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Home > QFINANCE Dictionary > Definition of management

Definition of

management

General Management

using firm's resources effectively to achieve goals the use of professional skills for identifying and achieving organizational objectives through the deployment of appropriate resources. Management involves identifying what needs to be done, and organizing and supporting others to perform the necessary tasks. A manager has complex and ever-changing responsibilities, the focus of which shifts to reflect the issues, trends, and preoccupations of the time. At the beginning of the 20th century, the emphasis was both on supporting the organization's administration and managing productivity through increased efficiency. At the beginning of the 21st century, those original drivers are still much in evidence, although the emphasis has moved to key areas of competence such as people management. Although management is a profession in its own right, its skill set often applies to professionals of other disciplines.

Definitions of ’management’ and meaning of ’management’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’management’ and other financial terms with our online QFINANCE Financial Dictionary.

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