Management (business)
Management is the coordination of people and resources to plan, organize, direct, and control an organization’s work toward its goals.
Planning: The process of setting objectives and choosing actions, resources, and timelines to achieve them. Management begins by deciding what the organization should accomplish and how.
Organizational structure: The formal arrangement of roles, responsibilities, reporting relationships, and decision authority in an organization. Structure determines how managerial authority and coordination are distributed.
Henri Fayol: A French mining engineer and management theorist who articulated principles and functions of administration. Fayol gave an influential early formulation of management’s functions.
Governance: The systems and processes through which an organization is directed, overseen, and held accountable. Governance sets oversight and accountability; management handles execution within those constraints.
Organizing: The arrangement of tasks, roles, authority, and resources into a coordinated structure. Plans require assigned responsibilities and relationships among people and resources.
Organizational culture: Shared assumptions, values, and norms that shape behavior within an organization. Culture influences how people respond to managerial decisions and expectations.
Frederick Winslow Taylor: An American engineer whose scientific management sought to improve industrial efficiency through systematic work analysis. Taylor’s methods made task design and measured efficiency central management concerns.
Entrepreneurship: The process of identifying opportunities and creating or developing ventures under uncertainty. Entrepreneurship centers on venture creation, while management coordinates ongoing organizational work.
Leadership: The process of influencing and motivating people toward shared goals. Managers guide people as they carry out coordinated work.
Delegation: The assignment of tasks and decision authority to another person while accountability remains with the delegator. Managers extend their capacity by assigning work and authority to others.