Management plays a vital role in achieving organizational goals and national development. Effective management is needed for any organization, whether large or small, profitable or non-profitable, to accomplish its predetermined objectives. Management helps organizations maximize the use of available resources, minimize production costs, and face cutthroat competition. It also enables the development of people by creating new opportunities for investment, income, employment and business. Overall, management is essential for the success and growth of any organization or business.

1. By Management Study online (MSO) Team

2. Management plays an important role in all around development of organization as well as nation. In fact, either
organization may big or small, profitable and non-profitable. Every organization needs an effective management
system with a view to achieve its predetermined goals in the most appropriate way. In the absence of an effective
management system any organization cannot able to achieve its preset goals in the proper way. Even a nation
cannot develop by leaps and bounds in the lack of effective management system. Hence, it is clear that
management is a life-giving element for organization and nation as well.
Importance or Significance or Advantages of Management can be described as follows:
To obtain Pre-determined goals
→ To take maximum use of available resources
→ To minimize cost of Productions
→
To face cut-throat Competition
→ For development of people
→ Significant to business
→

3. To obtain Pre-determined goals: Management play a significant role in
the attainment of Pre-determined goals of an enterprise. In fact, in the
absence of an effective management system any enterprise or
organization can never achieve its Pre-determined goals in the most
economic and proper way, because any organization cannot able to
integrate all the available resources by the proper utilization of man
power in the lack of effective management system. Thus it is clear that
management helps to obtain Pre-set goals of organization.
To take maximum use of available resources: Management provides
certain platform to organization to take maximum advantages from
available resources for the achievement of its pre-determined goals. In
fact, it integrates all the available resources in such way so that every
employee can easily utilize the resources for the purpose of achieving the
pre-determined goals of organization.

4. To minimize cost of Productions: Management is one of the important means of
reducing cost of productions of organization. In fact, in the absence of establishing
efficient management system any organization cannot able to produce maximum
levels of production with minimum costs because management creates such an
environment in organization where every employee can take equal initiative and
contributes their hundred percent efforts in the minimization of cost of
productions. Hence, it is clear that management helps to minimize cost of
productions.
To face cut-throat Competition: In this modern age cut-throat competition is
going on, in full of swing among organizations to take high status in the market on
behalf of its products. But it cannot be possible for any organization to take high
status in the market on behalf of its own products in the lack of proper and
effective management system because any organization cannot able to produce
maximum levels of product with minimum costs and good qualities without
efficient management system then how can organization take high status in the
market by its products. So it is clear that management helps to organization to face
cut-throat competition.

5. For development of people: Management provides a great platform for
the development of people due to creative function in nature. In fact, it
creates so many things for all around development of people. It contributes
to new investments, incomes, employments and new business etc in nation.
So that people can get more benefits from these things and can make their
life more comfortable and blissful. Thus, we can say that management is one
of the most important means for development of people.
Significant to business: Management also plays an important role in all
around development of business. In the absence of efficient management
system any business cannot run smoothly. In fact, management is the lifegiving element for business organization because without the leadership of
management any business organization can never attain its pre-determined
goals in the most efficient and economic way. On the whole it is clear that
management is one of the most essential ways for all around development
of Business organization.