Nature And Significance Of Management

Nature And Significance Of Management INTRODUCTION The above case is an example of a successful organisation which is amongst the top companies in India. It has risen to the top because of its quality of management. Management is required in all kinds of organisations - those manufacturing handlooms, trading in consumer goods or providing hairstyling services and even in non-business organisations. Let us take another example. Smita Rai is a 38 year old entrepreneur who grew up in a rural district called Namchi, South Sikkim. She was very good in art and craft particulary, Wax moulds.She loved to make candles, often she make into toys and small pieces of art with wax and appreciated for these. Smita was never happy with the conditions of the woman in her district as most were poor and jobless, so she planned to do something to solve their problems because she knew that imparting skills for livelihood is needed but she had no idea of how to implement her idea. In august 2012, she met Abishek Lama, the branch Manager of NEDFI, Namchi Branch, a financial corporation which support local people with skills development program and also channelize them into revenue generating activities. Smita got interested. "I love making candles, then, why not convert my hobby into a venture also",she thought. This led to the establishment of Namchi Designer Candles with the help of NEDFI, some financial institutions and support from different stakeholders in various dimensions. Since then, the women have never looked back, despite challenges. The women also faced a lot of harassment but they could overcome all those troubles. Namchi Designer Candles has 100 percent woman as employees and they also produce varieties of candles. During Diwali, they produce customised candles meant for the occasion. These Diwali themed candle has been a success in Sikkim as its demand increase on a yearly basis Namchi Designer Candles has been receiving numerous awards such as North East Women Entrepreneur of the year 2015-2016 for Sikkim and Sreemanta Shankar Mission of Guwahati on 26th April 2018 at New Delhi. A typical day in Smita's life consists of a series of interrelated and continuous functions. She has to plan a special festive collection for diwali. This means organising more funds and recruiting more workers. She also has to regularly communicate with her suppliers to ensure that deadlines regarding delivery of goods are met. In the course of the day, she meets customers for a general feedback and any suggestions that they may have. Smita is managing Namchi Designer Candles. So is the Principal managing your school. They all manage organisations. Schools, hospitals, shops amd large corporations are all organisationa with diverse goals that are aimed at achieving something. No matter what the organisation is or what its goals might be, they all have something in common management and managers. You have observed that Smita's work as manager consists of a series of different activities or functions aimed at achieving the goals of the organisation. These function are part of management. Successful organisation do not achieve their goals by chance but by following a deliberate process called management. Management is essential for all organisation big or small, profit or loss, services or manufacturing. Management is necessary so that individuals make their best contribution towards group objectives. Management consists of a series of interrelated functions that are performed by all managers. Later in this chapter you will understand that although both of them are managers, they function at different levels in the organisation. The time spent by managers in different. Managers at the top level spend more time in planning and organizing than managers at lower levels of the organisation.