Management is the act of controlling a business organization. The managing director serves as the overall boss of an organization, laying down all general lines of policy, and hiring and firing assistant managerial staff to carry out the decisions.
NEEDS FOR EFFECTIVE MANAGEMENT
- To raise the standard of living and improve the condition of the people.
- To increase production activities that will meet up with the demands of the people in the society.
- To reduce waste of human and material resources in production of private and public goods.
- To increase the turnover and profit an individual, organization and nation at large.
- To raise the national income of a country.
BENEFITS FOR EFFECTIVE MANAGEMENT
- Effective management remotes economic growth and development in the society.
- It reduces unemployment and assist in eradicating poverty among the people in the society.
- It helps the society and organizations to achieve their goals for maximum benefits.
- It promotes effective use of human and material rsources for human capital development in the society
- It removes the fear of domination, crisis, cheating, and intimidation on the part of the people.
- List four needs for effective management.
- State and explain five benefits of effective management