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Wednesday, October 26, 2011

Who Needs Management?

          It is a popular misconception that only business firms seeking to make a profit need management. This is not true. Our homes, farms, unions, churches, hospitals, charitable organizations, colleges and trade schools, and - yes - even our governments need management. All these organized units of society need to apply management principles to achieve their goals in the best manner.
          Management principles are important in all human activities. We've seen that profit-motivated business firms must be efficient and produce profits in order to survive. For that reason, such firms pay the greatest attention to good management. But all other organizations need management, too. In political organizations, health services, and athletic contest - as well as in business - good management coordinates the best use of human, natural, and capital resources. (Even students will find that applying management principles will increase their efficiency and "profit.")

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