In: Economics
The management is defined as the process of reaching organizational objective by working with and coordinating individuals efforts and other resources. It has characteristics such as- it includes reaching organization goals, it is the process of related and continuing activities. The management does not do the work themselves.The management is important for all the successful organization because individuals in each organization need to work together in order to meet some planned goals of the organization. The management takes place in any firm calling for the coordination of the individuals and other resources.
The role of the management is to move the firm towards its goal by assigning the activities to the people working in the organization to perform, The management makes sure that all the activities are designed and allocated effectively and each individual responsible for each activities are contributes to attain the organizational goals. The management responsibility is to encourage the individuals activity which is helpful for reach the organizational goals and discourage the activities which are hinder the accomplishment of the organization goals.
The major functions of management are planning, organizing,staffing, directing and controlling