Wk 1 DQ1 - What is management? Why is management necessary?...

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What is management? Why is management necessary? How do you think management has evolved? Answer Management is the process of planning, organizing, staffing, directing, co-ordination, reporting and functioning with the purpose of achieving the goals of the organization and ensuring the implementation of several functions for the purpose of carrying out the activities of the organization. Management is extremely important as it helps in effective and efficient conducting of business as it helps organize resources and make maximum utilization of the limited resources. In this way it helps improve the profitability of a business as well as helps improve the market position and competitiveness of a firm. Management evolved mainly through industrial revolution. The industrial revolution of the 18th century, where in production was revolutionized in America and several other western countries led to sustained economic growth having become possible. The Toyota Production system, assembly line production and several other
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Wk 1 DQ1 - What is management? Why is management necessary?...

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