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The Importance of Management and Marketing within Business Organization and the Impact of Technology - Essay Example

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This research is being carried out to evaluate and present the importance of Management and marketing within the business organization. The researcher aims to pay special attention to the future with technology and the use of technology in management and marketing today…
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The Importance of Management and Marketing within Business Organization and the Impact of Technology
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Download file to see previous pages This research will begin with the statement that it is difficult to define management in few words because of the complex parameters involved in the management process. In simple terms, management is the process of dealing or controlling things or people. One of the most common function of management is getting things done through others. “According to Henri Fayol, "To manage is to forecast and to plan, to organise, to command, to coordinate and to control” whereas Peter Drucker, defined Management as a multi-purpose organ that manages business and manages managers and manages workers and work". From the above definitions, it is evident that management is highly complex term which has got multi-dimensions. On the other hand, marketing is a process of informing the customers about the value or utility of a product or service, and to encourage the customers to purchase it. “It is defined as the process of determining the needs and wants of consumers and being able to deliver products that satisfy those needs and wants. Marketing includes all of the activities necessary to move a product from the producer to the consumer”. Management is a process which helps to achieve; group goals, Optimum Utilization of Resources, reduction of costs. It is a process which establishes sound organization and equilibrium. Moreover, it helps the society to achieve prosperity. Man, material, machine, and money are the four most important resources of an organization. Management is the process, which helps the coordination of all these organizational resources. For example, finance department is responsible for the management of money in an organization. Same way, human resource department look after the manpower resources whereas engineering or production department look after the machineries and materials. Even though different departments are controlling the organizational resources, it is the process of management, which helps them to utilize these resources judiciously so that the organization benefits from these resources. Many people have the illusion that management is a function restricted only to the executives of an organization. In fact, Management is a function usually undertaken by people of all calibre. For example, a housekeeper is responsible for managing the resources of a house properly whereas a construction worker is responsible for managing the works assigned to him. A housewife manages the education of her children while her husband manages other family matters. In short, management is a function which can be seen everywhere. It is impossible for this world to move a step forward without management of different kinds. All organizations depend upon group efforts. Group action and joint efforts have become necessary in every walk of life. Management is required wherever two or more people work together to achieve com­mon objectives. The success in group efforts depends upon mutual cooperation among the members of the group. Management creates teamwork and coordination among specialized efforts. Management is indispensable in all organizations whether a business firm, a govern­ment, a hospital, a college, a club, etc. Management is a creative force which helps in the optimum utilization of resources. No two individuals are alike. This is true in the organizational world also. It should be noted that current organizations are heavily globalized so that they forced to employ people from different parts of the world. Diversity helps organizations in many ways. At the same time diversity creates lot of problems also. Coordination of diverse workforce is extremely difficult. Management is the process, which helps human resource managers to coordinate diverse workforce effectively. ...Download file to see next pagesRead More
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