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Free solved answer of smu mba assignment MBA101 Q1. Explain the Definition and Importance of ‘management’.

Answer:
Definition of Management: According to Harold Koontz, “Management is an art of getting things done through and with people in formally organised groups. It is an art of creating an environment in which people can perform as individuals and can co-operate towards the attainment of group goals”. According to F.W. Taylor, “Management is an art of knowing what to do, when to do, and see that it is done in the best and cheapest way”.

Importance of Management: Management is important because of the following reasons:

  1. It helps in achieving group goals – GreenPath Hotels was on expansion and to create the capacity for service, they had hired more people and were training them in one place so that when the new hotels are opened, these trained men can go there and be productive from day one. This is about achieving the goals set, i.e., smooth expansion.
  2. Optimum utilisation of resources – GreenPath could have avoided hiring these people in advance and thus saved money but then if they had hired them late, these resources would not have been ready to render the service and would probably have earned a bad name in those initially. So there is a trade-off between maintaining the brand name and the service quality and hiring in advance and bearing the cost. The overstaffing was therefore deliberate and planned and not the result of a haphazard planning. This is optimisation of resources.
  3. Reduces costs – It gets maximum results by using minimum input through proper planning. You saw how Green Path uses physical, human, and financial resources in such a manner that it creates great results at low costs. Management is about cost reduction. You can see how the physical resources, the flute playing blind man, the foot massage, and the people are judiciously combined to create happiness to the hotel guests (in hotel parlance we call the customers as guests). These reduced the cost of building expensive rooms to create the ambience, hiring expensive hotel school graduates to serve the guests, etc.
  4. Establishes sound organisation – No overlapping of efforts (smooth and coordinated functions) is an important lesson from the case. You saw how the service staff moved around with calmness and rendered the service smoothly which avoided all duplication of effort and perhaps how they covered each other’s deficiency in service through teamwork.
  5. Establishes equilibrium – It enables the organisation to survive in a changing environment. Green Path was able to see the new era coming with its focus on environment and social responsibility. It keeps in touch with the changing environment. Green Path is an example of how it changes to the demand of market/changing the needs of societies and becomes responsible for growth and survival of organisation. You saw how Green Path is riding the new wave of sensitivity to environment, social responsibility of caring for the blind beggar, etc. This is the new reality that Green Path has been able to capture in its service.
  6. Essentials for prosperity of society – Efficient management leads to better economical production and also increases the economic, social, and general welfare of the people. Good management makes a difficult task easier and more importantly, avoids wastage of scarce resources. It improves the standard of living. You saw how GreenPath uses the local men and woman and creates prosperity to the village folks. 
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