Fundamentals of Management

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Importance of Management

Attainment of Goals:

• Every organisation has a goal to achieve.

• Each employee in the organisation also has his own goals.

• Each department, each unit or even each group has a goal.

• It’s achieve only through proper management – by well thought of planning,

Stability and Growth:

• Strive to utilise the available resources of the organisation effectively and efficiently.

• Controls the activities and operations, integrates the functions, and motivates the employees.

• Ensures stability to the working of the organisation.

Change and Development:

• Management keeps itself changes in the environment and development in the future.

• Plans are made to keep the organisation ready to meet the challenges.

• Technologies, operations, process as human factors are developed on a continuous basis.

Efficiency and Effectiveness:

• Management helps in achieving efficiency and effectiveness to human efforts and operations.

• By proper planning, staffing, organising, coordinating, directing and its controlling activities.

Levels of Management:

There are certain levels of management with different degree of authority and responsibilities.

• Managers performing various types of duties.

• This three levels of management taken together form the ‘hierarchy of management’.

• Middle-level management is subordinate to the top-level.

• Lower-level is subordinate to the middle-level management.

Three Categories of Level of Management:

• Top-Level Management

• Middle-Level Management

• Lower-Level Management