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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 ?
The order is important to control the exercise progression and presentation of stress management information.
Furthermore, the Serenity Prayer is helpful because it effectively articulates primary stress management techniques, making it an ideal fit for classroom integration.
A whale of theories have been proposed about how this destructive factor affects the workforce performance and productivity, but as for its management, in recent years some books and articles are also being put in print; Demonstrating that there is a relationship between stress management and an increase in performance level.
Members at all levels at AIS propel the mission forward and are encouraged to not only access the substantial cache of stress research and statistics, but to also contribute their expertise and knowledge to continue to build upon and improve the science behind stress management.
As noted in the 2009 Standards of the Council for Accreditation of Counseling and Related Educational Programs (CACREP, 2009), counselor preparation programs are encouraged to implement wellness strategies that support student success; stress management training is a recognized component of wellness programs (Seaward, 2004; Young, 2005).
Often such mediating variables serve as useful guideposts for the development of an individualized stress management program.
The stress management coaching program is designed for life coaches, teachers, and fitness and wellness professionals interested in expanding their knowledge and business skills in a growing field.
Experts from the International organisation, The Challenge of Excellence, under the name 'Tsu Chu Buzz', managed the programme that focuses on entrepreneurship and teamwork, as well as, promotes the benefits of leadership, stress management and self development.
Officers designated as part of critical-incident stress management teams can pick up on a person's signs of stress, such as physical, emotional or behavioral changes.
To address this problem, MED established the Deployment Stress Management Program to teach, consult and become involved in activities supporting employees serving on high-stress/high-threat/ unaccompanied tours.
THE COVENTRY TELEGRAPH has teamed up with Evolve to offer four readers the chance to ease their tensions with six free sessions of stress management therapy, whether that be advice on fitness and nutrition, massage and complementary therapies, NLP or business coaching.
During follow-up after 3 months it was found that 71 percent of patients in the cognitive behaviour therapy group and 57 percent in the supportive stress management group saw their depression lift, compared to just 33 percent of patients in the usual care group.