There is little doubt that whatever development has taken place in any field in the world today; it is due efficient management and leadership skills. Managers influence all the phases of modern organizations. While sales managers maintain a sales force that markets goods and services; human resource managers provide organizations with a talented, competent and productive workforce; and plant managers run manufacturing operations that produce different things like the clothes we wear, the food we eat, and automobiles we drive. Managers guide organizations to improve and excel in their mission to achieve new goals. An organization achieves competitive advantage and a new brand name when its different segments are managed efficiently and properly. That is why; we can see developed countries are having effective management systems to deal with their different affairs for all round growth and development. As such, leadership and management serve different yet essential functions in an organization. In this competitive business world, organizations invariably need superb management for their development and progress. Let us have a cursory glance at certain points to underscore the significance of management in an organization.
The most important role of management is to arrange the factors of production, assemble and organize the resources, and integrate the resources in effective way to achieve desired goals. It is obvious that defining objectives of organization clearly, there would be no wastage of time, money and effort. It is the responsibility of the management to coordinate, direct and control in such a manner that enterprises work towards attainment of goals.
It is the responsibility of the management to utilize all the physical and human resources in a productive way. It ensures maximum utilization of scarce resources by selecting its best possible alternate use in industry. Management knows how to make use of skills, knowledge and experience gained over a period of time by the experts and professionals in the organization.
Management also encourages initiative and innovation. Initiative gives satisfaction to employees and success to an organization whereas innovation brings in new ideas, new technology, new methods, new products and new services. This makes the organization more competitive and efficient. As such, management strives to encourage individual activity that will lead to realization of organizational goals.
Management motivates employees through various incentives. Through better relationship between various level of management, team success can easily be attained. In turn, it creates scope for higher efficiency and growth.
Reduction in overall cost is the main concern of the management. It can achieve maximum out through minimum input by proper planning and by using minimum resources. For this management uses physical, human and financial resources in such a manger which results in best combination. Finally, it leads to reduction in the cost.
However, the most important role of management is to identify, nurture, and groom employees who would ultimately become future business leaders of the organization. But, most of the managers forget this crucial role and only concentrate on running day to day business and are more concerned with increasing profitability for the organization. In this regard, investment in change management training to create leaders with more tools in their managerial and leadership kit; goes a long way in improving the quality of the experience many have when going through change in the workplace. Nevertheless, good change management training should ensure that trainees should develop a comprehensive understanding of change management strategy for smooth transition; they should be aware of the principles of successful change programs; have knowledge of models of change management, coaching skills for use in the workplace, increased self awareness to cope and deal with change so and so forth. It has long been recognized that the provision of coaching for managers in organizations is highly beneficial both for the management and organization. Good training and coaching for managers is essential. In this regard, change management coaching is found to be the best option to ensure a smooth and effortless handling of the events generally witnessed at the time of organizational change, business review and continuity.