Answered Essay: write 3-4 paragraphs In your own words explain the importance of management. Name a few

write 3-4 paragraphs In your own words explain the importance of management. Name a few essential managerial skills.

Expert Answer

Management: Management is a universal phenomenon and it applies everywhere. It is the requirement of every kind of set up or organization. It is required in corporate, politics, families, function and events. Everything either running with the management or it require a proper management to function.

If I quote F.W. Taylor, he defined management as “Management is an art of knowing what to do, when to do and see that it is done in the best and cheapest way”.

So it is an art in nature and scientific in approach to deal everything in right way and to achieve maximum out of it.

Importance of Management:

Management is required in every sphere of the life: Following are the importance of management (thug it has tremendous importance but I can sum up a few here):

  1. It provide a scientific and well calculated approach to everything which include proper planning and execution phase for any task.
  2. It encourage a team work approach towards a common goal and objective
  3. It brings out leadership quality out of every individual
  4. It encourage and promote the habit of taking initiative fearlessly
  5. It promotes creative and innovative way of doing things
  6. It promotes constant improvement to the way with which works are to be done.
  7. It ensure the proper utilization of present resources to the maximum
  8. It ensure employee safety and their needs
  9. It ensure organizational hygiene.
  10. It promotes the sense of safety and various rules to safeguards the workplace environment
  11. It looks proper compensation for the employees and hence motivates them for work
  12. It helps in achieving organizational goals at the one end ensure well fare and safety for the employee at the other end.
  13. It helps in keeping everything organized, well-paced, functional, without dispute, under law and gives the concept of unity in order to achieve a common goal.

Following are the few essential managerial skills:

 

  1. Decision making skills: A manager has to take a lot of decision which depends on various factor, so in order to come out with a best decision out of many alternatives available is an art, so a Manger should have Best decision making skills.
  1. Leadership Quality: It is an important task of a manager to be a leader who can lead his team towards a common goal and at the same time become successful in motivating them. So a leadership quality is a core skill a manager should have.
  1. Risk taking abilities: A manager should not fear if it comes to taking a risk. It is often a bold decision to move forward with something with speculation but a true manager or leader don’t hesitate in taking a risk.
  1. Conflict management art: A manager should have best art of conflict resolution so that he can work as a negotiator if any dispute arises within the team.
  1. Time management: An effective manager should must know the importance of time so that he can guide his or her team towards meeting the deadlines.
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