Importance of management:
1. It will be all confusion and no body will know what to do and when to do . It is management which guides and controls the activities of man power for the optimum utilization of company resources, such as men, materials, money, machines, methods etc.
2. Management makes a vital , dynamic and life giving force to the enterprise.
3. Management coordinates activities of dissimilar departments in an enterprise and establishes team spirit among the persons.
4. Management provides new ideas and vision to the organization to do better.
5. Management tackles business problems and provides a tool for the best way of doing things.
6. Management only can meet the challenge of change.
7. Management gives stability to the enterprise by changing and modifying the resources in accordance with the changing environment of the society.
8. Management helps personality development thereby raising efficiency and productivity.