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Management as the term indicates the act or the procedure of getting the job carried out by others, assisting them in achieving their tasks, objectives, goals, etc. quickly, effectively and proficiently. It consists of numerous sub-processes, for instance, Planning, Organizing, Controlling, Directing, Leading, etc. The organization can be referred to as a system, and human activity could be called management. Organizations are a system that can not process smoothly or work efficiently if all the resources included are not handled on the best possible levels. The great importance of management lies in the fact that if its sub-processes are not worked out correctly and adequately, then the entire system or the process might go out of the way. The sources of the organization should be managed, organized, planned & directed well so that all the resources are structured according to the operating methods of the organizations, plus this is feasible by using active management strategies.
The sub-processes/activities of Management
Planning
Planning is undoubtedly the phase where we examine the scenario & create a guideline/method/plan to approach further so that beforehand only we have an in-depth strategy of executing the whole process.
Organizing
According to the planning, all the resources are structured/outlined/appropriately assigned so that you can have the process structured or complete.
Directing/Leading
The manager must direct the staff by describing the complete plan for performing the entire process. Just in case the manager or the leader is not available to address or lead, the whole team is misled, and the process's objective/goal gets deteriorated.
Controlling
Now it is essential to monitor the process that is being performed or to control every scenario to ensure that the process does not move in the wrong direction.
The whole process of management is essential for any organization regardless of its field.
If we manage the organization well, the processes will perform efficiently & effectively, increasingly more revenue would certainly be produced, and so is the profitability for the organization. In the same way, if all the organizations will manage in the same manner, the revenue will boost day-to-day, and the entire economy of the nation will enhance as capital will pool in every moment. There is undoubtedly an improvement in the economic solidity of the country. Once the organizations are successful in every aspect, the total fund flow of the country will increase, so it could be considered that assuming the management is strong, the processes are successful. When the process is profitable, the capital will pool to lead to the success of the whole sector, business, and economy.