MONEY MATTERS

Management is very important in any business, as it enables a business to attain its goal in the most efficient manner. It prepares the employees to adopt a systematic approach towards their work. For all businesses, men, money, machines and materials are very important. It is the management that makes it possible to utilise these resources effectively.

Planning

Planning is an important function of management; this provides a systematic approach to work. Planning helps to fix responsibilities on individuals and departments, it helps to avoid delay and last minute rush.

Organising

Every business needs men, machines, materials and money. The extent to which these resources are required and the proportion in which these are to be combined are taken care of by organising.

Division of work

Management recognises the need for division of work in any work place. The total work to be done is divided into different parts and each part is entrusted with a particular individual. By doing so the particular individual becomes an expert in what he does.

Selection of right man to the right job

Management gives utmost importance to the selection of the right person to the right job. The staffing function of the management takes care of the issues concerning the recruitment and selection of employees.

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