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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 ?
As the allergy market leader we envisage the brand not only continuing to grow within the allergy category but also forging even stronger links with retailers to offer consumers a completely unique allergy management treatment.
Council members will provide expert guidance as NPB works to build better understanding and correct misinformation surrounding effective food allergy management practices.
The CDC's newly issued "Voluntary Guidelines for Managing Food Allergies In Schools and Early Care and Education Programs" were devised to support and implement food allergy management and prevention plans in schools.
Easy and Affordable, MyAllergyTest is the Only At-Home Allergy Test; Provides Confidential Results for 10 Key Allergens and a Personalized Allergy Management Plan Based on Findings
FAAN (The Food Allergy & Anaphylaxis Network) is pleased to announce the release of its newly revised and updated School Food Allergy Program, a comprehensive guide designed to help schools implement food allergy management policies to keep students with food allergies safe.
The booklet also encourages development of school allergy management plans based on school district policy and implemented by a food allergy management team and others.
Houston's Hometown Anchor Has Full-Time Commitment to Food Allergy Management
uKnow (TM) Peanut ImmunoCAP Molecular Allergy Test Cutting-edge blood test identifies whether people are allergic to dangerous or more-benign peanut proteins, helping parents and patients create a food allergy management plan.
Through her family's experience, Lieberman is well aware of the life-changing aspect of food allergies and the challenges of food allergy management.
Medical experts advise that reducing exposure to allergens and irritants, such as dust mites, pet dander and formaldehyde should be a critical part of patient's asthma and allergy management plan.

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