Answer to Question #43267 in Management for Abdelaali

Question #43267
"Management is undoubtedly one of humankind's most important inventions." Do you agree with this statement? Why or why not?
Expert's answer
In our modern world, where almost every day there are many different companies competitors on the way to succeed it is necessary to keep up with the times. The role of management is high enough as it is to ensure the stable operation of company's process management. Every organization that wants to thrive, needs skilled managers. Every company needs a person who will manage all the chores, and will advance to a new level and make it much more successful. The role of management is formed of three main components: social effect, economic effect and summarizing the socio-economic effect. Social effect is responsible for quality working conditions, reduction of occupational diseases, which implies saving of financial resources, as well as lower costs for payment of certain social guarantees. Economic effect regulates value form, and allows to monitor growth of direct variation, decrease production costs, increase profits, etc. Socio-economic effect describes the result of activities by using economic indicators: gradual increase of volumes, cost reductions in the cost and general expenses of the organization, production stability, profit growth, the stability of the enterprise market. Successful use of the resources
of an organization can be either increased or decreased, using a variety of techniques and methods, and selecting those that can best fit to a particular company.

The main purpose of any business and the creation of any company is to lead it to the pinnacle of success, to gain a foothold there and give it the opportunity to face the future, seeing new prospects. The essence of business is the continuous improvement of the system itself, its strategy and tactics in the struggle for a place in the market, in pursuit of excellence. Capital
increase, profit and development business, hope for the future - these are the components, without which the business is impossible. So it can not exist without talented managers who can lead people and realize plans. The role of management, as well as the control system can not be underestimated, because good management and effective control system differ by increase organizational performance, optimization of human, financial and material costs for the production and lead the company to achieve its main goal - profit.

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