by innovating new products or policies, or by making other adjustments in its policies and plans. - Efficient Running of Organization: The success and efficiency of an organization depend on the skill, ability, cooperation, experience, and enthusiasm of its human force. Management makes sure that the people know their jobs, demonstrate the proper methods of doing their jobs, and helps them in improving their skills. Management always encourages human force to put in their best performance.
- Generation of Employment Opportunities: Managers create job opportunities by setting up new branches or expanding the existing ones.