It helps in Achieving Group Goals
All resources are coordinated, directed and controlled in such a manner that enterprise work towards attainment of goals.
Optimum Utilization Of Resources
Management utilizes all the physical & human resources productively.
Reduces Costs
Management uses physical, human and financial resources in such a manner which results in best combination. This helps in cost reduction.
Establishes Sound Organization
Sound organizational structure is one of the objective of management which is in tune with objective of organization and for fulfillment of this, it establishes effective authority & responsibility relationship i.e. who is accountable to whom, who can give instructions to whom, who are superious and who are subordinates.
Establishes Equilibrium
It enables the organization to survive in changing environment.
Essentials for prosperity of society
Efficient management leads to better economical production which helps in turn to increase the welfare of people.
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