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Characteristics Of Management

52 Examples of the Importance of Management

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Management is the practice of directing and controlling an organization. This is a basic function that is required of all organizations. Management uses the resources of an organization to try to achieve that organization's goals. The following are important functions performed by management.
Administration
Benchmarking
Budget Control
Budget Planning
Business Analysis
Business Improvement
Business Optimization
Business Processes
Communication
Compliance
Cost Control / Reduction
Customer Relationships
Decision Making
Delegation
Directing Employees
Efficiency Use of Resources
Employee Feedback
Employee Performance
Estimates
Financial Controls
Forecasting
Goal Setting
Handling Issues
Internal Controls
Investor Relations
Knowledge Development
Knowledge Sharing
Management Accounting
Negotiation
Organization
Organizational Structure
Partner Management
Policy
Problem Solving
Procedures
Procurement
Project Management
Recruiting
Reporting
Resource Utilization
Responsibility & Accountability
Risk Control
Risk Identification
Risk Mitigation
Role Planning
Strategy Planning
Supervising Employees
Team Culture
Training
Work Coordination
Work Productivity
Working Conditions

Importance of Management

In order to use resources efficiently, an organization must be managed. Management is any practice that plans and organizes labor, capital and resources to produce value. As such, management is required for all value production and is the basis for the standard of living and quality of life of a society.

Counterexample

Where management doesn't exist or where it is lacking organizations may have several problems as follows.
Lack of accountability
Unclear roles and responsibilities
Disorganized efforts
Failure to meet commitments
Loss of reputation and trust
Failure to clear issues
Low productivity
Waste of capital and resources
Destruction of value
Financial malfeasance
Decline of organizations
Negligence
Noncompliance with the law
Employee turnover
Customer defections
Inefficient processes
Noncooperation with partners
Noncooperation between employees
Poor capital utilization
Financial instability and decline
Project failures
Organizational failure
Infrastructure failure
Decline of society

Management Importance

This is the complete list of articles we have written about management importance.
Administration
Benchmarking
Budget Control
Budget Planning
Business Analysis
Business Processes
Capital
Communication
Compliance
Decision Making
Delegation
Employee Feedback
Estimates
Financial Controls
Forecasting
Goal Setting
Internal Controls
Negotiation
Organization
Problem Solving
Procurement
Project Management
Quality Of Life
Recruiting
Risk Control
Risk Mitigation
Strategy Planning
Team Culture
Training
Working Conditions
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Management Functions

An overview of management functions with examples.

Management Challenges

An overview of management challenges with examples.

Management Process

An overview of common management processes.

Communications Management

An overview of communications management.

Characteristics Of Management

A list of the basic characteristics of management.

Management Strategy Examples

Strategies that managers use to achieve goals.

Management Expectations

An overview of management expectations with examples.

Management Support

An overview of management support with examples.

Management

A guide to management techniques.

Control

An overview of control with examples.

Process Improvement Examples

An overview of process improvement with examples.

Offices

The common types of office.

Team Management Process

An overview of the team management process with examples.

Performance Management Process

An overview of the performance management process.

Problem Management Process

An overview of the problem management process.

Program Management Process

An overview of the program management process.
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