Discuss the importance of Management in the present day world.
Management is a tool for achieving results. It is a disciplene concerned for enhancing human performance. Management implies skilful marshalling of the resources available to achieve goals set, within the constraints of all the resources available.
Human beings are capable of using language to communicate their desires or wants. Any such expressed wants can be met by others. Market is the place where one expresses a want or comes to know about existing or an emerging wants. Economics is the system concerned with production, demand, supply and consumption of human wants. A general term given for things that meet needs of humans is goods, services.
Business is a process of identifying new needs and building a system for developing products and services to satisfy those needs. Identifying new needs for the first time and converting that into a business is called entrepreneurship. Management is the process of supplying those goods and services on regular basis.
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