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Management included as one of the factors of production - along with machines, materials and money
Management in businesses and organizations is the function that coordinates the eorts of people to accomplish
goals and objectives by using available resources eciently and eectively.
Etymology
While the Italian word maneggiare refers to subaltern responsibilities, the modern Italian language would characterize the work of an executive as gestire.
2.1
Theoretical scope
Denitions
4 HISTORICAL DEVELOPMENT
even non-protable organizations (NGOs) apply management concepts. The concept and its uses are not constrained. Management on the whole is the process of
planning, organizing, stang, leading and controlling.
5. coordinating
One habit of thought regards management as equivalent to "business administration" and thus excludes management in places outside commerce, as for example in
charities and in the public sector. More broadly, every
organization must manage its work, people, processes,
technology, etc. to maximize eectiveness. Nonetheless, many people refer to university departments that
teach management as "business schools". Some such institutions (such as the Harvard Business School) use that
name, while others (such as the Yale School of Manage- With the changing workplaces of industrial revolutions in
ment) employ the broader term management.
the 18th and 19th centuries, military theory and practice
English-speakers may also use the term management contributed approaches to managing the newly-popular
or the management as a collective word describing factories.[14]
the managers of an organization, for example of a Given the scale of most commercial operations and the
corporation.[12] Historically this use of the term often lack of mechanized record-keeping and recording becontrasted with the term labor - referring to those being fore the industrial revolution, it made sense for most
managed.[13]
owners of enterprises in those times to carry out manageBut in the present era the concept of management is iden- ment functions by and for themselves. But with growtied in the wide areas and its frontiers have been pushed ing size and complexity of organizations, the split beto a broader range. Apart from protable organizations tween owners (individuals, industrial dynasties or groups
4.3
20th century
4.2
19th century
Salaried managers as an identiable group rst became As the general recognition of managers as a class solidprominent in the late 19th century.[17]
ied during the 20th century and gave perceived prac-
5 TOPICS
titioners of the art/science of management a certain According to leadership academic Manfred F.R. Kets de
amount of prestige, so the way opened for popularised Vries, a contemporary senior management team will alsystems of management ideas to peddle their wares. In most inevitably have some personality disorders.[21]
this context many management fads may have had more
to do with pop psychology than with scientic theories of
management.
5 Topics
Towards the end of the 20th century, business management came to consist of six separate branches, namely:
5.1
1. nancial management
2. human resource management
3. information technology management (responsible
for management information systems)
4. marketing management
5. operations management or production management
6. strategic management
4.4
21st century
In the 21st century observers nd it increasingly dicult to subdivide management into functional categories
in this way. More and more processes simultaneously involve several categories. Instead, one tends to think in
terms of the various processes, tasks, and objects subject
to management.
Branches of management theory also exist relating to
nonprots and to government: such as public administration, public management, and educational management.
Further, management programs related to civil-society
organizations have also spawned programs in nonprot
management and social entrepreneurship.
Note that many of the assumptions made by management
have come under attack from business-ethics viewpoints,
critical management studies, and anti-corporate activism.
Basic functions
5.4
6 Levels
Most organizations have three management levels: rstlevel, middle-level, and top-level managers. These man5.4.1 Implementation of policies and strategies
agers are classied in a hierarchy of authority, and perform dierent tasks. In many organizations, the number
All policies and strategies must be discussed with all of managers in every level resembles a pyramid. Each
managerial personnel and sta.
level is explained below in specications of their dierent responsibilities and likely job titles.
Managers must understand where and how they can
implement their policies and strategies.
A plan of action must be devised for each depart- 6.1 Top-level management
ment.
The top consists of the board of directors (including nonexecutive directors and executive directors), president,
Policies and strategies must be reviewed regularly.
vice-president, CEOs and other members of the C-level
Contingency plans must be devised in case the envi- executives. They are responsible for controlling and overronment changes.
seeing the entire organization. They set a tone at the top
and develop strategic plans, company policies, and make
Top-level managers should carry out regular
decisions on the direction of the business. In addition,
progress assessments.
top-level managers play a signicant role in the mobi The business requires team spirit and a good envi- lization of outside resources and are accountable to the
shareholders and general public.
ronment.
The missions, objectives, strengths and weaknesses The board of directors is typically primarily composed of
of each department must be analyzed to determine non-executives which owe a duciary duty to shareholders and are not closely involved in the day-to-day activtheir roles in achieving the businesss mission.
ities of the organization, although this varies depending
The forecasting method develops a reliable picture on the type (e.g., public versus private), size and culture
of the organization. These directors are theoretically liof the businesss future environment.
able for breaches of that duty and typically insured un A planning unit must be created to ensure that all der directors and ocers liability insurance. Fortune 500
plans are consistent and that policies and strategies directors are estimated to spend 4.4 hours per week on
are aimed at achieving the same mission and objec- board duties, and median compensation was $212,512 in
tives.
2010. The board sets corporate strategy, makes major
decisions such as major acquisitions,[25] and hires, evalAll policies must be discussed with all managerial per- uates, and res the top-level manager (Chief Executive
sonnel and sta that is required in the execution of any Ocer or CEO) and the CEO typically hires other positions. However, board involvement in the hiring of other
departmental policy.
