{"id":619,"date":"2020-11-01T01:07:34","date_gmt":"2020-10-31T19:07:34","guid":{"rendered":"https:\/\/agribusinessedu.com\/?p=619"},"modified":"2024-08-03T21:25:13","modified_gmt":"2024-08-03T15:25:13","slug":"importance-of-management-in-agribusiness","status":"publish","type":"post","link":"https:\/\/agribusinessedu.com\/importance-of-management-in-agribusiness\/","title":{"rendered":"Importance of Management in Agribusiness"},"content":{"rendered":"<h3><span style=\"color: #000000;\"><strong>Importance of Management in <a style=\"color: #000000;\" href=\"https:\/\/agribusinessedu.com\/agribusiness-in-bangladesh-a-basic-introduction\/\">Agribusiness<\/a><\/strong><\/span><\/h3>\n<p><span style=\"color: #000000;\">Business and Management is an interrelated term. The importance of Management in Agribusiness is a vital aspect.\u00a0<\/span><\/p>\n<h4><span style=\"color: #000000;\"><strong>Management:\u00a0<\/strong><\/span><\/h4>\n<p><span style=\"color: #000000;\">Whenever one wants to get things done, managing is important. Without management, which is supervised in turn by managers, no company can carry on its operation.<\/span><\/p>\n<p><span style=\"color: #000000;\">It is universal to handle and management is everywhere. To ensure the coordination of individual activities within an organization, management is important. It deals with setting, looking for, and achieving an organization&#8217;s goals. Each and every one of us is a manager and in every facet of human endeavor is found the practice of management-educational institutions, corporations, government or non-governmental organizations, associations, and even mosques and families.<\/span><\/p>\n<ul>\n<li><span style=\"color: #000000;\">Management is having things done by others. Management<\/span><\/li>\n<li><span style=\"color: #000000;\">Management is planning, organization, staffing, guiding, and regulating operations.<\/span><\/li>\n<li><span style=\"color: #000000;\">Management is the method of decision-making between different alternatives.<\/span><\/li>\n<\/ul>\n<p><span style=\"color: #000000;\">Various authors \/authorities have specified management in various ways. Below, some of them are quoted:<\/span><\/p>\n<p><span style=\"color: #000000;\">According to Heinz Weihrich &amp; Harold Koontz, &#8220;Management is the process of creating and sustaining an atmosphere in which individuals successfully achieve chosen goals by working together in groups.&#8221;<\/span><\/p>\n<p><span style=\"color: #000000;\">&#8220;To manage is to forecast and prepare, to coordinate, to command and control,&#8221; according to Henry Fayol.<\/span><\/p>\n<p><span style=\"color: #000000;\">According to Tarry &amp; Franklin, &#8220;Management is a distinct mechanism consisting of planning, coordinating, operating and managing operations carried out through the use of human beings and other tools to evaluate and achieve specified goals.&#8221;<\/span><\/p>\n<p><span style=\"color: #000000;\">Finally, we can conclude that management is a collection of activities (planning, decision-making, coordinating, hiring, leading, and controlling) aimed at the resources of an organization (human, financial, physical, and information) in order to achieve organizational objectives in an effective and efficient way.<\/span><\/p>\n<h4><span style=\"color: #000000;\"><strong>What is management&#8217;s main purpose? <\/strong><\/span><\/h4>\n<p><span style=\"color: #000000;\">Increasing productivity is the main objective of management; this means performance and effectiveness.<\/span><\/p>\n<h4><span style=\"color: #000000;\"><strong>Productivity:<\/strong> <\/span><\/h4>\n<p><span style=\"color: #000000;\">With due regard to quality, it can be defined as the output-input ratio within a time span.<\/span><\/p>\n<h4><span style=\"color: #000000;\"><strong>Effectiveness:<\/strong> <\/span><\/h4>\n<p><span style=\"color: #000000;\">The achievement of goals is effective. (Making the correct choices and implementing them successfully)<\/span><\/p>\n<h4><span style=\"color: #000000;\"><strong>Efficiency:<\/strong><\/span><\/h4>\n<p><span style=\"color: #000000;\"> For the least amount of energy, efficiency is the achievement of the end. (Wisely and in a cost-effective manner utilizing resources).<\/span><\/p>\n<h4><span style=\"color: #000000;\"><strong>Nature and Management Scope:<\/strong><\/span><\/h4>\n<p><span style=\"color: #000000;\">&#8220;Management&#8221; is very detailed as a definition. Without proper management, no organized effort can be effective. As a consequence, in any type of organization, some sort of management is unavoidable. In short, it is possible to state the essence of management as follows:<\/span><\/p>\n<ul>\n<li><span style=\"color: #000000;\">Management as a system consists of planning, organization, staffing, management, and control.<\/span><\/li>\n<li><span style=\"color: #000000;\">Organizational production factors such as manpower, resources, land, facilities, etc. are used efficiently and effectively by management to achieve organizational objectives.<\/span><\/li>\n<li><span style=\"color: #000000;\">Management refers to any type of organization.