ROLE & IMPORTANCE OF MANAGEMENT

IMPORTANCE OF MANAGEMENT:

Managers influence all the phases of modern organizations. Sales Managers maintain a sales force that markets goods. Personnel managers provide organizations with a competent and productive workforce. Plant managers run manufacturing operations that produce the clothes we wear, the food we eat, and the automobiles we drive.

Our society could never exist as we know it today nor improve without a steady stream of managers to guide its organizations. The well known management author Peter Drucker highlighted this point when he said that Effective Management is probably the main resource of developed countries and the most needed resource of developing ones.

In short, all societies, whether developed or developing, need a huge lot of good managers.

THE ROLE OF MANAGEMENT:

Essentially, the role of managers is to guide the organizations toward goal accomplishment. All organizations exist for certain purposes or goals,and managers are responsible for combining and using organizational resources to ensure that their organizations achieve their purposes.

The role of the Management is to move an organization towards its purposes or goals by assigning activities that organization members perform.

If Management ensures that all the activities are designed effectively, the production of each individual worker will contribute to the attainment of the organizational goals.

Management strives to encourage individual activity that will lead to reaching organizational goals and to discourage individual activity that will hinder the accomplishment of the organization objectives. 

There is no idea more important than managing the fulfillment of the organizational goals and objectives. The meaning of the Management is given by its goals and objectives.

All managers, must have a single minded focus on the fulfillment of the organizational goals.

 

MANAGEMENT INNOVATIONS

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PETER DRUCKER on Setting Management Objectives

Peter Drucker believed that the survival of the company was at risk when managers emphasized only the profit objective because this single objective emphasis encourage managers to take action that will make money today with little regard for how a profit will be made tomorrow.  

8 key areas in which managers should set management system objectives are:
  1. MARKET STANDING: Management should set objectives indicating where it would like to be in relation to its competitors.                                                                                                         
  2. INNOVATION: Management should set objectives outlining its commitment to the development of new methods of operation.                                                                                             
  3. PRODUCTIVITY: Management should set objectives outlining the target levels of production.                                                                                                                                                     
  4. PHYSICAL & FINANCIAL RESOURCES: Management should set objectives regarding the use, acquisition, and maintenance of capital and monetary resources.                                              
  5. PROFITABILITY: Management should set objectives that specify the profit the company would like to generate.                                                                                                                               
  6. MANAGERIAL PERFORMANCE & DEVELOPMENT: Management should set objectives that specify rates of worker productivity as well as desirable attitudes for workers to possess.                                                                                                                                                  
  7. WORKER PERFORMANCE & ATTITUDE: Management should set objectives that specify rates of worker productivity as well as desirable attitudes for workers to possess.                                        
  8. PUBLIC RESPONSIBILITY: Management should set objectives that indicate the company’s responsibilities to its customers and society and the extent to which the company intends to live up to those responsibilities.