1. Management brings together all available resources like human, financial, and material resources and utilizes them optimally to achieve organizational objectives efficiently. It helps organizations grow, expand, and diversify through effective achievement of goals. 2. Management reduces absenteeism and turnover by motivating employees through incentives and team building, improving productivity and profits. It also encourages innovation by developing a culture that brings new ideas and techniques. 3. Management minimizes waste of resources and motivates employees to do so, bringing higher returns. It always builds team spirit for unity and prosperity within the organization.