The Importance of Management Concepts

“Management manages by making decisions and by seeing that those decisions are implemented.” – Horald S. Geneen, British Businessman

Management is a specialized body of knowledge having its own principles, concepts and techniques. Understanding management concepts is essential for running a business successfully and managing the operations of an organization in an effective and efficient manner.

Management is a necessary concomitant to any organization to grow and develop and survive in the market, while it’s of great value and importance in attainting its prime objectives that is, generating profits, being capable of meeting financial obligations, increasing overall effectiveness and efficiencies

Management is also essential to heighten the organization to its desired level and leading the organization towards enhancing the total organizational competencies. In the absence of management, the activities will be messed up. It is therefore important to know and understand the concepts of management so as to attain the predefined organizational goals and objectives as intended or planned.

Since management has its own concepts and functions that are helpful to managers or supervisors in managing the related activities or operations in an effective and efficient manner, it is essential to know and understand the management concepts and acquire the required skills, so that they can apply them successfully and extract benefits accordingly. In this way, one of the definitions of management is worth mentioning:“Management is that process by which managers create, direct, maintain and operate purposive organization through systematic, coordinated and cooperative human efforts.”

Acquiring the knowledge of management as a subject and developing management concepts is as necessary as other skills that are required to carry out the activities of a particular position. Management concepts provide a great help and assistance in managing men and organizing their associated activities. A good knowledge of management and its related concepts help one greatly in managing the people. It aids immensely in applying the concepts for motivating the team members towards the attainment of their specific objectives and creating the sense of responsibility towards the common goals of a business entity.

One of the most important objectives from the perspective of training and development programs of a business organization is that there must be an effective utilization of human energy in the direction of leadership roles and positions. In this way, on the basis of required skills, experience and educational background, employee is promoted to higher positions. It is where he needs to learn and develop management concepts, because the tasks involve managing the people who are assigned under him. It’s therefore the management concepts are of great importance, as understanding them provides full assistance in the accomplishment of specific objectives of a business organization in a successful manner.

Written by:
K. A. Fareed (Fareed Siddiqui)
Writer, Trainer, Author, Blogger, Software Developer
BBA, MBA-Finance, MPhil-Financial Management, (PhD-Management)
MA-English, MPhil-English
Post Graduate Diploma in Computer Applications and Programming
Certificate course in English language proficiency
Level 1 – Leadership and Management ILM – UK
Pursuing CMA-USA
Individual Member of Institute of Management Consultants of India

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