Management

Management (or managing) is the administration of an organization, whether it is a business, a not-for-profit organization, or government body. Management includes the activities of setting the strategy of an organization and coordinating the efforts of its employees (or of volunteers) to accomplish its objectives through the application of available resources, such as financial, natural, technological, and human resources. The term "management" may also refer to those people who manage an organization.

Social scientists study management as an academic discipline, investigating areas such as social organization and organizational leadership.[1] Some people study management at colleges or universities; major degrees in management include the Bachelor of Commerce (B.Com.) Bachelor of Business Administration (BBA.) Master of Business Administration (MBA.) and, for the public sector, the Master of Public Administration (MPA) degree. Individuals who aim to become management specialists or experts, management researchers, or professors may complete the Doctor of Management (DM), the Doctor of Business Administration (DBA), or the PhD in Business Administration or Management.

Larger organizations generally have three levels of managers, which are typically organized in a hierarchical, pyramid structure:

  • Senior managers, such as members of a Board of Directors and a Chief Executive Officer (CEO) or a President of an organization. They set the strategic goals of the organization and make decisions on how the overall organization will operate. Senior managers are generally executive-level professionals, and provide direction to middle management who directly or indirectly report to them.
  • Middle managers, examples of these would include branch managers, regional managers, department managers and section managers, who provide direction to front-line managers. Middle managers communicate the strategic goals of senior management to the front-line managers.
  • Lower managers, such as supervisors and front-line team leaders, oversee the work of regular employees (or volunteers, in some voluntary organizations) and provide direction on their work.

In smaller organizations, an individual manager may have a much wider scope. A single manager may perform several roles or even all of the roles commonly observed in a large organization.

USCG Org Chart
An organization chart for the United States Coast Guard shows the hierarchy of managerial roles in that organization.

Definitions

Views on the definition and scope of management include:

  • According to Henri Fayol, "to manage is to forecast and to plan, to organise, to command, to co-ordinate and to control."[2]
  • Fredmund Malik defines it as "the transformation of resources into utility."
  • Management included as one of the factors of production – along with machines, materials and money.
  • Ghislain Deslandes defines it as “a vulnerable force, under pressure to achieve results and endowed with the triple power of constraint, imitation and imagination, operating on subjective, interpersonal, institutional and environmental levels”.[3]
  • Peter Drucker (1909–2005) saw the basic task of management as twofold: marketing and innovation. Nevertheless, innovation is also linked to marketing (product innovation is a central strategic marketing issue). Peter Drucker identifies marketing as a key essence for business success, but management and marketing are generally understood as two different branches of business administration knowledge.

Theoretical scope

Management involves identifying the mission, objective, procedures, rules and manipulation[4] of the human capital of an enterprise to contribute to the success of the enterprise. This implies effective communication: an enterprise environment (as opposed to a physical or mechanical mechanism) implies human motivation and implies some sort of successful progress or system outcome. As such, management is not the manipulation of a mechanism (machine or automated program), not the herding of animals, and can occur either in a legal or in an illegal enterprise or environment. From an individual's perspective, management does not need to be seen solely from an enterprise point of view, because management is an essential function to improve one's life and relationships. Management is therefore everywhere and it has a wider range of application. Based on this, management must have humans. Communication and a positive endeavor are two main aspects of it either through enterprise or independent pursuit. Plans, measurements, motivational psychological tools, goals, and economic measures (profit, etc.) may or may not be necessary components for there to be management. At first, one views management functionally, such as measuring quantity, adjusting plans, meeting goals. This applies even in situations where planning does not take place. From this perspective, Henri Fayol (1841–1925)[5] considers management to consist of five functions:

  1. planning (forecasting)
  2. organizing
  3. commanding
  4. coordinating
  5. controlling

In another way of thinking, Mary Parker Follett (1868–1933), allegedly defined management as "the art of getting things done through people".[6] She described management as philosophy.[7]

Critics, however, find this definition useful but far too narrow. The phrase "management is what managers do" occurs widely,[8] suggesting the difficulty of defining management without circularity, the shifting nature of definitions and the connection of managerial practices with the existence of a managerial cadre or of a class.

One habit of thought regards management as equivalent to "business administration" and thus excludes management in places outside commerce, as for example in charities and in the public sector. More broadly, every organization must "manage" its work, people, processes, technology, etc. to maximize effectiveness. Nonetheless, many people refer to university departments that teach management as "business schools". Some such institutions (such as the Harvard Business School) use that name, while others (such as the Yale School of Management) employ the broader term "management".

English-speakers may also use the term "management" or "the management" as a collective word describing the managers of an organization, for example of a corporation.[9] Historically this use of the term often contrasted with the term "labor" – referring to those being managed.[10]

But in the present era the concept of management is identified in the wide areas and its frontiers have been pushed to a broader range. Apart from profitable organizations even non-profitable organizations (NGOs) apply management concepts. The concept and its uses are not constrained. Management on the whole is the process of planning, organizing, coordinating, leading and controlling.

Nature of work

In profitable organizations, management's primary function is the satisfaction of a range of stakeholders. This typically involves making a profit (for the shareholders), creating valued products at a reasonable cost (for customers), and providing great employment opportunities for employees. In nonprofit management, add the importance of keeping the faith of donors. In most models of management and governance, shareholders vote for the board of directors, and the board then hires senior management. Some organizations have experimented with other methods (such as employee-voting models) of selecting or reviewing managers, but this is rare.

History

Some see management as a late-modern (in the sense of late modernity) conceptualization.[11] On those terms it cannot have a pre-modern history – only harbingers (such as stewards). Others, however, detect management-like thought among ancient Sumerian traders and the builders of the pyramids of ancient Egypt. Slave-owners through the centuries faced the problems of exploiting/motivating a dependent but sometimes unenthusiastic or recalcitrant workforce, but many pre-industrial enterprises, given their small scale, did not feel compelled to face the issues of management systematically. However, innovations such as the spread of Hindu numerals (5th to 15th centuries) and the codification of double-entry book-keeping (1494) provided tools for management assessment, planning and control.

