Management as the term indicates the act or the procedure of getting the job carried out by others, assisting them in achieving their jobs, objectives, goals etc easily, effectively and proficiently. It consists of numerous sub-processes for instance Planning, Organizing, Controlling, Directing or Leading etc. Organization can be referred to as system and human activity in it could be called as Management. Organizations are a system which can not process smoothly or work efficiently if all the resources included are not handled on the best possible levels. The great importance of management lies in the fact that if its sub-processes are not worked out properly and correctly than the entire system or the process might go out of the way. The sources of the organization should be managed, organized, planned & directed well so that all the resources are structured according to the operating methods of the organizations plus this is feasible by using effective management strategies.
This is certainly the phase where we examine the scenario & create a guideline/method/plan to approach further so that beforehand only we have in depth strategy of executing the whole process.
According to the planning all the resources are structured/outlined/ assigned properly so that you can have the process structured or complete.
It is extremely important that the manager directs the staff by describing the complete plan for performing the complete process. Just in case the manager or the leader is not available to direct or to lead, the whole team is misled and the process objective/goal gets deteriorated.
Now it is essential to monitor the process that is being performed or to control every single scenario to ensure that the process does not move in wrong direction.
The whole process of management is very essential for any type of organization regardless of the field it is in.
If we will manage the organization well, the processes will perform efficiently & effectively, increasingly more revenue would certainly be produced and so is the profitability for the organization. In the same way if all the organizations will manage in the same manner, the revenue will boost day-to-day and the complete economy of the nation will enhance as capital will pool in every moment and there is certainly improvement of the economic solidity of the country. Once the organizations will be successful in every aspects, the total fund flow of the country will increase, so it could be considered that assuming the management is strong, the processes are successful, when the process is profitable, the capital will pool in leading to the success of the whole sector, business and economy as well.