2. Increasing the Efficiency of factors of Production:
Through proper utilization of various factors of production, their efficiency can be increased to a great extent which can be obtained by reducing spoilage, wastage & breakage of all kinds, this in turn leads to saving of time, effort & money which is essential for the growth & prosperity of the enterprise.
3. Maximum Prosperity for Employer & Employees:
Management ensures smooth & coordinated functioning of the enterprise. This in turn helps in providing maximum benefits to the employee in the shape of good working condition, suitable wage system, incentive plans on the one h& & higher profits to the employer on the other h&.
4. Human betterment & Social Justice:
Management serves as a tool for the upper lift men as well as betterment of the society. Through increased productivity & employment, mgt ensures better standards of living for the society. It provides justice through its uniform policies.