Management: Pre-Requisites Of An Effective Control System
1. Explain the concept of Management. Discuss the importance of Management.
Concept of Management: Management is the process of getting activities completed efficiently and effectively with and through other people. The detailed process or a sequence of interdependent and linked procedures that enable creating some output collectively with the concept is defined as the management process.
Importance of Management: Management is the art of getting things done through and with people in formally organised groups. It is an art of creating an environment in which people can perform as individuals and can cooperate in attaining the group goals --- Harold Koontz.
The management is important for the following reasons.
• It helps in achieving the
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What do you mean by Control? Explain the pre-requisites of an effective Control system
Meaning of Controlling:
Control is the last in the management process and is perhaps the most important. In reality, most managers are busy laying down controls and exercising them. Control is the rudder of business because it ensures that a process is going in the right direction by making continuous corrections. Without control, the business will perhaps go to where it should never go and do what it should never do. A business will be able to expand in product portfolio and geography and delegate and outsource only because controls are possible and in fact real time control can be exercised through IT.
Pre-requisites of effective control:
All managers like to have controls because without them their plans would go awry. Let us now study the pre-requisites to have an effective control system.
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