Enrol Now
Management

Importance of management in an organization

Online Manipal Editorial Team | November 19, 2022

Management involves planning, organizing, staffing and directing a group of people to accomplish some task. To be an effective leader, you must understand how to manage your workforce. The first step in managing employees is to set goals for the work unit or department—goals that will help achieve overall organizational goals.

Next comes job analysis and the establishment of performance standards for each position within your organization. From there, you can develop job descriptions and find out which employees are best suited by matching their skills with available positions within your company’s structure, as well as developing training programs that will help them grow into their roles as leaders within your business.

In this article, we’ll discuss the importance of management in business and the importance of human resources management in an organization.

What are the main roles and responsibilities of a manager?

A manager is responsible for the success and failure of an organization. A manager is also responsible for the performance of employees and other people who work in the organization. A manager has to manage human resources, finances, operations and other things related to running a successful business. Effective management is important in an organization because it helps in achieving goals and objectives.

Reasons why managers are important for any organization

The importance of management in an organization is multifaceted. Managers are important for any organization to achieve its goals. They are the backbone of any organization, and their role is to ensure that everything runs smoothly in the company. The success or failure of an organization depends on how well its managers handle their responsibilities.

Managers can be categorized as general managers, who oversee several departments of an organization; functional managers, who deal with one aspect of running a business, such as sales or accounting; and project leaders, who oversee a particular project within their department or division. A general manager oversees all the different departments, while a functional manager manages one particular department. A project leader is responsible for overseeing a specific project or task within an organization.

Let’s check the importance of management:

Helps achieve company’s goals: Managers help to achieve the organization’s goals. Managers set the vision and strategy of an organization and manage resources and people in order to successfully reach those goals. Managers are also responsible for hiring qualified team members who will be able to take on tasks that need to be done within the company.

Optimum utilization of resources: Managers are responsible for the allocation of resources within an organization. The ability to identify, allocate and manage resources efficiently is key to a successful business.

Provide guidance and direction to employees: Managers should be able to communicate effectively with their employees, giving them a sense of direction by providing regular updates on what is expected of them. They also provide feedback on an ongoing basis about how well the employee is performing in that role, as well as whether there’s anything they could do differently or better next time.

To maintain an efficient work culture: A good work culture is one where employees are motivated and feel proud to be part of the organization. Managers maintain an efficient work culture and ensure that all employees have access to necessary resources like equipment or software so that they can carry out their tasks effectively.

Cost reduction: Cost reduction is a key responsibility and demonstrates the importance of strategic management. Managers are responsible for the cost of production, which includes personnel costs and overhead costs such as office supplies and utilities. Normally, managers do not have direct control over these types of expenditures; however, they can influence them through various means, such as staff training or policy changes.

In addition to reducing operational costs by cutting unnecessary expenses like paperclips or unused office space, it’s also important for them to monitor financial performance so that they can identify areas where there may be room for improvement in terms of productivity.

Organizational growth and development: Managers are responsible for bringing new ideas to the table, implementing those ideas, and helping the organization grow. They also need to make sure that employees have a clear understanding of the goals for their jobs, which can help them reach their full potential.

How does an MBA prepare you for a management position in a company?

Let’s see how an MBA degree prepares you for a management position:

  • You will have a better understanding of the business environment and how it is changing.
  • You can learn about various management functions and how they work together to make a profitable organization.
  • You will gain knowledge about different fields, such as accounting, finance, marketing and human resources. This helps in developing skills required for more complex managerial positions later on in your career.

You can also read: How can an online MBA degree help you?

Choose Online Manipal

Manipal University Jaipur offers one of the best online MBA programs, through Online Manipal, designed to meet the standards of individuals who wish to explore a career in business management. MUJ’s online MBA is UGC-entitled and NAAC A+ accredited. With an enhanced digital learning platform, students can interact with peers & faculty and take up quizzes and tests. Enroll today to explore a lucrative career in management. 

Enrol with us

Interested to join our courses?
Share your details and we'll get back to you.



    Send OTP


    OTP verified
    Invalid OTP