The success of any business organization is largely influenced by the competence of its employees and management. The mangers working at an organization essentially are considered to be one of the most critical aspects of employee successes. Larry Polhill underlines the fact that managers have a great role to play in recruiting, retaining and encouraging the greatest assets of any business organization, which are their employees. In its very essence, the key goal of managers ideally is to guide various organizations towards goal accomplishment. Every organization tends to have certain goals and purposes, and the mangers present there are ideally the ones responsible for combining and using various organizational resources for the purpose of making sure that an enterprise is able to achieve its primary purpose.
Larry Polhill highlights the importance of management in a business
Management can be considered to be a purposive activity that strives to direct group efforts towards the attainment of various pre-determined and defined goals. It is a systematic process that involves working with various other individuals and using limited resources in order to achieve the organizational goals. According to Larry Polhill, these goals typically differ from one enterprise to another. Mr. Polhill has been a part of the management domain and the corporate world for long, and therefore has quite a good insight about this sphere. He served as a manager in Capital Foods, LLC, and has quite an extensive background in Mergers and Acquisitions, as well as Corporate Finance. He was involved as an officer, Director and financier at American Pacific Financial Corp. (APFC).
Larry Polhill essentially puts a great stress on the importance of management in an organization. Here are a few reasons for it that he underlines:
- Aids in the achievement of group goals: The management of an organization is responsible for arranging the factors of production, organizing the resources, as well as integrating them in an effective manner for the purpose of achieving the company goals. The management ideally coverts disorganized recourses of money, machines and men into something useful for a company. They essentially coordinate, direct and control these goals in such manner that they are able to systematically work towards the achievement of company goals.
- Optimum utilization of resources: The company management ideally strives to make use of all the physical and human resources available in the most productive manner. This subsequently leads to superior efficiency in management. The management team of a company typically ensures maximum utilization of scare recourses by choosing the best possible alternate use for it in the industry.
- Reduces costs: The company management makes use of proper planning, as well as minimal inputs in order to achieve maximum output for the organization. They ideally make use of diverse uses physical, human and financial resources in a highly systematic manner that results in the most efficient results possible, in the most cost affordable price.
These were some of the most important functions of a company management that Larry Polhill points out and which he believes needs to be followed.