  • An organisation is more stable if members have the right to express their differences and solve their conflicts within it.
  • While one person can begin an organisation, "it is lasting when it is left in the care of many and when many desire to maintain it".
  • A weak manager can follow a strong one, but not another weak one, and maintain authority.
  • A manager seeking to change an established organization "should retain at least a shadow of the ancient customs".

With the changing workplaces of industrial revolutions in the 18th and 19th centuries, military theory and practice contributed approaches to managing the newly-popular factories.[12]

Given the scale of most commercial operations and the lack of mechanized record-keeping and recording before the industrial revolution, it made sense for most owners of enterprises in those times to carry out management functions by and for themselves. But with growing size and complexity of organizations, a distinction between owners (individuals, industrial dynasties or groups of shareholders) and day-to-day managers (independent specialists in planning and control) gradually became more common.

Etymology

The English verb "manage" comes from the Italian maneggiare (to handle, especially tools or a horse), which derives from the two Latin words manus (hand) and agere (to act). The French word for housekeeping, ménagerie, derived from ménager ("to keep house"; compare ménage for "household"), also encompasses taking care of domestic animals. Ménagerie is the French translation of Xenophon's famous book Oeconomicus[13] (Greek: Οἰκονομικός) on household matters and husbandry. The French word mesnagement (or ménagement) influenced the semantic development of the English word management in the 17th and 18th centuries.[14]

Early writing

Management (according to some definitions) has existed for millennia, and several writers have produced background works that have contributed to modern management theories.[15] Some theorists have cited ancient military texts as providing lessons for civilian managers. For example, Chinese general Sun Tzu in his 6th-century BC work The Art of War recommends (when re-phrased in modern terminology) being aware of and acting on strengths and weaknesses of both a manager's organization and a foe's.[15] The writings of influential Chinese Legalist philosopher Shen Buhai may be considered to embody a rare premodern example of abstract theory of administration.[16]

Various ancient and medieval civilizations produced "mirrors for princes" books, which aimed to advise new monarchs on how to govern. Plato described job specialization in 350 BC, and Alfarabi listed several leadership traits in AD 900.[17] Other examples include the Indian Arthashastra by Chanakya (written around 300 BC), and The Prince by Italian author Niccolò Machiavelli (c. 1515).[18]

Written in 1776 by Adam Smith, a Scottish moral philosopher, The Wealth of Nations discussed efficient organization of work through division of labour.[18] Smith described how changes in processes could boost productivity in the manufacture of pins. While individuals could produce 200 pins per day, Smith analyzed the steps involved in manufacture and, with 10 specialists, enabled production of 48,000 pins per day.[18]

19th century

Classical economists such as Adam Smith (1723–1790) and John Stuart Mill (1806–1873) provided a theoretical background to resource allocation, production, and pricing issues. About the same time, innovators like Eli Whitney (1765–1825), James Watt (1736–1819), and Matthew Boulton (1728–1809) developed elements of technical production such as standardization, quality-control procedures, cost-accounting, interchangeability of parts, and work-planning. Many of these aspects of management existed in the pre-1861 slave-based sector of the US economy. That environment saw 4 million people, as the contemporary usages had it, "managed" in profitable quasi-mass production.

Salaried managers as an identifiable group first became prominent in the late 19th century.[19]

20th century

By about 1900 one finds managers trying to place their theories on what they regarded as a thoroughly scientific basis (see scientism for perceived limitations of this belief). Examples include Henry R. Towne's Science of management in the 1890s, Frederick Winslow Taylor's The Principles of Scientific Management (1911), Lillian Gilbreth's Psychology of Management (1914),[20] Frank and Lillian Gilbreth's Applied motion study (1917), and Henry L. Gantt's charts (1910s). J. Duncan wrote the first college management-textbook in 1911. In 1912 Yoichi Ueno introduced Taylorism to Japan and became the first management consultant of the "Japanese-management style". His son Ichiro Ueno pioneered Japanese quality assurance.

The first comprehensive theories of management appeared around 1920. The Harvard Business School offered the first Master of Business Administration degree (MBA) in 1921. People like Henri Fayol (1841–1925) and Alexander Church (1866-1936) described the various branches of management and their inter-relationships. In the early-20th century, people like Ordway Tead (1891–1973), Walter Scott (1869-1955) and J. Mooney applied the principles of psychology to management. Other writers, such as Elton Mayo (1880–1949), Mary Parker Follett (1868–1933), Chester Barnard (1886–1961), Max Weber (1864–1920), who saw what he called the "administrator" as bureaucrat,[21] Rensis Likert (1903–1981), and Chris Argyris (born 1923) approached the phenomenon of management from a sociological perspective.

Peter Drucker (1909–2005) wrote one of the earliest books on applied management: Concept of the Corporation (published in 1946). It resulted from Alfred Sloan (chairman of General Motors until 1956) commissioning a study of the organisation. Drucker went on to write 39 books, many in the same vein.

H. Dodge, Ronald Fisher (1890–1962), and Thornton C. Fry introduced statistical techniques into management-studies. In the 1940s, Patrick Blackett worked in the development of the applied-mathematics science of operations research, initially for military operations. Operations research, sometimes known as "management science" (but distinct from Taylor's scientific management), attempts to take a scientific approach to solving decision-problems, and can apply directly to multiple management problems, particularly in the areas of logistics and operations.

Some of the more recent developments include the Theory of Constraints, management by objectives, reengineering, Six Sigma, the Viable system model, and various information-technology-driven theories such as agile software development, as well as group-management theories such as Cog's Ladder.

As the general recognition of managers as a class solidified during the 20th century and gave perceived practitioners of the art/science of management a certain amount of prestige, so the way opened for popularised systems of management ideas to peddle their wares. In this context many management fads may have had more to do with pop psychology than with scientific theories of management.

Business management includes the following branches:

  1. financial management
  2. human resource management
  3. information technology management (responsible for management information systems)
  4. marketing management
  5. operations management and production management
  6. strategic management

21st century

In the 21st century observers find it increasingly difficult to subdivide management into functional categories in this way. More and more processes simultaneously involve several categories. Instead, one tends to think in terms of the various processes, tasks, and objects subject to management.

