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Which of the following is not an importance of management?
  • a)
    Management increases efficiency
  • b)
    Management helps achieving individual goals only
  • c)
    Management creates a dynamic organisation
  • d)
    Both (a) and (c)
Correct answer is option 'B'. Can you explain this answer?
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Which of the following is not an importance of management?a)Management...
Importance of Management

Management is an essential function of an organisation that involves planning, organising, directing and controlling resources to achieve the desired goals. The importance of management can be explained as follows:

Increases efficiency: Management helps in maintaining a balance between limited resources and unlimited wants. It ensures that resources are utilised in the best possible way to achieve the goals of the organisation. This leads to an increase in efficiency, productivity and profitability.

Creates a dynamic organisation: Management creates a dynamic organisation that adapts to changes in the environment. It involves continuous planning, organising, directing and controlling to ensure that the organisation is always ready to face challenges and take advantage of opportunities.

Ensures optimum utilisation of resources: Management ensures that resources such as materials, machines, money, and manpower are utilised optimally. It involves allocating resources based on priority and need to achieve the desired results.

Facilitates growth and development: Management facilitates growth and development by identifying opportunities and taking advantage of them. It involves continuous improvement in processes, products, and services to stay competitive in the market.

Not an importance of management:

Helps achieving individual goals only: Management is not limited to achieving individual goals only. Its scope is much broader and includes achieving organisational goals that benefit all stakeholders. Management ensures that all the resources are utilised in the best possible way to achieve the goals of the organisation.
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Which of the following is not an importance of management?a)Management...
Success of every organisation is measured by the extent to which its objectives are
achieved. Management helps in achieving both individual as well as organisational goals.
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Which of the following is not an importance of management?a)Management increases efficiencyb)Management helps achieving individual goals onlyc)Management creates a dynamic organisationd)Both (a) and (c)Correct answer is option 'B'. Can you explain this answer?
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