Management

Management is about planning and organizing. It mainly focuses on three basic elements; money, machine and man. The main purpose of management is to utilize all the available resources at optimum level to get maximum output, thus improving the financial resources of a firm. This concept is not restricted to planning and organizing, but controlling the entire organization in a systematic way as well. How man power should be utilized productively? This and many other questions are well justified in management science.

Advance courses also include the study of human behavior. Different theories and concepts explain   how a suitable balance can be maintained between the amount invested in the business and how much labor should be employed to form a perfect combination. With this much to learn, one must join management training online.

At Studentlance, online management tutors provide all the homework and assignment help you need. Management students are required to understand each concept well to meet the objectives set by organizations. They should prepare themselves well to be part of a devoted taskforce. At the end of the program you will not only learn to manage money but time management as well. 

Importance of management:

  • Management study helps take actions in time.

 

  • Management helps predicting the future of an organization.

 

  • Management tracks the overall progress and effectiveness of the labor.

 

  • It helps utilize all the factors of production i.e. land, labor, capital and organization. And how these factors should be utilized to maximize profit and output.

Different fields of management:

Financial management: Managing finance effectively is called financial management. This can be made possible by using economics management. This help predicting the future trends and safe investment opportunities. The idea is to keep the cash flow constant without compromising the output level.

Human Resource Management: Human resource management deals with day to day activities of the employees within an organization. Keeping employee records, staffing, hiring employees, etc are the main responsibilities of an HR manager.

Industrial management: As the names suggest industrial management focuses on how a consistent growth level can be maintained by utilizing labor force.

Project management: It is about planning the project and lead it in the right direction. Project management looks into a certain project and whether it would be beneficial or not. The next phase is implementing the plan, while carefully spending all the available financial resources.

 

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