![]() This helps in cost reduction.Įstablishing a Healthy Organization – No overlapping efforts (fluent and coordinated functions). Management uses physical, human and financial resources in such a way as to produce the best combination. Reduce Costs – Get maximum output through minimum input with proper planning and by using minimum input & get maximum output. If employees and machines produce maximum, no resources are used. It makes use of these experts, professionals and services leading to proper use of skills, knowledge and utilization and avoiding waste. Management provides maximum utilization of scarce resources by selecting the best alternative use in the industry from a variety of uses. Optimal Utilization of Resources – Management makes productive use of all physical & human resources. These resources are coordinated, directed and controlled in such a way that the company is working towards achieving the goals. The disorganized become useful enterprise. Management changes human resources, machines, money, etc. ![]() By clearly defining organizational goals there will be no wastage of time, money and energy. ![]() It directs the group's efforts towards the achievement of pre-determined goals. It helps in Achieving Group Goals – It regulates factors of production, collects and organizes resources, integrates resources effectively to achieve goals.
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