A society is constituted by a group of individuals having the same ideologies. A society has its economy that touches all activities and a proper management contributes a lot in the growth of the economy. It is therefore important to look into the role of management in the growth of an economy.
the meaning of the economy management
Generally, an economy management is known to be the act of managing the resources, the expenses, the income and even the finance of a society or an organization, or of a company. Management means a lot to the economy of a group of people.
The economy management, as said above, is a major factor in a society or an enterprise. The management helps to have a clear view of what a society has as a resource or the finances of the society. This will help in managing them in a way that will be profitable for all.
Economic management is like the heart of the economy of a society. There is no economy without management. So, management is what makes a company or society's economy good or bad. The nature of the economy depends on the kind of management put in place.
the role of management in the growth of the economy
Now that we know what economy management means, we have to know it’s role in the growth of the economy. Firstly, the management of an economy is the factor that will determine its growth or not. This is because of its importance in the area of the economy.
Management helps to improve the productivity of a society. With a good managing system of the goods and services of a society, the society's products will surely increase. Management will do with the resources on ground and try to make things work in order to avoid loss.
Management is the act of putting things in place to ensure a good governance of resources and finances of a society. This good governance is to provoke growth in the economy by properly using the resources of the society.
A society without management is just good for nothing because it will surely collapse.