Organizational Management

“Management is about making plans and implements them effectively.”

“Management is a process of getting activities completed effectively and efficiently with and through other people.”

“Management is doing things efficiently and effectively.”

Efficiency:
Efficiency is to get maximum output from minimum input.
OR
It is to get maximum profit from minimum resources.

Effectively:
Effectiveness means goal attainment and doing right things at the right time.

• Minimum resource utilization
• Vital part of management
• Goal/Objects Attainment and goals should be achievable.
• Management should be efficient as well as effective.
• A person can be efficient without being effective. He may get the things done with minimum sources but as far objective isn’t met it’s not effective.

Need / Importance of Management

Good Management is required for:

• Optimum utilization of resources (Cost competitiveness)
• Motivates personnel (Effectively utilize human resource)
• Facilitates innovation (Explore opportunities)
• Improve Efficiency (get the things fast or efficiently and effectively)
• Competitive Advantage (Survive and win over competitors)