Introduction of management:-

Introduction of management:-

Management is a inseprable  part of a business organisation as it is required in all kinds of organisation whether they are manufacturing or trading.

Management is essential for all organisation big or small , profit or non profit , services or manufacturing.

 so. management is essential as well as inseprable because it help each and every individuals to contribute their best for the success of business.

concept

Management is a goal oriented process which aims at achieving the goals of business by getting the things done in effectively and efficiently manner

• Effectively

In management effectively means to finish or complete the work/task in a given period/time.

•         Example :-  If the manager of a business gives work to the manufacture 1000 units of product with in 10 days.And the manufacturing person is finished their work with in these days then  they are said to be effectively.

            That means they have completed their work effectively.

      

•      Efficiently or efficiency

            

                In management efficiently means to finish or complete the work/task with least wastage of resources. So, that a business is able to reduce the cost of production.

•        Example:-If manager asked to finish  a given task using 5oo kg of material but the manufacturer used 8oo kg of material because of wastage of material during production, then we can say that the manufacturer  are not able to finish their task efficiently or there is no efficiently in the working.

• Conclusion:- The above explained terms are  different but they are interrelated. It is very important for business to be both that is effectively and efficiently because these two aspects are two sides of a same coin.
• Effectiveness is required to finish the work with agiven period and efficiency is required to complete the work with least wastage of resources.