Branches of management theory also exist relating to nonprofits and to government: such as public administration, public management, and educational management. Further, management programs related to civil-society organizations have also spawned programs in nonprofit management and social entrepreneurship.

Note that many of the assumptions made by management have come under attack from business-ethics viewpoints, critical management studies, and anti-corporate activism.

As one consequence, workplace democracy (sometimes referred to as Workers' self-management) has become both more common and more advocated, in some places distributing all management functions among workers, each of whom takes on a portion of the work. However, these models predate any current political issue, and may occur more naturally than does a command hierarchy. All management embraces to some degree a democratic principle—in that in the long term, the majority of workers must support management. Otherwise, they leave to find other work or go on strike. Despite the move toward workplace democracy, command-and-control organization structures remain commonplace as de facto organization structures. Indeed, the entrenched nature of command-and-control is evident in the way that recent layoffs have been conducted with management ranks affected far less than employees at the lower levels. In some cases, management has even rewarded itself with bonuses after laying off lower-level workers.[22]

According to leadership-academic Manfred F.R. Kets de Vries, a contemporary senior-management team will almost inevitably have some personality disorders.[23]

Topics

Basics

According to Fayol, management operates through five basic functions: planning, organizing, coordinating, commanding, and controlling.

  • Planning: Deciding what needs to happen in the future and generating plans for action (deciding in advance).
  • Organizing (or staffing): Making sure the human and nonhuman resources are put into place.[24]
  • Coordinating: Creating a structure through which an organization's goals can be accomplished.
  • Commanding (or leading): Determining what must be done in a situation and getting people to do it.
  • Controlling: Checking progress against plans.

Basic roles

  • Interpersonal: roles that involve coordination and interaction with employees

Figurehead, leader

  • Informational: roles that involve handling, sharing, and analyzing information

Nerve centre, disseminator

  • Decision: roles that require decision-making

Entrepreneur, negotiator, allocator

Skills

Management skills include:

  • political: used to build a power base and to establish connections
  • conceptual: used to analyze complex situations
  • interpersonal: used to communicate, motivate, mentor and delegate
  • diagnostic: ability to visualize appropriate responses to a situation
  • leadership: ability to lead and to provide guidance to a specific group
  • technical: expertise in one's particular functional area.
  • behavioral: perception towards others.

Implementation of policies and strategies

  • All policies and strategies must be discussed with all managerial personnel and staff.
  • Managers must understand where and how they can implement their policies and strategies.
  • A plan of action must be devised for each department.
  • Policies and strategies must be reviewed regularly.
  • Contingency plans must be devised in case the environment changes.
  • Top-level managers should carry out regular progress assessments.
  • The business requires team spirit and a good environment.
  • The missions, objectives, strengths and weaknesses of each department must be analyzed to determine their roles in achieving the business's mission.
  • The forecasting method develops a reliable picture of the business' future environment.
  • A planning unit must be created to ensure that all plans are consistent and that policies and strategies are aimed at achieving the same mission and objectives.

Policies and strategies in the planning process

  • They give mid and lower-level managers a good idea of the future plans for each department in an organization.
  • A framework is created whereby plans and decisions are made.
  • Mid and lower-level management may add their own plans to the business's strategies.

Levels

Most organizations have three management levels: first-level, middle-level, and top-level managers. First-line managers are the lowest level of management and manage the work of nonmanagerial individuals who are directly involved with the production or creation of the organization's products. First-line managers are often called supervisors, but may also be called line managers, office managers, or even foremen. Middle managers include all levels of management between the first-line level and the top level of the organization. These managers manage the work of first-line managers and may have titles such as department head, project leader, plant manager, or division manager. Top managers are responsible for making organization-wide decisions and establishing the plans and goals that affect the entire organization. These individuals typically have titles such as executive vice president, president, managing director, chief operating officer, chief executive officer, or chairman of the board.

These managers are classified in a hierarchy of authority, and perform different tasks. In many organizations, the number of managers in every level resembles a pyramid. Each level is explained below in specifications of their different responsibilities and likely job titles.

Top

The top or senior layer of management consists of the board of directors (including non-executive directors and executive directors), president, vice-president, CEOs and other members of the C-level executives. Different organizations have various members in their C-suite, which may include a Chief Financial Officer, Chief Technology Officer, and so on. They are responsible for controlling and overseeing the operations of the entire organization. They set a "tone at the top" and develop strategic plans, company policies, and make decisions on the overall direction of the organization. In addition, top-level managers play a significant role in the mobilization of outside resources. Senior managers are accountable to the shareholders, the general public and to public bodies that oversee corporations and similar organizations. Some members of the senior management may serve as the public face of the organization, and they may make speeches to introduce new strategies or appear in marketing.

The board of directors is typically primarily composed of non-executives who owe a fiduciary duty to shareholders and are not closely involved in the day-to-day activities of the organization, although this varies depending on the type (e.g., public versus private), size and culture of the organization. These directors are theoretically liable for breaches of that duty and typically insured under directors and officers liability insurance. Fortune 500 directors are estimated to spend 4.4 hours per week on board duties, and median compensation was $212,512 in 2010. The board sets corporate strategy, makes major decisions such as major acquisitions,[25] and hires, evaluates, and fires the top-level manager (Chief Executive Officer or CEO). The CEO typically hires other positions. However, board involvement in the hiring of other positions such as the Chief Financial Officer (CFO) has increased.[26] In 2013, a survey of over 160 CEOs and directors of public and private companies found that the top weaknesses of CEOs were "mentoring skills" and "board engagement", and 10% of companies never evaluated the CEO.[27] The board may also have certain employees (e.g., internal auditors) report to them or directly hire independent contractors; for example, the board (through the audit committee) typically selects the auditor.

Helpful skills of top management vary by the type of organization but typically include[28] a broad understanding of competition, world economies, and politics. In addition, the CEO is responsible for implementing and determining (within the board's framework) the broad policies of the organization. Executive management accomplishes the day-to-day details, including: instructions for preparation of department budgets, procedures, schedules; appointment of middle level executives such as department managers; coordination of departments; media and governmental relations; and shareholder communication.

