Objectives of Management Practices | MITSDE - PowerPoint PPT Presentation

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Objectives of Management Practices | MITSDE

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Management is an art of getting things done by the people, for the people and with the people. Just as the brain coordinates and regulates all the activities of a person, management streamlines and regulates the activities within an organisation. MIT School of Distance Education is one of the largest autonomous institutes in India for Distance MBA equivalent courses. MITSDE, Pune offers Distance Learning Courses in Management, Correspondence MBA Equivalent Courses and Post Graduate Diploma Courses in few skill development Programs. – PowerPoint PPT presentation

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Title: Objectives of Management Practices | MITSDE


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Objectives of Management Practices
  • https//www.mitsde.com

https//www.mitsde.com
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Objectives of Management Practices
Management is an art of getting things done by
the people, for the people and with the
people. Just as the brain coordinates and
regulates all the activities of a person,
management streamlines and regulates the
activities within an organization. In fact, it is
the effective management that guides, directs and
integrates human efforts towards the achievement
of certain organization goals. Thus, management
is the dynamic element that gives life to every
business. Many enterprises follow different
management practices as a part of their core
operations.
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Objectives of Management Practices
  • There are various objectives of enforcing
    management practices in an organization. The
    major motives are stated below
  • 1. Profitability
  • It is imperative for an enterprise to
    continuously earn profits for a successful and
    uninterrupted run. Different management practices
    ensure that the enterprise earns sufficient
    profits to cater to its diverse needs. The
    management practices emphasize on optimum
    utilization of manpower, capital, materials,
    machinery and other resources thereby ensuring a
    maximum output at minimum cost.

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  • 2. Prosperity and growth of business 
  • Management practices aim at continuously
    improving the performance of the organization.
    These aim at expansion and diversification of
    business thereby creating an environment where
    people are motivated to work with their optimum
    level of productivity.
  • 3.  Change and innovation
  • A business operates in an ever-changing
    environment. In this age of digital evolution,
    research and development are necessary to develop
    novel and better methods. So, in order to cope up
    with the challenges posed by the uncertainties of
    future, effective management practices come as
    handy. These aim at technological advancements
    and adoptions of innovative ideas that keep the
    business abreast amidst competition.

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  • 4. Skill development of employees
  •   For any organization, manpower is the biggest
    asset. It is more important than the materials or
    any other resources. Thus, it is important to
    value and enhance the employees skills. Various
    management practices aim at mobilizing the best
    talent. These facilitate proper training and
    skill development of each and every employee. In
    this way, they act as a catalyst in the overall
    development of manpower.
  • 5. Discipline and morale
  • Management practices aim at improving
    discipline within an organization as these
    include exercising authority, assigning
    responsibility and introducing procedures of
    evaluation and control. The practices emphasize
    motivating the employees through financial and
    non-financial incentives.  These instill a sense
    of achievement in the employees and it also
    raises the morale of the employee by creating and
    maintaining a sound work environment.

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  • 6.  Rightful decision making
  • Decision-making is an essential part of
    management. The managers have to take several
    decisions on a day-to-day basis. The quality of
    decisions determines the future of the
    enterprise. Effective management facilitates in
    making the right decisions at the right time.
  • 7. Improving image of the organization
  • The management practices create a better
    workplace and allow the organization to operate
    more professionally. Thus, it attempts to build
    and maintain a sound image of the organization.
  • 8. Minimizing the element of risk
  • Businesses operate in an uncertain
    environment and face several types of risks.
    Various management practices facilitate risk
    estimation and prediction of future events so
    that the organizations prepare themselves to face
    unexpected events.

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Conclusion
  • The aforementioned points depict the significance
    of incorporating management practices in an
    organization.
  • Many organizations are realizing the importance
    of these practices and so they are seeking for
    expert manager who can impose the management
    practices effectively.
  • Thus, you need to be equipped with deep industry
    knowledge and managerial skills in order to be
    considered for the position.
  • In such a scenario, an industry-specific course
    like MIT-SDEs PGDM and PGDBA courses can brush
    your managerial skills and act as a catalyst in
    your career path.
  • MITSDE Pune is among the best Distance MBA
    Colleges with its innovative educational approach
    and extensive online student support. Which
    provides Distance Learning Courses in Management,
    Correspondence MBA Equivalent Courses and Post
    Graduate Diploma Courses in few skill development
    Programs.

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THANK YOU !!
Website https//www.mitsde.com Toll-Free No.
9112- 207 - 207
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