(redirected from Management Studies)
Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia.


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


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.


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 ?
Admissions for the Global Business and Management Studies MBA 2015 intake start December 1, 2014.
University of Central England in Birmingham, Perry Bar: Excellent, music; Satisfactory, business and management studies, English, mechanical engineering.
That said, it must be admitted that Oxford's acceptance of management studies was at first unusually protracted.
Anura Kumara, Dean of the Faculty of Management Studies and Commerce, Dr.
Verma, Faculty of Management Studies, University of Delhi said, "I thank Reckitt Benckiser for conceptualizing and conducting such a distinctive competition for the students.
Dr Condry will complete his Open University diploma in management studies in April.
in Finance and Economics from San Diego State University in 1993 and completed graduate and advanced financial management studies, receiving his MBA from San Diego State University in 2005.
Tenders are invited for To provide food catering services to the participants of fms conference 2018 for 1 day on 10th february 2018 to be held at the faculty of management studies, north campus, university of delhi
The Routledge Companion to Critical Management Studies
4 -- Jagan Institute of Management Studies (JIMS), an institute of excellence in the field of management studies and technical education, recently organized alumni Dandiya Nite 2011 at its Campus in Rohini.
He has selected articles and book excerpts that are relatively broad, rather than specialized, can be expected to be influential, and illustrate core approaches to critical management studies.
The members of the instructional team were Ms Virginia Caudill, DISAM Director of Management Studies, and Dr.

Full browser ?