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Management thought and process seem to be losing the magnetic touch and source of competitive success...

Management thought and process seem to be losing the magnetic touch and source of competitive success it once had. Discuss either the pros or cons

Business   Operations-Management   
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Answer #1

PROS OF MANAGEMENT:

1) ACHIEVE GROUP GOALS:- MANAGEMENT CAN COMBINE THE FACTOR OF PRODUCTION AND THE RESOURCES IN  AN EFFECTIVE MANNER TO ACHIEVES THE GROUP  GOALS.

2) DEFINES ORGANISATION OBJECTIVES:- MANAGEMENT REDUCES THE WASTE OF TIME, MONEY AND EFFORTS AND CLEARLY DEFINES THE GOALS OF ORGANISATION.

3) PROPER UTILIZATION  OF RESOURCES:-PROPER USAGE OF PHYSICAL AND HUMAN RESOURCES CAN DE DONE BY MANAGEMENT.

4)REDUCING COST:- PROPER AND EFFECTIVE MANAGEMENT REDUCES THE COST OF ORGANISATION AND LEAD TO HIGH PROFIT MARGINS.

5) SMOOTH FUNCTIONING OF BUSINESS:- WITH PROPER MANAGEMENT ORGANISATION  CAN WORK MORE SMOOTHLY AND THERE WILL BE LESS CONFLICTS AMONG  EMPLOYEES. THEY WILL KNOW WHAT THEY HAVE TO DO.  THE TARGETS WILL BE EASILY ACHIEVED.

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