Importance of Management

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What is Management?
Management is the organization and coordination of the activities of a business in order to achieve definite objectives.
Management is often included as a factor of production along with machines, materials, and money. According to the management guru Peter Drucker (1909-2005), the basic task of management includes both marketing and innovation. Practice of modern management originates from the 16th century study of low-efficiency and failures of certain enterprises, conducted by the English statesman Sir Thomas More (1478-1535). Management consists of the interlocking functions of creating corporate policy and organizing, planning, controlling, and directing an organization 's resources in order to achieve the
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Management is equally important at the national level. It is an agent of change and economic growth. The prosperity, power and prestige of a nation depend upon the competence and dedication of its managers and administrators.
President Roosevelt of U.S.A. once said: "a government without good management is a house built on sand." Management makes a significant social contribution by supplying goods and services, employment, tax revenue, etc.
According to Ureic and Breach, "no ideology, no 'ism ', no political theory can win a greater output with less effort from a given complex of human and material resources except sound management. And it is on such greater output that a higher standard of life, more leisure, more amenities for all must necessarily be founded." Management is an important organ of an industrial society.
In a developing country like Nigeria , the significance of management can hardly be over emphasized. Higher efficiency and higher productivity is the only hope of the people, more than 60 per cent of whom are living below the poverty line.
A welfare state cannot realize its twin objectives of economic growth and social justice without a well-organized management system. The root cause of Nigeria 's backwardness lies in the underutilization and mystification of the country 's resources.
The most important reason for the poor performance of our
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