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Management – act of allocating resources to accomplish desired goals and objectives efficiently and effectively. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal.
Management – act of allocating resources to accomplish desired goals and objectives efficiently and effectively. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. Management (or managing) is the administration of an organization, whether it be 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 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 the people who manage an organization. Management is also an academic discipline, a social science whose objective is to study social organization and organizational leadership. Management is studied at colleges and universities; some important degrees in management are the Bachelor of Commerce (B.Com.) and Master of Business Administration (M.B.A.) and, for the public sector, the Master of Public Administration (MPA) degree. Individuals who aim at becoming management researchers or professors may complete the Doctor of Business Administration (DBA) or the PhD in business administration or management. In larger organizations, there are generally three levels of managers, which are typically organized in a hierarchical, pyramid structure. Senior managers, such as the Board of Directors, Chief Executive Officer (CEO) or President of an organization, set the strategic goals of the organization and make decisions on how the overall organization will operate. Senior managers provide direction to the middle managers who report to them. Middle managers, examples of which would include branch managers, regional managers and section managers, 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, the roles of managers have much wider scopes. A manager can perform several roles or even all of the roles commonly observed in a large organization. There are many more smaller organizations than larger ones.
The administration of a business includes the performance or management of business operations and decision making, as well as the efficient organization of people and other resources, to direct activities toward common goals and objectives. In general, administration refers to the broader management function, including the associated finance, personnel and MIS services. In some analysis, management is viewed as a subset of administration, specifically associated with the technical and operational aspects of an organization, distinct from executive or strategic functions. Alternatively, administration can refer to the bureaucratic or operational performance of routine office tasks, usually internally oriented and reactive rather than proactive. Administrators, broadly speaking, engage in a common set of functions to meet the organization's goals. These "functions" of the administrator were described by Henri Fayol as "the five elements of administration". Sometimes creating output, which includes all of the processes that create the product that the business sells, is added as a sixth element. A business administrator oversees a business and its operations. The job is to ensure that the business meets its goals and is properly organized and managed. The tasks a person in this position has are both wide and varied, and often include ensuring that the right staff members are hired and properly trained, making plans for the business' success, and monitoring daily operations. When organizational changes are necessary, a person in this position usually leads the way as well. In some cases, the person who starts or owns the business serves as its administrator, but this is not always the case, as sometimes a company hires an individual for the job. When a person has the title of business administrator, they are essentially the manager of the company and its other managers. The person oversees those in managerial positions to ensure that they follow company policies and work toward the company's goals in the most efficient manner. For example, they may work with the managers of the human resources, production, finance, accounting, and marketing departments to ensure that they function properly and are working inline with the company's goals and objectives. Additionally, they might interact with people outside the company, such as business partners and vendors.