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Q1: in A Short Essay, Briefly Discuss The Importance of Studying Management? Answer: Introduction

This document contains answers to three questions about management. 1. It discusses the importance of studying management, citing the universality of management in all organizations, the reality that one will either manage or be managed in their career, and the rewards and challenges of being a manager. 2. It defines an organization as where two or more people work together towards common goals, and explains that managers are important for their skills and abilities to deal with challenges, to get work done, and their impact on organizational success factors like profitability and engagement. 3. It defines efficiency as getting the most output with the least resources, and effectiveness as doing the right work to achieve goals, concluding that effectiveness should be the higher

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Imran Shahzad
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349 views3 pages

Q1: in A Short Essay, Briefly Discuss The Importance of Studying Management? Answer: Introduction

This document contains answers to three questions about management. 1. It discusses the importance of studying management, citing the universality of management in all organizations, the reality that one will either manage or be managed in their career, and the rewards and challenges of being a manager. 2. It defines an organization as where two or more people work together towards common goals, and explains that managers are important for their skills and abilities to deal with challenges, to get work done, and their impact on organizational success factors like profitability and engagement. 3. It defines efficiency as getting the most output with the least resources, and effectiveness as doing the right work to achieve goals, concluding that effectiveness should be the higher

Uploaded by

Imran Shahzad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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FIRST ASSIGNMENT

Q1: In a short essay, briefly discuss the importance of studying management?


Answer: Introduction:
Students may be wondering that why it is important to study management. There are
several reasons to explain the importance of studying management i.e. “The Universality of Man-
agement, The Reality of Work and The Rewards and Challenges of Being a Manager”.

The Universality of Management:


The Reality that management is needed in all types and sizes of organizations, at all organizational
levels, in all organizational areas, and in organizations no matter where located is called Univer-
sality of Management.

In all organizations, managers must plan, organize, lead, and control. Management is universally
needed in all organizations. Organizations that are well managed develop a loyal customer base,
grow, and prosper, even during challenging times. Those that are poorly managed find them-
selves losing customers and revenues. By studying management, you’ll be able to recognize poor
management and work to get it corrected.

The Reality of Work:


Second most important reason to study management is the Reality of Work. When a Student
finishes his college he either has to manage the organization or has to be managed in an organi-
zation. If a student has some knowledge and skills of management then he can work like a man-
ager or under the manager, if he does not know the management skills he stills have some man-
agerial responsibilities even if you’re not a manager. The basic point is that one don’t have to be
a manager to get basic knowledge of management.

Rewards and Challenges of Being a Manager:


At last there are some rewards and challenges of being a manager. First, there are Challenges of
manager. Managers have the hard work in the organization instead of clerks in the organization.

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FIRST ASSIGNMENT

Moreover, they have a variety of personalities, sometimes they have limited resources to do
work, they motivate worker in panic and uncertain situations and the overall performance of
organization depends on others’ workers performance. The Rewards of being a manager is that
they create a work environment in which employees can work with their best ability and have
opportunities to think creatively and use imagination, Support and nurture others, managers
have status in organization, they receive bonuses raise in their salaries and at last good managers
are needed by organization they are the foundation of organization.

Q2: What is an organization? Why are managers important to an organization’s success?


Answer: Organization:
Where two or more than two people work together to achieve a common goal or prede-
termined goal is called an organization.

Introduction:
If managers have good qualities then the employees are lucky because these managers can make
work more enjoyable and productive. There are three reasons to see why managers are im-
portant.

Organizations need their managerial skills and abilities:


Organizations need manager’s “managerial skills and abilities” more than ever in uncertain, com-
plex, and chaotic times. As organizations deal with today’s challenges changing workforce dy-
namics, the worldwide economic climate, changing technology, ever-increasing globalization,
and so forth—managers play an important role in identifying critical issues and crafting re-
sponses. In the backstage, you’d find a team of managers who scrutinize ideas and focus on the
question: Is there a “sustainable market?” These managers realize what is critical to success. The
opposite “types” have worked together and created a successful business.

They’re critical to getting things done:


Another reason why managers are important to organizations is because they’re “critical to get-
ting things done.” If work isn’t getting done or isn’t getting done as it should be, they’re the ones
who find out why and get things back on track. And these managers are key players in leading
the company into the future.

Managers do matter to organization:


Finally, “Managers do matter to organizations.” According to a recent survey Companies that hire
managers based on talent realize a 48 percent increase in profitability, a 22 percent increase in
productivity, a 30 percent increase in employee engagement scores, a 17 percent increase in
customer engagement scores, and a 19 percent decrease in turnover. Considering another study
found that leadership is the single largest influence on employee engagement.

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FIRST ASSIGNMENT

Q3: Define efficiency and effectiveness. If you had to choose between being effective
or being efficient, which one would you say is more important? Why?
Efficiency:
Efficiency refers to getting the most output from the least amount of inputs or resources. Man-
agers deal with scarce resources including people, money, and equipment and want to use those
resources efficiently.

Effectiveness:
Effectiveness is often described as “doing the right things,” that is, doing those work activities
that will result in achieving goals. Besides being efficient.

Which one is more important?


If we take an example of Sales rep jobs, they have their daily, weekly, monthly or even quarterly
goals. Now let’s assume that daily goal is to make 70 calls a day and someone made it to 70 calls
to even somebody make 80 or 90 calls that pretty efficient, but if we drop down these 80 or 90
calls how many of these calls lead to connects, how many connects lead to demos and how many
demos lead to deals. That’s where effectiveness comes in if sales reps took the responsibility and
work effectively and calls less and to authentic customers they might even get all deals of all the
calls. At last I think that effectiveness should be the main priority of the organization then after
that efficiency plays it part.

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