Objectives of Management

Objectives of Management are as follows:

1) Organization development 

The primary objective of an organization is organizational growth and development. 

For development of an organization, it requires planning, organizing, direction and efficient control. 

One needs to consider for organization development all the functions of the management keep follow and properly implement.

2) Best utilization of scarce resources

One of the most important objectives of management is to utilize scarce resources of the business efficiently and economically. 

Businesses should use all the resources such as Men, Money, Machines and Materials in a way to earn maximum profit at minimum cost and also to satisfy the interest of customers, suppliers, employees etc. 

3) Utilization of skilled labor 

If the manager of the organization assigns the right position to the right person then this process of employment brings a higher degree of efficiency and boosts curiosity in employees to better perform their task.

 

4) Division of work 

In the point of division of work, breaking down jobs into various forms in order to assign the right job to the right person to increase higher efficiency among employees. 

Division of work is also known as division of labor enables an organization to achieve their target effectively.

5) Coordination in the organization 

Coordination in the organization aims to ensure cordial and healthy relationships among various departments, employees and within human resources so as to maximize profit and utilize scarce resources in the best possible manner within the organization. 

6) Quality of goods and services 

This is the most important objective of every business to produce or manufacture the best quality product at a very low cost. 

Quality of goods and services attracts the potential consumer and management can easily purchase the loyalty of customers. 

7) Promotes research and development

 To overcome uncertainties and future risk with its competitors, management undertakes the research and development to ascertain the policies of competitors and also to ascertain the potential consumer of the organization. 

8) Minimizes risk 

Management forecasts and predict the future but the exact future is difficult to predict. But one can find solutions to solve future problems through past experience and circumstances. 

9) Better performance 

Businesses aim to achieve targets by enhancing performance of employees in the organization. 

A manager should create a healthy environment and communication in the organization so no one hesitates to convey their message to the management. 

This will improve the performance of each and every factor of production through better communication and coordination.

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