Effective management is essential for several reasons:
Resource Allocation: Proper management ensures that resources are allocated efficiently to maximize productivity and minimize waste. Goal Setting: It helps in setting clear and achievable goals, which are crucial for the direction and growth of the business. Risk Management: Identifying and mitigating risks is a key aspect of management that helps in safeguarding the business. Team Coordination: Effective management fosters a collaborative environment, improving team performance and morale.