Middle

Consist of general managers, branch managers and department managers. They are accountable to the top management for their department's function. They devote more time to organizational and directional functions. Their roles can be emphasized as executing organizational plans in conformance with the company's policies and the objectives of the top management, they define and discuss information and policies from top management to lower management, and most importantly they inspire and provide guidance to lower level managers towards better performance.

Middle management is the midway management of a categorized organization, being secondary to the senior management but above the deepest levels of operational members. An operational manager may be well-thought-out by middle management, or may be categorized as non-management operate, liable to the policy of the specific organization. Efficiency of the middle level is vital in any organization, since they bridge the gap between top level and bottom level staffs.

Their functions include:

  • Design and implement effective group and inter-group work and information systems.
  • Define and monitor group-level performance indicators.
  • Diagnose and resolve problems within and among work groups.
  • Design and implement reward systems that support cooperative behavior. They also make decision and share ideas with top managers.

Lower

Lower managers include supervisors, section leaders, forepersons and team leaders. They focus on controlling and directing regular employees. They are usually responsible for assigning employees' tasks, guiding and supervising employees on day-to-day activities, ensuring the quality and quantity of production and/or service, making recommendations and suggestions to employees on their work, and channeling employee concerns that they cannot resolve to mid-level managers or other administrators. First-level or "front line" managers also act as role models for their employees. In some types of work, front line managers may also do some of the same tasks that employees do, at least some of the time. For example, in some restaurants, the front line managers will also serve customers during a very busy period of the day.

Front-line managers typically provide:

  • Training for new employees
  • Basic supervision
  • Motivation
  • Performance feedback and guidance

Some front-line managers may also provide career planning for employees who aim to rise within the organization.

Training

Colleges and universities around the world offer bachelor's degrees, graduate degrees, diplomas and certificates in management, generally within their colleges of business, business schools or faculty of management but also in other related departments. In the 2010s, there has been an increase in online management education and training in the form of electronic educational technology ( also called e-learning). Online education has increased the accessibility of management training to people who do not live near a college or university, or who cannot afford to travel to a city where such training is available.

While some professions require academic credentials in order to work in the profession (e.g., law, medicine, engineering, which require, respectively the Bachelor of Law, Doctor of Medicine and Bachelor of Engineering degrees), management and administration positions do not necessarily require the completion of academic degrees. Some well-known senior executives in the US who did not complete a degree include Steve Jobs, Bill Gates and Mark Zuckerberg. However, many managers and executives have completed some type of business or management training, such as a Bachelor of Commerce or a Master of Business Administration degree. Some major organizations, including companies, not-for-profit organizations and governments, require applicants to managerial or executive positions to hold at minimum Bachelor's degree in a field related to administration or management, or in the case of business jobs, a Bachelor of Commerce or a similar degree.

United States of America

Undergraduate

At the undergraduate level, the most common business program is the Bachelor of Commerce (B.Com.). However to manage technological areas, you need an undergraduate degree in a STEM area as preferred to Defense Acquisition University guidelines. This is typically a four-year program that includes courses that give students an overview of the role of managers in planning and directing within an organization. Course topics include accounting, financial management, statistics, marketing, strategy, and other related areas. There are many other undergraduate degrees that include the study of management, such as Bachelor of Arts degrees with a major in business administration or management and Bachelor of Public Administration (B.P.A), a degree designed for individuals aiming to work as bureaucrats in the government jobs. Many colleges and universities also offer certificates and diplomas in business administration or management, which typically require one to two years of full-time study.

Graduate

At the graduate level students aiming at careers as managers or executives may choose to specialize in major subareas of management or business administration such as entrepreneurship, human resources, international business, organizational behavior, organizational theory, strategic management,[29] accounting, corporate finance, entertainment, global management, healthcare management, investment management, sustainability and real estate. A Master of Business Administration (MBA) is the most popular professional degree at the master's level and can be obtained from many universities in the United States. MBA programs provide further education in management and leadership for graduate students. Other master's degrees in business and management include Master of Management (MM) and the Master of Science (M.Sc.) in business administration or management, which is typically taken by students aiming to become researchers or professors. There are also specialized master's degrees in administration for individuals aiming at careers outside of business, such as the Master of Public Administration (MPA) degree (also offered as a Master of Arts in Public Administration in some universities), for students aiming to become managers or executives in the public service and the Master of Health Administration, for students aiming to become managers or executives in the health care and hospital sector.

Management doctorates are the most advanced terminal degrees in the field of business and management. Most individuals obtaining management doctorates take the programs to obtain the training in research methods, statistical analysis and writing academic papers that they will need to seek careers as researchers, senior consultants and/or professors in business administration or management. There are three main types of management doctorates: the Doctor of Management (D.M.), the Doctor of Business Administration (D.B.A.), and the Ph.D. in Business Administration or Management. In the 2010s, doctorates in business administration and management are available with many specializations.

Good practices

While management trends can change so fast, the long term trend in management has been defined by a market embracing diversity and a rising service industry. Managers are currently being trained to encourage greater equality for minorities and women in the workplace, by offering increased flexibility in working hours, better retraining, and innovative (and usually industry-specific) performance markers. Managers destined for the service sector are being trained to use unique measurement techniques, better worker support and more charismatic leadership styles.[30] Human resources finds itself increasingly working with management in a training capacity to help collect management data on the success (or failure) of management actions with employees.[31]

