Management: Why Is It Necessary to Study?

Subject: Management
Pages: 1
Words: 238
Reading time:
< 1 min
Study level: College

The study of management is a valuable type of education because professionals, who have sufficient knowledge of it, can work in any sphere. The first argument in support of this position is that the logic of modern economics presupposes that managerial skills are required for every business. It is evident that humanity exists in conditions of resource scarcity. In other words, it is impossible to allocate existing limited resources in such a way that will bring success and accomplish businesses’ goals. Managers have skills for “efficient utilization of human and material resources” in such circumstances (Kaehler & Grundei, 2018, p. 9). Therefore, companies of any size and industry strive to have professionals in management because the absence of such a person will lead to failure and bankruptcy.

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The second justification is that managers can work in private and state sectors. In more detail, managers can work in private businesses, where managers can create plans and directions of development, and in state institutions, where managers can help construct public policies. Concerning the relationship with state agencies, the illustrative example will be the scholarship on New Public Management, which was formulated in the 1980s and has become one of the dominant models in public policy studies (Bromell, 2017). These theories and ideas are studied in the majority of management faculties worldwide, so graduates of management will have the opportunity to become integral professionals in the well-being of their communities.

​​References

Bromell, D. (2017). The art and craft of policy advising: A practical guide. New York, NY: Springer.

Kaehler, B., & Grundei, J. (2018). HR governance: A theoretical introduction. Cham, Switzerland: Springer.