Objectives of Management Assignment Help
Management means managing different tasks in an organization or in life. A manager is s a person who analyses all the needs and requirements of the business and is the one who plans each and every task and makes certain goals to achieve by planning and implementing different tasks and working in an organization.
Every company or every organization has a need to manage all their daily routine tasks and working to achieve the different goals and objectives of the organization that can help the organization to grow more and more in the industry and in the market. Effective management can lead to the growth of a company in unlimited ways and can help the organization or the company or the business entity to gain more and more profits and help them in a perpetual succession of their businesses. Every business entity or the organization has some goals and the objectives that can help them to achieve the growth perspective of the organization and different other goals. No company or organization can be formed without having certain objectives and goals with them. Every organization id formed for fulfilling and achieving certain goals and objectives. The goals and objectives of the organization can be monetary and can be non-monetary depending upon the type of the organization like whether it is nonprofit organization or a normal organization made for a purpose of making money out of the workings in the market. It is necessary for every organization to define its goals and objectives clearly so all the employees and the management can work effectively to achieve those goals and objective which can help them in their long term and in their long-term survival.
Management of the organization makes different short-term goals and objectives to achieve the long term goals and objectives of an organization. These short-term goals are the objective of the organization that helps them to achieve the big results in the organization which is helpful to get the confidence of the internal and external environment of the organization.
Out of the various objectives of the management ten most important objectives of the management are –
- Better quality of products and services – The first and main objective of the management of any company or the organization is to produce and provide a better quality of goods and service to the organization which can help them to improve the productivity of the organization and helps them to reduce the cost of wastages and default products which will help them to increase the efficiency and the effectiveness of the available resources and helps them to produce quality product and services. The quality of products and service helps the company to fetch the eyes of more and more customers that can help them to increase their sales and their profit share. The growth of any organization or the company is largely dependent upon the products and service the company and the organization provide to their potential customers and satisfy their needs and demand.
- Optimum utilization of resources – It is the foremost objective of the management to take care of the resources that the company or the organization has. The management has the responsibility to see that the organization's resources are being utilized fully or not and in an efficient manner or not. Optimum utilization is necessary to save the cost of the company and helps to achieve fuller utilization of resources. The proper use of human resources, capital resources, labor, equipment’s and machinery collectively help the organization to increase the profit earning capacity of the organization or the company and helps to utilize the given resources effectively and efficiently. If company o the organization is able to achieve profit maximization then they will be able to achieve the confidence and trust of the stakeholders of the company that is investors, shareholders, employees, suppliers, and customers as well.
- Growth and development of the business organization – It is the objective of the management to take care about the growth and the development of the business and to ensure that the company or the business entity is earnings growth and good profits which is helpful for the long-term survival of the business and for the effective and efficient workings of the organization or the business. The development is also necessary for any company and the business to grow the business make the workings and the day to day operations of the businesses more effective. So, this is necessary for the management to take care of the growth of the business and the development of the business employees and its day to day workings.
- Regularity in the supply of goods and services in the market – The supply of products and services are should be regular in markets. If the supply of the product or less or not proper in the market then it tends to lose its potential customers as they would be attracted towards the other products or the other substitutes available in the market. For the growth of the sales in the organization it is necessary for a product to completely capture all the potential customers available the market which can only happen it the supply of the products and services are continuous in the market and no disruption in the products and the services is there from the company or the business entity. Regularity and availability of the products are necessary for the company to gain a good customer base and capture a good market share.
- Promotions of research and development in the market – The company must have the objective to do regular research on the product and service being provided by the company to its customers and always try to make the best product and do research to enhance the product a make necessary changes in the products and the services which can help them to achieve greater sales and greater profit which can only be possible if the customers tend to do regular research in the products and modify them on a regular basis. Development of the product so that the customers can achieve greater satisfaction from the products and service is necessary as it helps the customers satisfaction and customer loyalty which further helps to gain trust and confidence of the customer. Research and development or also necessary for an organization to compete in the market with its competitors and to provide better goods and service to the customer s tan the services and products provided by the competitors in the market so that the company or the organization can gain good market share in the industry and be said as a successful company in the market.
- The best environment of the organization – This should be one of the objectives so that the organization to provide the best environment to the workers and to the employees of the organization so that they can work effectively and efficiently and work with the full dedication and with the full capacity that they have. This factor helps to keep the employees happy and satisfied with the organization and also helps to motivate them in such a manner which can increase their productivity and keep their work-life balance properly so that they can have time for their personal work as well. This should be the objective of the organization so that the workers can work happily and effectively in the organization and can help the organization or the company to achieve their goals and objectives along with their personal goals and objectives. This increases the occupancy rate and helps to reduce the rate of replacement of employees and helps to sustain the talented employees within the organization for a longer time so that the recruitment cost of the company or the organization can also be reduced and the overall cost of the company can be reduced or minimized and efficiency can be increased.
- Discipline and morale – The company should have the objective to maintain the ethical standard in the workings of the organization and they should put examples from the upper level of management so that the middle level management an t the lower level management can take it as an example and do not try to work in an unethical manner and do not try to do any unethical and indiscipline activity within the organization which can hurt the sentiments of people and can lead to the effective management of the organization to a defective one and can lead to generate losses in the organization or the company. Effective implementation of the ethical standard is very necessary as it helps the company build a good image in the market and can help them to gain the confidence and trust of the outer people or the external environment of the organization and to ensure the transparency in the organization and helps to make all the transactions more clearer and remove all the immoral practices like fraud and misrepresentation from the organization or the company and to gain profits and increase market value of the company in the market and in the industry.