See also

References

  1. ^ Waring, S.P., 2016. Taylorism transformed: Scientific management theory since 1945. UNC Press Books.
  2. ^ SS Gulshan. Management Principles and Practices by Lallan Prasad and SS Gulshan. Excel Books India. pp. 6–. ISBN 978-93-5062-099-1.
  3. ^ Deslandes G., (2014), “Management in Xenophon's Philosophy : a Retrospective Analysis”, 38th Annual Research Conference, Philosophy of Management, 2014, July 14–16, Chicago
  4. ^ Prabbal Frank attempts to make a subtle distinction between management and manipulation: Frank, Prabbal (2007). People Manipulation: A Positive Approach (2 ed.). New Delhi: Sterling Publishers Pvt. Ltd (published 2009). pp. 3–7. ISBN 978-81-207-4352-6. Retrieved 2015-09-05. There is a difference between management and manipulation. The difference is thin [...] If management is handling, then manipulation is skilful handling. In short, manipulation is skilful management. [...] Manipulation is in essence leveraged management. [...] It is an alive thing while management is a dead concept. It requires a proactive approach rather than a reactive approach. [...] People cannot be managed.
  5. ^ Administration industrielle et générale – prévoyance organization – commandment, coordination – contrôle, Paris : Dunod, 1966
  6. ^ Jones, Norman L. (2013-10-02). "Chapter Two: Of Poetry and Politics: The Managerial Culture of Sixteenth-Century England". In Kaufman, Peter Iver. Leadership and Elizabethan Culture. Jepson Studies in Leadership. Palgrave Macmillan (published 2013). p. 18. ISBN 978-1-137-34029-0. Retrieved 2015-08-29. Mary Parker Follett, the 'prophet of management' reputedly defined management as the 'art of getting things done through people.' [...] Whether or not she said it, Follett describes the attributes of dynamic management as being coactive rather than coercive.
  7. ^ Vocational Business: Training, Developing and Motivating People by Richard Barrett – Business & Economics – 2003. p. 51.
  8. ^ Compare: Holmes, Leonard (2012-11-28). The Dominance of Management: A Participatory Critique. Voices in Development Management. Ashgate Publishing, Ltd. (published 2012). p. 20. ISBN 978-1-4094-8866-8. Retrieved 2015-08-29. Lupton's (1983: 17) notion that management is 'what managers do during their working hours', if valid, could only apply to descriptive conceptualizations of management, where 'management' is effectively synonymous with 'managing', and where 'managing' refers to an activity, or set of activities carried out by managers.
  9. ^ Harper, Douglas. "management". Online Etymology Dictionary. Retrieved 2015-08-29. – "Meaning 'governing body' (originally of a theater) is from 1739."
  10. ^ See for examples Melling, Joseph; McKinlay, Alan, eds. (1996). Management, Labour, and Industrial Politics in Modern Europe: The Quest for Productivity Growth During the Twentieth Century. Edward Elgar. ISBN 978-1-85898-016-4. Retrieved 2015-08-29.
  11. ^ Waring, S.P., 2016, Taylorism transformed: Scientific management theory since 1945. UNC Press Books.
  12. ^ Giddens, Anthony (1981). A Contemporary Critique of Historical Materialism. Social and Politic Theory from Polity Press. 1. University of California Press. p. 125. ISBN 978-0-520-04490-6. Retrieved 2013-12-29. In the army barracks, and in the mass co-ordination of men on the battlefield (epitomised by the military innovations of Prince Maurice of Orange and Nassau in the sixteenth century) are to be found the prototype of the regimentation of the factory – as both Marx and Weber noted.
  13. ^ "Oikonomikos. Oder Xenophon vom Haus-Wesen, aus der Griechischen- in die Teutsche Sprache übersetzet von Barthold Henrich Brockes, dem jüngern. Mit einer Vorrede S.T. Herrn Jo. Alb. Fabricii ... Nebst den wenigen Stücken, die aus der Lateinischen Uebersetzung Ciceronis noch übrig". 1734.
  14. ^ "Home : Oxford English Dictionary".
  15. ^ a b Gomez-Mejia, Luis R.; David B. Balkin; Robert L. Cardy (2008). Management: People, Performance, Change, 3rd edition. New York: McGraw-Hill. p. 19. ISBN 978-0-07-302743-2.
  16. ^ Creel, 1974 pp. 4–5 Shen Pu-hai: A Chinese Political Philosopher of the Fourth Century B.C.
  17. ^ Griffin, Ricky W. CUSTOM Management: Principles and Practices, International Edition, 11th Edition. Cengage Learning UK, 08/2014
  18. ^ a b c Gomez-Mejia, Luis R.; David B. Balkin; Robert L. Cardy (2008). Management: People, Performance, Change (3 ed.). New York: McGraw-Hill. p. 20. ISBN 978-0-07-302743-2.
  19. ^ Khurana, Rakesh (2010) [2007]. From Higher Aims to Hired Hands: The Social Transformation of American Business Schools and the Unfulfilled Promise of Management as a Profession. Princeton University Press. p. 3. ISBN 978-1-4008-3086-2. Retrieved 2013-08-24. When salaried managers first appeared in the large corporations of the late nineteenth century, it was not obvious who they were, what they did, or why they should be entrusted with the task of running corporations.
  20. ^ Gilbreth, Lillian Moller. The Psychology of Management: The Function of the Mind in Determining, Teaching and Installing Methods of Least Waste – via Internet Archive.
  21. ^ Legge, David; Stanton, Pauline; Smyth, Anne (October 2005). "Learning management (and managing your own learning)". In Harris, Mary G. Managing Health Services: Concepts and Practice. Marrickville, NSW: Elsevier Australia (published 2006). p. 13. ISBN 978-0-7295-3759-9. Retrieved 2014-07-11. The manager as bureaucrat is the guardian of roles, rules and relationships; his or her style of management relies heavily on working according to the book. In the Weberian tradition managers are necessary to coordinate the different roles that contribute to the production process and to mediate communication from head office to the shop floor and back. This style of management assumes a world view in which bureaucratic role is seen as separate from, and taking precedence over, other constructions of self (including the obligations of citizenship), at least for the duration if the working day.
  22. ^ Craig, S. (2009, January 29). Merrill Bonus Case Widens as Deal Struggles. Wall Street Journal. [1]
  23. ^ Manfred F.R. Kets de Vries: "The Dark Side of Leadership" – Business Strategy Review 14(3), Autumn p. 26 (2003).
  24. ^ Jean-Louis Peaucelle (2015). Henri Fayol, the Manager. Routledge. pp. 55–. ISBN 978-1-317-31939-9.
  25. ^ Board of Directors: Duties & Liabilities Archived 2014-03-24 at the Wayback Machine. Stanford Graduate School of Business.
  26. ^ DeMars L. (2006). Heavy Vetting: Boards of directors now want to talk to would-be CFOs — and vice versa. CFO Magazine.
  27. ^ 2013 CEO Performance Evaluation Survey. Stanford Graduate School of Business.
  28. ^ Kleiman, Lawrence S. "Management and Executive Development."Reference for Business:Encyclopedia of Business(2010): n.p. 25 Mar 2011. [2].
  29. ^ "AOM Placement Presentations".
  30. ^ "Four Ways to Be A Better Boss". www.randstadusa.com. Randstad USA. Retrieved 18 January 2015.
  31. ^ "The Role of HR in Uncertain Times" (PDF). Economist Intelligence Unit. Economist Intelligence Unit. Retrieved 18 January 2015.

