Business Studies

Nature and Significance of Management

Question:

Co-ordination is the essence of management. Do you agree? Give reasons.

Answer:

Co-ordination plays a vital role as it binds all the other functions of management. It is the common thread of all activities such as purchase, production, sales etc that runs through. Some of the basic features are as follows
(i) Integrates Group Efforts Co-ordination brings unity to all. It gives a common focus to group efforts.
(ii) Ensures Unity of Actions It acts as a binding force between departments and ensures that all action is aimed at achieving the goals of the organisation.
(iii) It is a Continuous Process Co-ordination is not a one time function but a continuous process. It begins at the planning stage and continues till controlling.
(iv) It is an All Pervasive Function Co-ordination is required at all levels of management due to the interdependent nature of activities of various departments. It integrates the efforts of different departments and different levels.
(v) It is the Responsibility of All Managers All managers need to co-ordinate something or the other. A manager of production department needs to co-ordinate the work within his department and also with the other departments at the same time.
(vi) It is a Deliberate Function Whatever the managers are doing in an organisation they are doing it knowingly. Co-ordination is one of the most important functions of all managers. Thus co-ordination is also done deliberately. Whatever the managers do, they do it deliberately to achieved the predetermined goals and objectives.
Thus, we can say co-ordination is the essence of managment after analysing these points.

previuos
next

Nature and Significance of Management

Q 1.

Name any two important characteristics of management.

Q 2.

Ritu is the manager of the Northern division of a large corporate house. At what level does she work in the organisation? What are her basic functions?

Q 3.

Why is management considered a multi-faceted concept?

Q 4.

“A successful enterprise has to achieve its goals effectively and efficiently” Explain.

Q 5.

Define management.

Q 6.

Management is a series of continuous inter-related functions. Comment.

Q 7.

Co-ordination is the essence of management. Do you agree? Give reasons.

Q 8.

Management is considered to be both an art and science. Explain.

Q 9.

Discuss the basic features of management as a profession.

Q 10.

Do you think management has the characteristics of a full fledged profession?