What is meant by the term management?
Management is a process or function that mobilizes people and resources to accomplish outlined goals and objectives. According to Henri Fayol, there are five functions that would ensure the process of production is conducted effectively and efficiently. These include:
- Planning, where management must provide a schedule of how production will be conducted using the available resources
- Organizing, where management is required to mobilize all resources for the purpose of production
- Commanding, where management is required to guide and direct activities conducted by human resources
- Coordinating, where management is required to ensure all the production processes are conducted in a systematic and synchronous manner
- Control, where management must monitor and evaluate all the processes involved in the production to provide an opportunity for mitigation and improvement.
It is also important to note that management theory has evolved over the years with different ideas proposed by different contributors. However, the five functions forwarded by Fayol have consistently been included in the general definition of management.
This all really depends on your context. 'Management' can be a reference to the group of individuals in a company or organization who hold power and authority over the lower-level employees. 'Management' can also mean how you deal with or control things around you, as in, "What is helpful for the management of stress?" To this, you could answer, "Exercise and sleep are helpful for the management of stress." There's an older form of the word that means to trick or deceive, but chances are you are looking for how it relates to business or dealing with issues you may have.
'Stress management' is a familiar phrase in American culture that acknowledges the need for employees to decompress from their demanding professionals lives.
Management can have 4 different meanings depending on its context (it is always a noun):
1. the act or way of managing; handling, directing, or controlling something
Ex. The teenager’s excellent time management of daily chores and homework allows him free time to play games.
2. the ability or skill of overseeing persons; executive capability
Ex. The teacher has superb management of his students and never wastes time.
3. the person or people who manage; handle, direct, control affairs of a business, institution, workplace, etc.
Ex. A good store requires an efficient and respectable management.
4. the collective executives, as distinguished from laborers
Ex. Why does management make all the money when the employees do all the work?