Explain any Five Points of Importance of Management.

By Ruchika|Updated : October 4th, 2022

The five points of importance of management are Achieving organisation goals, Achieving individual goals, Creating a dynamic environment, Developing Society, and Improving Efficiency. Management refers to the process of performing tasks efficiently and effectively while achieving personal and organizational goals.

It is an important process on which the organization depends to achieve its goals and perform its functions. Management is important and essential for the smooth functioning of any organization. Five points of importance of management are given below.

Importance of Management

Management has various functions in an organisation. Without it, success cannot be achieved. The five points of importance of management are provided below.

  1. Achieving organisation goals - Management plays a vital role in achieving organizational goals by aligning resources and providing guidance on all matters. Managers play an important role in the idea of strategies that help organizations achieve their goals.
  2. Achieving individual goals - Management is also responsible for helping individuals achieve their personal goals. They ensure that every individual in the organization is satisfied with their growth and development. There is a direct proportionality relationship between achieving individual and organizational goals.
  3. Creating a dynamic environment - Management also plays a vital role in ensuring that the organization does not stagnate and stays up to date with the latest trends in the industry. They ensure that the organization is able to change with the changing times.
  4. Developing Society - As management is responsible for the development of an organization, they also help in the development of society. Every organization has a social responsibility that they are able to fulfill in a better way even if they achieve their own goals.
  5. Improving Efficiency - Management involves an array of functions like planning, controlling, directing, and organising which helps improve the efficiency of the organisation.

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FAQs on Importance of Management

  • The five points of importance of management include increasing efficiency, creating a dynamic environment, developing society and achieving organizational as well as individual goals.

  • Management is important for several reasons. The 5 reasons for the importance of management include creating a dynamic environment, achieving organizational goals, developing society, increasing efficiency and achieving individual goals.

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