6.2
Middle-level managers
TRAINING
7 Training
Universities around the world oer bachelors and advanced degrees, diplomas and certicates in management, generally within their colleges of business and business schools but also in other related departments. There
is also an increase in online management education and
training in the form of electronic educational technology
( also called e-learning).
Consist of general managers, branch managers and department managers. They are accountable to the top management for their departments function. They devote
more time to organizational and directional functions.
Their roles can be emphasized as executing organizational plans in conformance with the companys policies
and the objectives of the top management, they dene
7.1 United States of America
and discuss information and policies from top management to lower management, and most importantly they
At the graduate level students may choose to speinspire and provide guidance to lower level managers tocialize in major subareas of management such as
wards better performance.
entrepreneurship, human resources, international busiMiddle management is the midway management of a ness, organizational behavior, organizational theory,
categorized organization, being secondary to the senior strategic management.[29] accounting, corporate nance,
management but above the deepest levels of operational entertainment, global management, healthcare managemembers. An operational manager may be well-thought- ment, investment management, Leaders in Sustainabilout the middle management, or may be categorized as ity and real estate Masters of Business Administration
non-management operate, liable to the policy of the spe- (MBAs) can be obtained from many universities in the
cic organization. Eciency of the middle level is vital United States. MBAs provide further education in manin any organization, since they bridge the gap between top agement and leadership for graduate students.
level and bottom level stas.
Their functions include:
Design and implement eective group and inter- While management trends can change rapidly, the long
group work and information systems.
term trend in management has been dened by a market
embracing diversity and a rising service industry. Man Dene and monitor group-level performance indicaagers are currently being trained to encourage greater
tors.
equality for minorities and women in the workplace, by
Diagnose and resolve problems within and among oering increased exibility in working hours, better retraining, and innovative (and usually industry-specic)
work groups.
performance markers. Managers destined for the service
Design and implement reward systems that support sector are being trained to use unique measurement techcooperative behavior. They also make decision and niques, better worker support and more charismatic leadshare ideas with top managers.
ership styles.[30] Human resources nds itself increasingly
7
working with management in a training capacity to help
collect management data on the success (or failure) of
management actions with employees.[31]
See also
References
[1] http://www.oed.com/view/Entry/113218?
redirectedFrom=management#eid
[2] https://books.google.de/books?id=ITdXAAAAcAAJ&
pg=PP21&lpg=PP21&dq=menagerie+
xenophon&source=bl&ots=-xFcf4MOIt&sig=
KGryxF60feNGaDW9AlgIZJIb0gU&hl=de&
sa=X&ei=5V4_VfiLKZDfau-OgZgO&ved=
0CCQQ6AEwAA#v=onepage&q=menagerie%
20xenophon&f=false
[3] SS Gulshan. Management Principles and Practices by Lallan Prasad and SS Gulshan. Excel Books India. pp. 6.
ISBN 978-93-5062-099-1.
[4] Deslandes G., (2014), Management in Xenophons Philosophy : a Retrospective Analysis, 38th Annual Research Conference, Philosophy of Management, 2014,
July 1416, Chicago, USA
[5] Andreas Kaplan: European Management and European
Business Schools: Insights from the History of Business
Schools, European Management Journal, 2014.
[6] Management. Business Dictionary.
November 2012.
[8] Administration industrielle et gnrale - prvoyance organization - commandment, coordination contrle, Paris :
Dunod, 1966
[9] Jones, Norman L. (2013). Chapter Two: Of Poetry and
Politics: The Managerial Culture of Sixteenth-Century
England. In Kaufman, Peter Iver. Leadership and Elizabethan Culture. Jepson Studies in Leadership. Palgrave
Macmillan. p. 18. ISBN 9781137340290. Retrieved
2015-08-29. Mary Parker Follett, the 'prophet of management' reputedly dened management as the 'art of getting
things done through people.' [...] Whether or not she said
it, Follett describes the attributes of dynamic management
as being coactive rather than coercive.
[10] Vocational Business: Training, Developing and Motivating
People by Richard Barrett - Business & Economics - 2003.
- Page 51.
Technology management
Retrieved 29
[7] Prabbal Frank attempts to make a subtle distinction between management and manipulation: Frank, Prabbal
(2006). People Manipulation: A Positive Approach (2
ed.). New Delhi: Sterling Publishers Pvt. Ltd (published
2009). pp. 37. ISBN 9788120743526. Retrieved 201509-05. There is a dierence between management and
manipulation. The dierence is thin [...] If management
10
Stanford
[28] Kleiman, Lawrence S. " MANAGEMENT AND EXECUTIVE DEVELOPMENT."Reference for Business:
Encyclopedia of Business(2010): n. pag. Web. 25 Mar
2011. .
[29] http://aom.org/Placement/
AOM-Placement-Presentations.aspx
[30] Four Ways to Be A Better Boss. Randstad USA. Randstad USA. Retrieved 18 January 2015.
EXTERNAL LINKS
10 External links
Library resources in your library and in other libraries about Management
Media related to Management at Wikimedia Commons
Quotations related to Management at Wikiquote
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11.3
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