What is management? Why is management necessary? How do you think management has evolved?

What is management? Why is management necessary? How do you think management has evolved?

Management is the function that organizes the execution of today’s business.

Management is like investment. Managers have resources to invest – their own time and talent as well as human and financial resources. The goal or function of management is to get the best return on those resources by getting things done efficiently. This doesn’t entail being mechanical. With highly skilled and self-motivated knowledge workers, the manager can be very empowering. Where the workforce is less skilled or motivated, the manager may need to monitor output more closely.

The aim of management is to deliver results cost effectively in line with customer expectations and profitably, in the case of commercial organizations. It is not only leaders who can be inspiring. Inspiring leaders move us to change direction while inspiring managers motivate us to work harder.

Today’s management is all about the bottom-line in my opinion. Management in a public company runs with two mantras! First is to increase the EPS (Earning per Share) value and secondly keeping the stockholders happy. If the EPS goes south the lay off happens. If the balance sheet goes red, the board of directors of the respective company changes the management team, starting from CEO.