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 ?
To comprehend Global Fluid Management market dynamics in the world mainly, the worldwide Fluid Management market is analyzed across major global regions.
Goal-directed fluid management based on the pulse oximeter-derived pleth variability index reduces lactate levels and improves fluid management.
A rational approach to perioperative fluid management. Anesthesiology 2008; 109: 723-40.
The main findings of this prospective study were the following: (1) similar IOP measurements between patients who were treated with different preoperative fluid management protocols; (2) reduction in IOP following the induction of anesthesia in a supine and horizontal position and while patients were mechanically ventilated; (3) significant elevation of IOP during pneumoperitoneum and specifically in the steep Trendelenburg position; and (4) normal levels of IOP at about 12 hours postsurgery, similar to levels measured prior to the operation.
The Fluid Management Knowledge Centre is accessible at the following address: https://www.epgonline.org/fluid-management-knowledge-centre/en/index.cfm.
That's all great, but for contractors working on projects right now, drilling fluid management has become a major pain point.
For the nursing staff, the FluidSmart system was designed to have the easiest set up and operation than any other fluid management system currently available.
This reflects the company's commitment to quality and improvement, as well as our ongoing investment in our business to better serve our customers and their fluid management needs."
Used for a variety of hydrophilic finishes for nonwoven materials, ULTRAPHIL(r) CO offers distinct fluid management, particularly on cellulosic and blends with synthetics.
Pall Corporation is a filtration, separation and purification leader providing solutions to meet the critical fluid management needs of customers across the broad spectrum of life sciences and industry.
Other fluid management capabilities include high-quality syringe barrels and cartridges for packaging one- and two-component materials, along with a wide variety of fittings, couplers and connectors for controlling fluid flow in medical, biopharmaceutical and industrial environments.
Fluid management is a serious concern and challenges nephrology nurses to enhance their critical thinking skills.