Objectives of Management

How effectively an organization achieves its objectives (profit or service) depends upon how effectively it is manages. Management serves the following objectives to help organization meet their goals:

1. Helps an organization achieve its objectives:

 Management provides help and knowledge to managers to enable organizations achieve their objectives at minimum cost. it enables managers to work efficiently, that is, achieve outputs at minimum cost of resources.

2. Promotes effectiveness:

Efficiency means ‘doing things right’ and effectiveness means ‘doing the right things’ It means choosing the most appropriate organizational objectives out of multiple objectives. Lack of effectiveness or choosing wrong objectives will result in inefficiency, how so ever hard managers may work. Management, thus, enables managers to find out the right things to do and to concentrate on those things efficiently.

3. Develops the ability of mangers:

Managers should not only be skilled in problem solving they should be equally skilled in problem-finding. They should anticipate problems before they arise. They should find and take advantage of opportunities to make their organizations competitive into the market. Management develops the analytical abilities of managers (problem solving) and the ability to find problems and exploit gainful business opportunities

4. Human Welfare:

Employs of a business organization want to satisfy their physiological (food, clothing, shelter), social and security needs. Management helps in knowing these needs and satisfies them through suitable motivators.

5. Social welfare:

Organizations operate in a larger social system. The performance of business organizations largely affects the welfare of a society and through it the welfare of nation.Management develops business organization as socially acceptable institutions which give gainful employment to people to earn their livelihood.

6. Interaction with environment:

Business operates in the larger environment that consists of economic and non-economic variables. Business firms secure inputs from the environment, transform them into outputs and give them back to the environment. They service if they adapt their plans and policies to the environmental requirement. They survive if they adapt their plans and policies to the environmental requirements and change their business operations according to changes in the excrement. Management helps firms to successfully frame and alter their policies to profitably interact with the lager environment.

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