Arman works as the cost and risk management head of a company in power sector. As a result of his excellent managerial competence, the company is able to reduce costs and increase productivity. The company belongs to infrastructure sector, wherein regular amendments are made in the government regulations and policies. He holds regular meetings to ensure that people in his department are not only aware of the related changes but are also able to adapt to these changes effectively. This helps the company to maintain its competitive edge. He motivates and leads his team in such a manner that individual members are able to achieve their personal goals while contributing to the overall organisational objective. In the process of fulfilling his duties for the growth of the organisation, he helps in providing competitive services, adopting new technology, creating more employment opportunities etc. for the greater good of the people at large.
Identify the various reasons that have made management so important by quoting lines from the paragraph.