Management

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Management

The people who administer a company, create policies, and provide the support necessary to implement the owners' business objectives.

Management

1. The persons or institutions that administer a company. That is, management has the responsibility to direct employees, set and enforce policies, and generally ensure that the company fulfills its goals (which management itself often sets). Management is responsible to the board of directors (of a publicly-traded company) and ultimately to the company's owners. In small companies, owners and managers are often the same people.

2. See: Asset management.

management

The process of organizing and directing human and physical resources within an ORGANIZATION so as to meet defined objectives. The key management roles are:
  1. planning how to carry out the various activities which are required to achieve the objective. This involves establishing an action programme (see BUSINESS PLAN) and an appropriate organization structure within which tasks can be subdivided (for example into production, personnel, marketing and finance); RESPONSIBILITY for them delegated; and PAY and reward systems instituted (see JOB DESIGN AND REDESIGN, WORK ORGANIZATION);
  2. CONTROL, by comparing current performance with that planned in order to monitor progress of the work. Such comparisons reveal where additional resources may be needed to achieve desired performance or when plans may need to be modified in the light of experience;
  3. COORDINATION of the tasks being undertaken, which involves synchronizing and balancing work loads and ensuring effective collaboration between the various DEPARTMENTS and GROUPS within the organization;
  4. MOTIVATION of the members of the organization, encouraging them to work effectively in performing their assigned task.

CLASSICAL MANAGEMENT THEORY portrayed management as a rational activity largely concerned with establishing routines and procedures for administering the work. More recently this emphasis has been questioned in a number of respects. Research has shown that much of the manager's working day is spent on tasks other than those suggested in this approach, for example attending retirement presentations, responding to telephone enquiries etc. Much of the manager's job involves ad hoc reactions to events. Other research has shown that managers ‘muddle through’, aiming at achieving satisfactory rather than optimum outcomes (see SATISFICING).

Recent writing on management has emphasized the LEADERSHIP aspect of the managerial function. The key issue here concerns the means by which managers can achieve effective performance from their subordinates. Two basic approaches are identified in the literature (on MANAGEMENT STYLE):

  1. task orientation, where managers' relationship with their subordinates is essentially directive, being primarily focused on getting the job done;
  2. people orientation, where managers show a greater concern for their subordinates' well-being, on the grounds that a contented workforce performs effectively.

Some believe that good leaders are born with certain personal qualities whilst others believe that these can be instilled through MANAGEMENT DEVELOPMENT. Whatever perspective is taken it should be remembered that leadership involves more than a leader: it also involves subordinates and a context. Good leadership is that which produces appropriate behaviour from others in particular situations. See ORGANIZATIONAL ANALYSIS, BOARD OF DIRECTORS.

References in periodicals archive ?
Things are changing so fast that you have to stay up-to-date on new analysis programs like Strategic Enterprise Management. If we stay more engaged in how technology is deployed, good things come from that - like faster and better decision making - and lead to increased shareholder value.
Enterprise management solutions provider BMC Software Inc (NYSE: BMC) has entered into an agreement to acquire Marimba Inc (Nasdaq: MRBA), a software change and configuration management solutions provider.
Computer Associate's Unicenter TNG, introduced in 1997, is a comprehensive enterprise management environment with a framework-based architecture and a bewildering amount of modules (80+ management modules alone).
Communications services supplier Infonet Services Corp has launched its Enterprise Management Service for monitoring IT software and systems.
"We are excited about the opportunity to work with Unisys to provide our customers with a comprehensive management solution for the most common customer scenarios," said David Hamilton, director of the Enterprise Management Division at Microsoft Corp.
This enterprise management suite provides centralized performance measurement, event management, and automation to a Windows NT/2000 network.
Each product was evaluated in three key areas: security engine, enterprise management, and policy enforcement.
Network security and availability solutions provider Network Associates Inc has released its Sniffer Enterprise Management Architecture for network monitoring and control.
Attendees also viewed the first implementation of Internet Web-Based Enterprise Management (WEBM), which managed heterogeneous storage systems spanning two continents.
In addition to offering SNMP MIBs, Cisco is committed to supporting the SNIA Storage Management Initiative (SMI) and is working to add a Common Information Model/Web-Based Enterprise Management (CIM/WEBM) interface to the Cisco MDS 9000.
IT departments want to move to Storage Area Networks (SANs) because they dramatically reduce the enterprise management costs while offering the promise of offloading routine storage management tasks without the drain of both CPU and people resources.

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