Management (noun)
Definition
The process of planning, organizing, coordinating, and controlling resources (such as human, financial, and material) to achieve specific goals and objectives within an organization or a group.
Etymology
The word “management” comes from the Old French term “management” or “ménagement,” which means “the art of conducting, directing, or handling.” It further traces its origins to the Latin word “manu agere,” which translates to “to lead by the hand.”
Synonyms
- Administration
- Supervision
- Direction
- Control
- Leadership
- Governance
- Operation
- Oversight
- Stewardship
- Regulation
Antonyms
- Mismanagement
- Neglect
- Inefficiency
- Disorganization
- Disorder
Example
Under her skillful management, the company’s profits doubled within a year, and employee satisfaction reached an all-time high.
FAQs (Frequently Asked Questions)
Is management limited to business organizations only?
No, management principles apply to various fields, including education, healthcare, government, and non-profit organizations. Any situation requiring the coordination of resources to achieve specific goals can benefit from effective management.
What is the difference between “management” and “leadership”?
While “management” involves the process of coordinating resources and activities to achieve objectives, “leadership” is more focused on guiding and inspiring others to achieve common goals. Leadership is an essential aspect of effective management, but management encompasses additional administrative functions.
Can management skills be learned, or are they innate?
Management skills can be learned and developed through education, training, and experience. While some individuals may have certain inherent traits that make them natural leaders or managers, effective management techniques can be acquired and refined over time.
What are some famous management theories?
Several management theories have been developed over time. Some notable ones include:
- Scientific Management: Introduced by Frederick Winslow Taylor, it focuses on efficiency and productivity through time and motion studies.
- Administrative Management: Developed by Henri Fayol, it emphasizes principles like unity of command, scalar chain, and division of labor.
- Human Relations Theory: Proposed by Elton Mayo, it stresses the importance of social factors and employee motivation in improving productivity.
- Contingency Theory: This approach, popularized by Fred Fiedler, suggests that the most effective management style depends on the specific situation and circumstances.
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