Definition of Management

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Management, a term usually used in connection with business activities, organizations, and companies, is the practice of coordinating the activities and work of the employees, or people within a company so that its goals and plans are accomplished effectively and quickly. This is done through various methods, using the resources of the organization, and there are special positions and departments dealing with this aspect; the actual work and methods may vary slightly depending on the field of activity, on the type of business that is conducted, on the principles of the organization, and even on various economic, sociopolitical, geopolitical factors as well. This is the basic definition of management, but to further understand what it deals with exactly we are going to elaborate the subject.

Another definition of management could be that it deals with organizing, directing, leading, staffing and controlling what goes on in a company. Management will also deal with resourcing, which implies the finding and establishing the use of human resources, technological resources, financial resources,  and even natural resources. There are many qualities that a manager has to have, and many skills and attributes, but this is because he/she also has numerous responsibilities. Not everyone can become a successful manager and studying alone isn’t enough; one has to have first and foremost the ability to manage oneself and then to effuse that over those under their authority. A manager may be confronted with issues that weren’t covered.

Peter Drucker, one of the leading management consultants, theoreticians, and professors of its time, included in his definition of management the fact that this field deals actually with two sub-fields: marketing and innovation. Innovation could be said to be a part of marketing, but it can also have its separate identity as well. One can market a product or service and one can also innovate that product as a marketing strategy, to attract a larger number of customers.

A manager has a lot of power of decision, and he or she can decide the direction a company will have. The management department within a company can be formed from a single person, but it can also have hundreds or thousands of employees working to manage all the aspects of the company; with their help, each department knows what the other is doing, and a communication route is created between them. The managers help departments communicate so everyone can achieve their goals in an effective and efficient manner. Large, multinational companies have a board of directors, which deal with the first stages of management; their directives are implemented by the chief executive officer, who then splits the responsibilities between those under his/her authority.

When it comes to finding a good definition of management, one could also say that it deals with handling the human capital of the enterprise. The manager can utilize certain strategies to motivate the employees, good communication being the simplest and most efficient of them all; plans can be made, projects drawn, tasks shared, goals set and resources utilized. Some consider management a philosophy, and Mary Parker Follett defined it as “the art of getting things done through people”. In for-profit enterprises, the job of the manager is to satisfy the needs and demands of the stakeholders; in non-profit organizations, the manager has to acquire and keep the faith and confidence of the donors.

Whatever the definition of management may be, this is a complex and complicated domain; while it may look simple enough in theory when the human factor enters the equation, matters become relative and debatable.

January 2022