Question

Explain in 5-8 sentences why studying management is important.

Answer 1

Studying management is important because

1. It encompasses the important organizational components that are essential in an organization like organizational behavior, human resources, and leadership aspects.
2. Studying management prepares an individual to become equipped with skills and tools to become an entrepreneur or start a business or work for organizations with a leadership role, etc.
3. As organizations and businesses evolve through globalization and other macroeconomic factors, management helps you understand the external factors that influence the operations of businesses around the world.
4. Studying management gives you an added advantage of understanding different cultures across the globe and the business etiquette in all of them to be successful in negotiation.
5. Studying management also prepares individuals to hold leadership positions in the organization as they study the theories of motivation and influence, that align team members to a common organizational objective.
6. The most important thing is management includes concepts such as strategic management, operations management, and human resource management, all these concepts play an important role in the success of a business in any market(local, international or global).