Page 95 - DEDU503_EDUCATIONAL_MANAGEMENT_ENGLISH

Unit 6: Managerial Process and its Importance

The very survival of an enterprise depends on its management. Ineffective management leads to Notes
disastrous consequences. According to George Terry, "Ineffective management cuts at the very roots
of economy of an enterprise's. This suggests the importance of efficient management. In brief,
management occupies a unique position in the functioning of business enterprises. Its importance
and positive role is accepted in all sector-private, public, joint and co-operative. Management is like
a human brain. It is an integral aspect of business itself.
The importance of management is not fully realised in many developing countries. The economic
progress of western countries is not merely due to abundant material resources but because they are
efficiently managed and utilised. In other countries, resources are not utilised fully and properly
due to lack of managerial skills. This suggests that management is a key factor in the working of
business enterprises. There is no substitute to efficient management. An inefficiently managed
business enterprise has no place in the present complex and competitive business world groups.

Self Assessment
3. State whether the following statements one ‘True or False’ :
(i) Planning is the function of management.
(ii) The need of staffing does not arise in the final period and also from time to time for
replacement along with the expansion and diversification of business activities.
(iii) Manpower is the most important asset of a business unit.
(iv) Control is not closely linked with other managerial functions.
(v) The economic progress of western countries is not merely due to abundant material resources
but because they are officially managed and utilised.

6.8 Summary

• Management is a managerial process the task of getting results through others by coordinating
their efforts is known as management.
• Modem business is highly competitive and needs efficient and capable management for survival
and growth. Management is needed as it occupies a unique position in the smooth functioning
of a business unit.
• Management is explained with reference to its basic functions which include planning,
organising, coordinating and controlling. Similarly, management is described as a process which
involves various elements. Management process is a continuous one and is run by the managers
functioning at different levels.
• The elements in the management process are actually the basic functions of management these
functions constitute the management process in practice.
• In the management process, resources and human efforts are used in an orderly manner for
achieving specific objectives.
• Planning is the primary function of management. It involves determination of a course of action
to achieve desired results/objectives.
• Organising is next to planning. It means to bring the resources (men, materials, machines, etc.)
together and use them properly for achieving the objectives.
• Staffing refers to manpower required for the execution of a business plan. Staffing, as managerial
function.
• Directing as a managerial function, deals with guiding and instructing people to do the work
in the right manner.
• Effective coordination and also integration of activities of different departments are essential
for orderly working of an Organisation.

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