External links

Accenture

Accenture is a global management consulting and professional services firm that provides strategy, consulting, digital, technology and operations services. A Fortune Global 500 company, it has been incorporated in Dublin, Ireland, since 1 September 2009. In 2018, the company reported net revenues of $39.6 billion, with more than 459,000 employees serving clients in more than 200 cities in 120 countries. In 2015, the company had about 150,000 employees in India, about 48,000 in the US, and about 50,000 in the Philippines. Accenture's current clients include 95 of the Fortune Global 100 and more than three-quarters of the Fortune Global 500.

Agile software development

Agile software development is an approach to software development under which requirements and solutions evolve through the collaborative effort of self-organizing and cross-functional teams and their customer(s)/end user(s). It advocates adaptive planning, evolutionary development, early delivery, and continual improvement, and it encourages rapid and flexible response to change.The term agile (sometimes written Agile) was popularized, in this context, by the Manifesto for Agile Software Development. The values and principles expoused in this manifesto were derived from and underpin a broad range of software development frameworks, including Scrum and Kanban.There is significant anecdotal evidence that adopting agile practices and values improves the agility of software professionals, teams and organizations; however, some empirical studies have found no scientific evidence.

Asset

In financial accounting, an asset is any resource owned by the business. Anything tangible or intangible that can be owned or controlled to produce value and that is held by a company to produce positive economic value is an asset. Simply stated, assets represent value of ownership that can be converted into cash (although cash itself is also considered an asset).

The balance sheet of a firm records the monetary value of the assets owned by that firm. It covers money and other valuables belonging to an individual or to a business.One can classify assets into two major asset classes: tangible assets and intangible assets. Tangible assets contain various subclasses, including current assets and fixed assets. Current assets include inventory, while fixed assets include such items as buildings and equipment.

Intangible assets are nonphysical resources and rights that have a value to the firm because they give the firm some kind of advantage in the marketplace. Examples of intangible assets include goodwill, copyrights, trademarks, patents and computer programs, and financial assets, including such items as accounts receivable, bonds and stocks.

Business

Business is the activity of making one's living or making money by producing or buying and selling products (such as goods and services). Simply put, it is "any activity or enterprise entered into for profit. It does not mean it is a company, a corporation, partnership, or have any such formal organization, but it can range from a street peddler to General Motors."Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business.

The term is also often used colloquially (but not by lawyers or by public officials) to refer to a company. A company, on the other hand, is a separate legal entity and provides for limited liability, as well as corporate tax rates. A company structure is more complicated and expensive to set up, but offers more protection and benefits for the owner.

Chief executive officer

The chief executive officer (CEO) or just chief executive (CE), is the most senior corporate, executive, or administrative officer in charge of managing an organization – especially an independent legal entity such as a company or nonprofit institution. CEOs lead a range of organizations, including public and private corporations, non-profit organizations and even some government organizations (e.g., Crown corporations). The CEO of a corporation or company typically reports to the board of directors and is charged with maximizing the value of the entity, which may include maximizing the share price, market share, revenues or another element. In the non-profit and government sector, CEOs typically aim at achieving outcomes related to the organization's mission, such as reducing poverty, increasing literacy, etc.

In the early 21st century, top executives typically had technical degrees in science, engineering or law.

Content management system

A content management system (CMS) manages the creation and modification of digital content. It typically supports multiple users in a collaborative environment.CMS features vary widely. Most CMSs include Web-based publishing, format management, history editing and version control, indexing, search, and retrieval. By their nature, content management systems support the separation of content and presentation.

A web content management system (WCM or WCMS) is a CMS designed to support the management of the content of Web pages. Most popular CMSs are also WCMSs. Web content includes text and embedded graphics, photos, video, audio, maps, and program code (such as for applications) that displays content or interacts with the user.

Such a content management system (CMS) typically has two major components. A content management application (CMA) is the front-end user interface that allows a user, even with limited expertise, to add, modify, and remove content from a website without the intervention of a webmaster. A content delivery application (CDA) compiles that information and updates the website.

Digital asset management systems are another type of CMS. They manage content with clearly defined author or ownership, such as documents, movies, pictures, phone numbers, and scientific data. Companies also use CMSs to store, control, revise, and publish documentation.

There are also component content management systems (CCMS), which are CMSs that manage content at a modular level rather than as pages or articles. CCMSs are often used in technical communication where many publications reuse the same content.

Based on market share statistics, the most popular content management system is WordPress, used by more than 28% of all websites on the Internet, and by 59% of all websites using a known content management system, followed by Joomla and Drupal.

Customer-relationship management

Customer-relationship management (CRM) is an approach to manage a company's interaction with current and potential customers. It uses data analysis about customers' history with a company to improve business relationships with customers, specifically focusing on customer retention and ultimately driving sales growth.One important aspect of the CRM approach is the systems of CRM that compile data from a range of different communication channels, including a company's website, telephone, email, live chat, marketing materials and more recently, social media. Through the CRM approach and the systems used to facilitate it, businesses learn more about their target audiences and how to best cater to their needs.

Database

A database is an organized collection of data, generally stored and accessed electronically from a computer system. Where databases are more complex they are often developed using formal design and modeling techniques.

