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Management
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The organization and coordination
of the activities
of a business
in order
to achieve
defined objectives.
Management is often included as a factor
of production
along with‚ machines,
materials,
and money.
According to the management guru Peter Drucker
(1909-2005), the basic task
of management includes both marketing
and innovation.
Practice
of modern management originates from the 16th century study
of low-efficiency and failures
of certain enterprises,
conducted by the English statesman Sir Thomas More
(1478-1535). Management consists of the interlocking functions
of creating corporate policy
and organizing,
planning,
controlling,
and directing
an organization's
resources
in order to achieve the objectives of that policy.
2. The directors
and managers
who have the power
and responsibility
to make decisions
and oversee an enterprise.
The size of management can range
from one person
in a small organization to hundreds or thousands of managers in multinational
companies.
In large organizations, the board of
directors defines
the policy which is then carried out by the chief executive
officer, or CEO. Some people agree that in order to evaluate a
company's current
and future worth,
the most important factors are the quality
and experience
of the managers.
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Friday 13 September 2013
What is management ?
