Question

Why management has become more important in modern times?

Answer 1

Management has become more important in modern times due to the following reasons:

1. Increasing Size and Complexity of Organisations: Businesses today are large and complex and operate in global markets. Efficient management is required to handle these complexities.
2. Technological Advancements: With rapid changes in technology, management plays a crucial role in adopting new techniques and staying competitive.
3. Globalisation and Competition: In a highly competitive world, businesses need good management to survive and grow in the global market.
4. Growing Workforce: Managing a large and diverse workforce requires effective management practices for smooth operations.
5. Achievement of Organisational Goals: Management helps in planning, coordinating, and controlling activities to achieve business objectives efficiently.