The database management system (DBMS) is the software that interacts with end users, applications, and the database itself to capture and analyze the data. The DBMS software additionally encompasses the core facilities provided to administer the database. The sum total of the database, the DBMS and the associated applications can be referred to as a "database system". Often the term "database" is also used to loosely refer to any of the DBMS, the database system or an application associated with the database.

Computer scientists may classify database-management systems according to the database models that they support. Relational databases became dominant in the 1980s. These model data as rows and columns in a series of tables, and the vast majority use SQL for writing and querying data. In the 2000s, non-relational databases became popular, referred to as NoSQL because they use different query languages.

Emergency management

Emergency management is the organization and management of the resources and responsibilities for dealing with all humanitarian aspects of emergencies (preparedness, response, mitigation, and recovery). The aim is to reduce the harmful effects of all hazards, including disasters.

The World Health Organization defines an emergency as the state in which normal procedures are interrupted, and immediate measures need to be taken to prevent that state turning into a disaster. Thus, emergency management is crucial to avoid the disruption transforming into a disaster, which is even harder to recover from. Emergency management is a related term but should not be equated to disaster management.

Enterprise resource planning

Enterprise resource planning (ERP) is the integrated management of core business processes, often in real-time and mediated by software and technology.

ERP is usually referred to as a category of business management software — typically a suite of integrated applications—that an organization can use to collect, store, manage, and interpret data from these many business activities.

ERP provides an integrated and continuously updated view of core business processes using common databases maintained by a database management system. ERP systems track business resources—cash, raw materials, production capacity—and the status of business commitments: orders, purchase orders, and payroll. The applications that make up the system share data across various departments (manufacturing, purchasing, sales, accounting, etc.) that provide the data. ERP facilitates information flow between all business functions and manages connections to outside stakeholders.Enterprise system software is a multibillion-dollar industry that produces components supporting a variety of business functions. IT investments have become the largest category of capital expenditure in United States-based businesses over the past decade. Though early ERP systems focused on large enterprises, smaller enterprises increasingly use ERP systems.The ERP system integrates varied organizational systems and facilitates error-free transactions and production, thereby enhancing the organization's efficiency. However, developing an ERP system differs from traditional system development.

ERP systems run on a variety of computer hardware and network configurations, typically using a database as an information repository.

Finance

Finance is a field that is concerned with the allocation (investment) of assets and liabilities over space and time, often under conditions of risk or uncertainty. Finance can also be defined as the art of money management. Participants in the market aim to price assets based on their risk level, fundamental value, and their expected rate of return. Finance can be split into three sub-categories: public finance, corporate finance and personal finance.

Human resource management

Human resource management (HRM or HR) is the strategic approach to the effective management of people in an organization so that they help the business to gain a competitive advantage. It is designed to maximize employee performance in service of an employer's strategic objectives. HR is primarily concerned with the management of people within organizations, focusing on policies and on systems. HR departments are responsible for overseeing employee-benefits design, employee recruitment, training and development, performance appraisal, and Reward management (e.g., managing pay and benefit systems). HR also concerns itself with organizational change and industrial relations, that is, the balancing of organizational practices with requirements arising from collective bargaining and from governmental laws.Human resources' overall purpose is to ensure that the organization is able to achieve success through people. HR professionals manage the human capital of an organization and focus on implementing policies and processes. They can specialize in recruiting, training, employee-relations or benefits, recruiting specialists, find, and hire top talent. Training and development professionals ensure that employees are trained and have continuous development. This is done through training programs, performance evaluations, and reward programs. Employee relations deals with concerns of employees when policies are broken, such as in cases involving harassment or discrimination. Employee benefits' role includes developing compensation structures, family-leave programs, discounts and other benefits that employees can get. On the other side of the field are human resources generalists or business partners. These human-resources professionals could work in all areas or be labor-relations representatives working with unionized employees.

HR is a product of the human relations movement of the early 20th century when researchers began documenting ways of creating business value through the strategic management of the workforce. It was initially dominated by transactional work, such as payroll and benefits administration, but due to globalization, company consolidation, technological advances, and further research, HR as of 2015 focuses on strategic initiatives like mergers and acquisitions, talent management, succession planning, industrial and labor relations, and diversity and inclusion. In the current global work environment, most companies focus on lowering employee turnover and on retaining the talent and knowledge held by their workforce. New hiring not only entails a high cost but also increases the risk of a newcomer not being able to replace the person who worked in a position before. HR departments strive to offer benefits that will appeal to workers, thus reducing the risk of losing employee commitment and psychological ownership.

Logistics

Logistics is generally the detailed organization and implementation of a complex operation. In a general business sense, logistics is the management of the flow of things between the point of origin and the point of consumption in order to meet requirements of customers or corporations. The resources managed in logistics may include tangible goods such as materials, equipment, and supplies, as well as food and other consumable items. The logistics of physical items usually involves the integration of information flow, materials handling, production, packaging, inventory, transportation, warehousing, and often security.

In military science, logistics is concerned with maintaining army supply lines while disrupting those of the enemy, since an armed force without resources and transportation is defenseless. Military logistics was already practiced in the ancient world and as modern military have a significant need for logistics solutions, advanced implementations have been developed. In military logistics, logistics officers manage how and when to move resources to the places they are needed.

Logistics management is the part of supply chain management that plans, implements, and controls the efficient, effective forward, and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption in order to meet customer's requirements. The complexity of logistics can be modeled, analyzed, visualized, and optimized by dedicated simulation software. The minimization of the use of resources is a common motivation in all logistics fields. A professional working in the field of logistics management is called a logistician.

Master of Business Administration

The Master of Business Administration (MBA or M.B.A.) degree originated in the United States in the early 20th century when the country industrialized and companies sought scientific approaches to management. The core courses in an MBA program cover various areas of business such as accounting, applied statistics, business communication, business ethics, business law, finance, managerial economics, management, entrepreneurship, marketing and operations in a manner most relevant to management analysis and strategy.

