Management

Management in businesses and organizations is the function that coordinates the efforts of people to accomplish goals and objectives using available resources efficiently and effectively.

Etymology

The verb 'manage' comes from the Italian maneggiare (to handle, especially tools), which derives from the two Latin words manus (hand) and agere (to act).

In that course, the French word ménagerie, derived from ménager (to keep house; cf.ménage for household), for housekeeping also encompasses taking care of domestic animals. Later, mesnagement (resp. ménagement) influenced the development in meaning of the English word management in the 17th and 18th centuries.^[1]

Thus, it should be noted that Ménagerie is the French translation of Xenophon's famous book Oeconomicus^[2] (Greek: Οἰκονομικός) on household matters and Husbandry.

While the Italian word maneggiare refers to subaltern responsibilities, the work of an executive would be described as gestire.

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."^[3]
• 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
• Peter Drucker (1909–2005) saw the basic task of a 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^{[by whom?]} as two different branches of business administration knowledge.
• Andreas Kaplan specifically defines European Management as a cross-cultural, societal management approach based on interdisciplinary principles.^[4]
• Directors and managers should have the authority and responsibility to make decisions to direct an enterprise when given the authority^{[citation needed]}
• As a discipline, management comprises the interlocking functions of formulating corporate policy and organizing, planning, controlling, and directing a firm's resources to achieve a policy's objectives
• The size of management can range from one person in a small firm to hundreds or thousands of managers in multinational companies.
• In large firms, the board of directors formulates the policy that the chief executive officer implements.^[5]

Theoretical scope

Management involves identifying the mission, objective, procedures, rules and the manipulation 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 in both a legal as well as illegal enterprise or environment.Management does not need to be seen from enterprise point of view alone, 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 enterprise endeavor. 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)^[6] considers management to consist of six functions:

1. Forecasting
2. Planning
3. Organizing
4. Commanding
5. Coordinating
6. Controlling

Henri Fayol was one of the most influential contributors to modern concepts of management.^{[citation needed]}
In another way of thinking, Mary Parker Follett (1868–1933), defined management as "the art of getting things done through people". 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, suggesting the difficulty of defining management, the shifting nature of definitions and the connection of managerial practices with the existence of a managerial cadre or 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 institutions (such as the Harvard Business School) use that name while others (such as the Yale School of Management) employ the more inclusive 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. Historically this use of the term often contrasted with the term "Labor" - referring to those being managed.
But in the present era management's use is identified in the wide areas and its frontiers have been pushed to a broader range. Apart from profitable organizations even non-profitable organizations (NGO) apply management concepts. The concept and its uses are not constrained. Management on the whole is the process of planning, organizing, staffing, leading and controlling.

Source:

http://en.wikipedia.org/wiki/Management