Page 2: The importance of good management
The success of any business depends heavily on the effectiveness of its managers. Good managers need to make the right decisions and ensure the business is able to exploit any opportunities open to it. At the same time, good managers protect the business by anticipating and acting against any threats to its welfare.
According to Frenchman Henri Fayol (1841-1925), managers have to:
- forecast and plan to determine where the business is going
- organise the resources necessary to achieve these objectives
- command people to do things
- coordinate the different activities
- control the activities to make sure they are completed as planned.
Managers in an organisation have to decide on its priorities and allocate resources within it. They must decide what needs doing and how best to do it. A good manager should push the business forward, as new challenges arise, and take responsibility for their decisions.