What does management mean
Management is the process of designing and maintaining an environment in which individuals, working together in groups, efficiently accomplish selected goals1.
In other words, “Management is the process of planning, organizing, leading, and controlling the efforts of organization members and of using all other organizational resources to achieve stated organizational goals”2.
Management focuses on the entire organization from both a short and a long-term perspective. Management aims to increase the effectiveness of organizations. It's about making the most of the resources entrusted to you, and making sure the expectations of customers, employees and shareholders are met.
Traditionally, management includes the following:
- planning
- organizing
- leading
- controlling
More specifically, management is responsible for the primary activities of the firm; those being inbound logistics, operations, outbound logistics, marketing and sales, and service.
Read Also: Nature of management, Functions of Management
Management is also responsible for the support activities of infrastructure (accounting, finance, strategic planning), human resource management (recruiting, training and development, compensation management), technology development (product and process improvement), and procurement (material acquisition).
Management crosses cultural boundaries as most organizations of significant size operate internationally. Primary and support activities are performed in an international context.