- Improving performance – The management of the organization must have the objective to improve the performance of the existing employees and overall workings of the organization. Increasing performance helps the organization to improve its workings and the management must take some steps to improve the existing performance, the management should conduct proper training and developments sessions for the improvement of their employees and they should also be given proper mentoring and motivational sessions so that everyone can improve upon their existing skills and can work effectively as per the needs and desires of the organization and the market demand of the industry because it is easy to get the existing employees trained than hiring new employees and training them. Performance of the organization should be improved so that the company can take the benefit of the fuller utilization of resources and the improved productivity and profitability can be achieved easily when everyone is open to the new and improved ways of working.
- Minimizing the risk factor – Some of the objectives of the organization or the business entity must focus on minimizing the risk of the business entity as with the help of the forecasting techniques one can observe and see the future risk and developments that can take place and become a factor of risk in the organization or for the workings of the organization. This thing helps the company or the business entity to prepare itself in beforehand so that the upcoming changes and the threat can be overcome by the company or the organization and the employees would be aware of the upcoming future hurdles and the upcoming risk that can arise in the organization. Management should keep its eyes and ears open for any threat and risk factor that can arise in the future at any time and provides loss to the business of the company or the organization.
- Future planning of the organization – The management must include the future planning of the organization in their goals and objectives. The management should plan for the next step of the organization after one task is completed and after the one goal or objective is achieved the planning should help them to take care of the future workings and should include the indication of the working environment ad new strategies for the business that can help them to get a good understanding of the requirements of the business and the planning of expansion and growth of the business, its workings, its productivity, and its related activities must be there then only the future planning often organization can be taken place successfully and without any hurdle. All the activities from planning to the execution of the different tasks of the organization should include in the future planning of the company as well only then the perfect future planning can be achieved and the help from the past year plans can be taken to get the more practical idea.
So, these were some of the basic objective of management that every company follows.
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In a broader manner if we see any organization has mostly three types of the objectives in their lifetime to workout and those objectives are –
- Organizational objectives
- Personal objectives
- Social objectives
Organizational objective – The main objective of any organization is to attain maximum profits out of the available human and capital resources with them and we can also say that they want to fulfill the economic objectives of business entity.
- Survival – Every organization has the objective to survive in the market for longer terms as long as possible. So, it is one of the organizational objectives for which each and every organization works and no one wants to get their businesses closed in any case in the market.
- Profit maximization – Every organization has a dream of getting higher and higher profits and funds so that the business and its workings can be expanded and the company can grow more and more. This is the whole and sole objective for which an organization work who is not a non-profit organization. This factor is the most important one while managing the objective of the business entity or an organization.
- Growth – Growth of a business is very necessary as this is the only indicator of the success of a business and the objective of the organization should be framed in such a manner that it should match the growth perspective of a business entity. To maintain the position in the industry growth of a company is very necessary as the company will be only able to analyze its full potential when it will be competing with the others in the market and growing in the same manner. The growth indicators increase in sales quantity, an increase in the number of employees, increasing the production of the products and an increase in the level of the amount invested.
Personal objectives – Organization consists of different types of the people and the objectives who has joined the organization as an investor, as an employee, as a shareholder for satisfying their own needs and getting their own goals fulfilled. The needs of the different individual are always different as it could be the need of getting a good salary and good perks along with that which will fulfill their economic objective to earn their livelihood and earn food and the basic necessary things for them or their family members. Some individual has focused on getting the recognition in front of the other employees of the organizational and they want their work to get recognition in the market and in the organization so that their self-esteem needs can be fulfilled. Some individual has the goals and objective of personal growth in the origination for which they work. They just want to improve their existing skills and knowledge so that they can do their business effectively and efficiently in the future if they want to or this will also be helpful for them to enhance the chances of their growth in the existing working conditions as well. Management has to reconcile personal goals with organizational objectives for harmony in the organization. If these organization goals and the personal objectives are collaborated by the organization so it will give a boost up to the motivation level of the employees of the organizational and will be helpful for them to make themselves happier and they will work more as their workings will help them to achieve something that they want in their personal life as well along with their professional goals.
Social objectives - As a part of society, every organization whether it is business or non-business, has a social obligation to fulfill which is to consistently create economic value for various constituents of society. Every business working in the organization has some or the other objective towards the social environment or towards the society that is required to be fulfilled by the organization. This includes:
- Environmentally friendly methods of production – The use of environmentally friendly methods is necessary as this is the only thing by which the harmful effects of the business can be overcome by the organization itself. The polluters pay principle also says that the person or the business who p[pollutes the environment must be responsible for the harm done by them and they should take the ownership of the harm done and should do the possible work so that the effects of the harm caused can be reduced by the organization in the society. By using renewable resources and environment-friendly practices can help the company to reduce the effect of the harmful workings of the organization.
- Giving employment opportunities to the disadvantaged sections of society – It is the duty of the organization to provide the society with more and more employment opportunities if possible so that the living standard of the company can be improved and more and more people can get jobs and earn their livings. This helps the company to connect to the society as well and they get the support and trust of the society also and it helps to work smoothly in the organization by the society and all the social hurdles are abolished by them only in this way.
- Providing basic amenities like schools and crèches to employees – The organization should work for making the economy strong and they should spend a part of their income in the building of schools and colleges for the students so that more and more students can study and contribute in the development and growth of the economy. The basic facilities provided by the company to the society leaves a greater impact on the society and by this the company can also get the support of government and this will surely help the company to get the trust and confidence of the society and of the government which in return can help the company to earn more and more and to grow more and more.
so, these basic objectives of management can help the organization to work effectively and grow exponentially.