Question

Importance / Significance of Management.

Answer 1

• Management is necessary in each field or activity.
• It becomes possible to make optimum use of resources because of Management.
• Management is unavoidable function for the accomplishment of objectives of business unit.
• Success or failure of business depends upon Management.
• Job (employment) opportunities increase because of efficient Management.
• Profit can be maximized by making optimum use of resources.
• Business units provide goods at reasonable rate and contribute to welfare of the society.
• Efficient Management is necessary for economic, social and national development of the economy.