Evaluation of the Role of Management in Improving Business Performance

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Evaluation of the Role of Management in Improving Business Performance

What Management is

Management relates to the implementation of decisions and actions through means by which individuals set and fulfill an organization's targets through several factors. These elements take into consideration human, technical and financial resources which are reliant upon their respective environment. In other words:

"Management is the effective utilization and harmonization of resources to assist in achieving the defined objectives of an organization to the utmost efficiency." [1]

The Crux of Management

Within any given business, a manager cannot feasibly strive to complete work by themselves.
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By the same token, the importance of strategic planning for an organisation cannot be stressed enough.

The strategic plan acts as a purpose for which the business seizes to exist; it highlights goals and objectives which need to be fulfilled by all the members of staff in order for the business to achieve both its short and long term objectives. This all has a direct impact on the overall performance of an organisation because without a manager planning, there would be utter chaos.

Should any foreseen circumstances occur then contingency plans will come into play in order to keep the business functioning as normally as possible so that it is still generating income.

Organising

The importance of a manager being able to organise in an organisation is colossal. If a manager is unable or poorly organises certain aspects in their organisation, then the performance of the company is placed at dire jeopardy.

Organising resources involves creating the systems and procedures that will best enable the organisation to make optimum use of its resources. Organising is also fundamentally concerned with creating effective structures which can distinguish effective organisation resulting to enhancing business performance and
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