Most programs also include elective courses and concentrations for further study in a particular area, for example accounting, finance, and marketing. MBA programs in the United States typically require completing about sixty credits, nearly twice the number of credits typically required for degrees that cover some of the same material such as the Master of Economics, Master of Finance, Master of Accountancy, Master of Science in Marketing and Master of Science in Management.

The MBA is a terminal degree and a professional degree. Accreditation bodies specifically for MBA programs ensure consistency and quality of education. Business schools in many countries offer programs tailored to full-time, part-time, executive (abridged coursework typically occurring on nights or weekends) and distance learning students, many with specialized concentrations.

Project management

Project management is the practice of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals and meet specific success criteria at the specified time.

The primary challenge of project management is to achieve all of the project goals within the given constraints. This information is usually described in project documentation, created at the beginning of the development process. The primary constraints are scope, time, quality and budget. The secondary – and more ambitious – challenge is to optimize the allocation of necessary inputs and apply them to meet pre-defined objectives. The object of project management is to produce a complete project which complies with the client's objectives. In many cases the object of project management is also to shape or reform the client's brief in order to feasibly be able to address the client's objectives. Once the client's objectives are clearly established they should influence all decisions made by other people involved in the project – for example project managers, designers, contractors and sub-contractors. Ill-defined or too tightly prescribed project management objectives are detrimental to decision making.

A project is a temporary endeavor designed to produce a unique product, service or result with a defined beginning and end (usually time-constrained, and often constrained by funding or staffing) undertaken to meet unique goals and objectives, typically to bring about beneficial change or added value. The temporary nature of projects stands in contrast with business as usual (or operations), which are repetitive, permanent, or semi-permanent functional activities to produce products or services. In practice, the management of such distinct production approaches requires the development of distinct technical skills and management strategies.

Public relations

Public relations (PR) is the practice of deliberately managing the spread of information between an individual or an organization (such as a business, government agency, or a nonprofit organization) and the public. Public relations may include an organization or individual gaining exposure to their audiences using topics of public interest and news items that do not require direct payment. This differentiates it from advertising as a form of marketing communications. Public relations is the idea of creating coverage for clients for free, rather than marketing or advertising. But now advertising is also a part of greater PR Activities.

An example of good public relations would be generating an article featuring a client, rather than paying for the client to be advertised next to the article. The aim of public relations is to inform the public, prospective customers, investors, partners, employees, and other stakeholders and ultimately persuade them to maintain a positive or favorable view about the organization, its leadership, products, or political decisions. Public relations professionals typically work for PR and marketing firms, businesses and companies, government, and public officials as PIOs and nongovernmental organizations, and nonprofit organizations. Jobs central to public relations include account coordinator, account executive, account supervisor, and media relations manager.Public relations specialists establish and maintain relationships with an organisation's target audience, the media, relevant trade media, and other opinion leaders. Common responsibilities include designing communications campaigns, writing news releases and other content for news, working with the press, arranging interviews for company spokespeople, writing speeches for company leaders, acting as an organisation's spokesperson, preparing clients for press conferences, media interviews and speeches, writing website and social media content, managing company reputation (crisis management), managing internal communications, and marketing activities like brand awareness and event management Success in the field of public relations requires a deep understanding of the interests and concerns of each of the company's many stakeholders. The public relations professional must know how to effectively address those concerns using the most powerful tool of the public relations trade, which is publicity.

Risk management

Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.

Risks can come from various sources including uncertainty in financial markets, threats from project failures (at any phase in design, development, production, or sustainment life-cycles), legal liabilities, credit risk, accidents, natural causes and disasters, deliberate attack from an adversary, or events of uncertain or unpredictable root-cause. There are two types of events i.e. negative events can be classified as risks while positive events are classified as opportunities. Several risk management standards have been developed including the Project Management Institute, the National Institute of Standards and Technology, actuarial societies, and ISO standards. Methods, definitions and goals vary widely according to whether the risk management method is in the context of project management, security, engineering, industrial processes, financial portfolios, actuarial assessments, or public health and safety.

Strategies to manage threats (uncertainties with negative consequences) typically include avoiding the threat, reducing the negative effect or probability of the threat, transferring all or part of the threat to another party, and even retaining some or all of the potential or actual consequences of a particular threat, and the opposites for opportunities (uncertain future states with benefits).

Certain aspects of many of the risk management standards have come under criticism for having no measurable improvement on risk; whereas the confidence in estimates and decisions seem to increase. For example, one study found that one in six IT projects were "black swans" with gigantic overruns (cost overruns averaged 200%, and schedule overruns 70%).

Supply-chain management

In commerce, supply-chain management (SCM), the management of the flow of goods and services, involves the movement and storage of raw materials, of work-in-process inventory, and of finished goods from point of origin to point of consumption. Interconnected or interlinked networks, channels and node businesses combine in the provision of products and services required by end customers in a supply chain. Supply-chain management has been defined as the "design, planning, execution, control, and monitoring of supply-chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronizing supply with demand and measuring performance globally."

SCM practice draws heavily from the areas of industrial engineering, systems engineering, operations management, logistics, procurement, information technology, and marketing and strives for an integrated approach. Marketing channels play an important role in supply-chain management. Current research in supply-chain management is concerned with topics related to sustainability and risk management, among others. Some suggest that the “people dimension” of SCM, ethical issues, internal integration, transparency/visibility, and human capital/talent management are topics that have, so far, been underrepresented on the research agenda.

Waste management

Waste management (or waste disposal) are the activities and actions required to manage waste from its inception to its final disposal.

This includes the collection, transport, treatment and disposal of waste, together with monitoring and regulation of the waste management process.

Waste can be solid, liquid, or gaseous and each type has different methods of disposal and management. Waste management deals with all types of waste, including industrial, biological and household. In some cases waste can pose a threat to human health. Waste is produced by human activity, for example the extraction and processing of raw materials. Waste management is intended to reduce adverse effects of waste on human health, the environment or aesthetics.

Waste management practices are not uniform among countries (developed and developing nations); regions (urban and rural areas), and residential and industrial sectors can all take different approaches.A large portion of waste management practices deal with municipal solid waste (MSW) which is the bulk of the waste that is created by household, industrial, and commercial activity.

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