<\/span><\/li>\n<li><span style=\"color: #000000;\">Management describes a particular group of individuals whose role is to direct other individuals&#8217; efforts and activities towards shared goals.<\/span><\/li>\n<li><span style=\"color: #000000;\">It must pay attention to the fulfillment of the stakeholders&#8217; goals.<\/span><\/li>\n<li><span style=\"color: #000000;\">Management is concerned with performance, thereby indicating efficiency and effectiveness.<\/span><\/li>\n<\/ul>\n<p><span style=\"color: #000000;\">With the incorporation of new insights from various fields of study, management as a term has grown in depth. Economics, sociology, psychology, and so on, for example. The management research has developed into more than just the use of means to accomplish ends; today it includes moral and ethical concerns regarding the choice of the right ends to be sought by the manager.<\/span><\/p>\n<p><span style=\"color: #000000;\">From the management point of view, Harbison and Myers proposed a classic threefold management definition to highlight a broader reach. Management was observed by them as\u2014<\/span><\/p>\n<ol>\n<li><span style=\"color: #000000;\">A resource of the economy<\/span><\/li>\n<li><span style=\"color: #000000;\">A regime of authority<\/span><\/li>\n<li><span style=\"color: #000000;\">A Structure of Class and Status<\/span><\/li>\n<\/ol>\n<h4><span style=\"color: #000000;\"><strong>An economic resource:<\/strong> <\/span><\/h4>\n<p><span style=\"color: #000000;\">Management is one of the factors of development, along with property, labor, and capital, from an economist&#8217;s point of view. If a nation&#8217;s industrialization grows, the need for management becomes greater. A company&#8217;s administrative assets decide its competitiveness and profitability.<\/span><\/p>\n<h4><span style=\"color: #000000;\"><strong>A System of Authority:<\/strong> <\/span><\/h4>\n<p><span style=\"color: #000000;\">Management is a system of authority from an administrator&#8217;s point of view. Historically, leadership first developed an authoritarian ideology. It became paternalistic later on. Modern leadership is nothing but a fusion of four approaches to influence.<\/span><\/p>\n<ul>\n<li><span style=\"color: #000000;\">Totalitarian<\/span><\/li>\n<li><span style=\"color: #000000;\">Paternalistic<\/span><\/li>\n<li><span style=\"color: #000000;\">Consistent strategies and processes.<\/span><\/li>\n<li><span style=\"color: #000000;\">Democratic and participatory approaches.<\/span><\/li>\n<\/ul>\n<h4><span style=\"color: #000000;\"><strong>A Class and Status System:<\/strong> <\/span><\/h4>\n<p><span style=\"color: #000000;\">Management is a class and <a style=\"color: #000000;\" href=\"https:\/\/www.sociologydiscussion.com\/caste-system\/class-and-caste-system-of-society\/2645\">status system<\/a> from a sociologist&#8217;s point of view. In modern society, the rise in the complexity of relationships demands that managers become an elite of the brain and education. Instead of family or political ties, entry into this executive class is increasingly dependent on excellence in education and expertise. Some scholars regard this growth as a &#8220;managerial revolution&#8221;.<\/span><\/p>\n<h4><span style=\"color: #000000;\"><strong>Importance of Studying Management in <a style=\"color: #000000;\" href=\"https:\/\/agribusinessedu.com\/agribusiness-in-bangladesh-a-basic-introduction\/\">Agribusiness<\/a>:\u00a0<\/strong><\/span><\/h4>\n<ul>\n<li><span style=\"color: #000000;\">Management guarantees efficacy<\/span><\/li>\n<li><span style=\"color: #000000;\">The precondition for the development of a country is sound management.<\/span><\/li>\n<li><span style=\"color: #000000;\">Management makes more effective human efforts.<\/span><\/li>\n<li><span style=\"color: #000000;\">Management ensures that all tools are used correctly.<\/span><\/li>\n<li><span style=\"color: #000000;\">Without management, technology will bear no fruit.<\/span><\/li>\n<li><span style=\"color: #000000;\">Management is action-focused.<\/span><\/li>\n<\/ul>\n<h4><span style=\"color: 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rel=\"noopener\">Supply chain Management and Agribusiness\u00a0<\/a><\/strong><\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Importance of Management in Agribusiness Business and Management is an interrelated term. The importance of Management in Agribusiness is a vital aspect.\u00a0 Management:\u00a0 Whenever one wants to get things done, managing is important. Without management, which is supervised in turn by managers, no company can carry on its operation. It is universal to handle and [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":620,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[99],"tags":[140],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Importance of Management in Agribusiness - Agribusiness Education and Research International<\/title>\n<meta name=\"description\" content=\"Importance of Management in Agribusiness. 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