Management

Management 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.

Definition

The term Management encompasses 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.

History

The concept of management has been present in human society since the time of the ancient Egyptians. However, the formal study of management, as we know it today, began with the work of people like Frederick Winslow Taylor and Henri Fayol in the late 19th and early 20th centuries.

Types of Management

There are several different types of management, including:

• Strategic Management - This involves the formulation and implementation of the major goals and initiatives taken by an organization's top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization operates.

• Operations Management - This involves the responsibility of ensuring that business operations are efficient in terms of using as few resources as needed and effective in terms of meeting customer requirements.

• Human Resource Management - This involves the management of people within organizations, focusing on policies and systems.

See Also

• Business Administration
• Project Management
• Risk Management
• Change Management

References

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