Importance of Management in an Organisation

No organisation can run without management, which plays a pivotal role in managing and coordinating varied functions. Management importance in an organisation is such that it can be termed as the backbone of an organisation without which its success and growth is impossible. Management coordinates between teams and processes to ensure that the organisation achieves its goals and success effectively. Management fosters teamwork and innovation by adapting to the changing needs of the time. It is the duty of the management to make sure that the right task is performed at the right time by the right employee using the right resources. With effective management strategies, the productivity of organisations is enhanced while limiting costs. This makes it indispensable for the smooth functioning and long-term success of any organisation.

In this post, we are discussing why management is important and its role in the success of an organisation.

Why Management is Important for the Success of a Business?

Management is crucial for business development and the day-to-day operations of a company. Below are some reasons why management is important for the success of a business:

Organisational Value - Management defines the values of an organisation along with defining its vision and mission.

Organisational Objectives – Management sets the calculated objectives of organisations

Allocate Resources – Management is responsible for allocating resources and responsibilities among the various teams and employees of an organisation

Communication – Management is also responsible for communicating and coordinating various decisions of the organisation to the employees

Performance – Management is also assigned the task of evaluating the performances and outcomes of an organisation.

Motivate Employees – It is the responsibility of the management to motivate and develop the required skills and abilities of the employees of an organisation.

Conflict Resolve – Management has to resolve conflicts and issues arising within or outside organisations

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What key roles and responsibilities are performed by managers?

The key roles and responsibilities performed by the manager make them so important for the smooth functioning and growth of an organisation. Below are some reasons that prove the importance of managers in organisations.

· Work to Achieve Business Goals

Managers are pivotal in helping organisations achieve their goals and to reach such goals managers have to make optimum use of their resources. They must hire skilled people who can perform their duties well to help reach company targets and goals.

· Make use of Resources Optimally

As already mentioned, managers are responsible for optimally allocating resources within an organisation for the success and growth of the organisation.

· Guide and Motivate Employees

Managers are responsible for boosting the morale of employees by guiding and motivating them. They must communicate with their employees and show them the right direction with regular feedback.

· Work towards Cost Cutting

Limiting costs as much as possible is another important role of managers. Although managers may not be able to directly control such costs, they can at least influence them in many different ways as well as through policy changes.

· Help in the Growth and Development of Business

Managers are responsible for generating new ideas and helping businesses grow. They must ensure that employees are clear about their goals and do their jobs well.

Also Read:- Confused between The Various MBA Degrees Available? A Guide to Help You Clear Your Confusion

How is management changing in the digital era?

Digitization has an impact on everything including management. The digital era has opened the path towards new opportunities. At the same time, it has brought new challenges related to technological transformations and business operations.

Here are some important management changes brought about in the digital era:

Agile – With the coming of the digital era, management has opted for agility. They are becoming quick in responding to customer needs. They are not being that rigid anymore in terms of their policies and procedures. They are rapidly embracing new technologies and evolving market conditions.

Collective Effort – In the digitization era, management is relying more on collaborative efforts rather than on hierarchical authority. Managers are responsible to communicate and synchronise with teams and team members across boundaries. They need to create platforms that enable easy communication and cooperation among business organisations.

Purpose Driven – The age of digitization has also seen management becoming goal-oriented by focusing more on productivity. To increase productivity managers are required to give priority to the well-being and growth of their employees. They have to align teams with the company values to inspire them to work with a positive influence.

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How do Online Programmes like BBA and MBA Help Students Prepare for Managerial Positions?

Bachelor of Business Administration (BBA) is a 3-year degree programme and a good career option for students who want to pursue jobs in managerial, administrative, and operational positions. A degree in BBA lets students acquire practical business management and operation skills.

Similarly, MBA programmes give a better understanding of the business ecosystem to help students understand the changing business environments. They gain an understanding of varied fields and acquire skills needed to manage complex managerial positions during their career.

Also Read:- Entrepreneurship After an Online MBA: Launching Your Own Venture with Confidence

Conclusion

If you are keen to start a career in the field of management and want to join an online UG course in BBA or an online PG course in MBA, the best institution to enroll in is Amity Online University.  Besides BBA and MBA, Amity offers various other online courses at the UG and PG levels for students who want to pursue online courses as per their comfort and flexibility. Amity’s online programmes are NAAC A+ accredited and are recognised by UGC. They allow enhanced learning opportunities digitally through various platforms to help students have good interaction with their faculty and industry experts to gain practical know-how and stay connected to the latest trends. Visit Amity Online today to learn more.

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