Management (or managing) is the administration of an organization, whether it is a business, a not-for-profit organization, or government body. Management includes the activities of setting the strategy of an organization and coordinating the efforts of its employees (or of volunteers) to accomplish its objectives through the application of available resources, such as financial, natural, technological, and human resources. The term “management” may also refer to those people who manage an organization – individually: managers.
Social scientists study management as an academic discipline, investigating areas such as social organization and organizational leadership. Some people study management at colleges or universities; major degrees in management include the Bachelor of Commerce (B.Com.) Bachelor of Business Administration (BBA.) Master of Business Administration (MBA.) Master in Management (MScM or MIM) and, for the public sector, the Master of Public Administration (MPA) degree. Individuals who aim to become management specialists or experts, management researchers, or professors may complete the Doctor of Management (DM), the Doctor of Business Administration (DBA), or the PhD in Business Administration or Management. There has recently[when?] been a movement for evidence-based management.
Larger organizations generally have three levels of managers, which are typically organized[by whom?] in a hierarchical, pyramid structure:
Senior managers, such as members of a board of directors and a chief executive officer (CEO) or a president of an organization. They set the strategic goals of the organization and make decisions on how the overall organization will operate. Senior managers are generally executive-level professionals, and provide direction to middle management, who directly or indirectly report to them.
Middle managers – examples of these would include branch managers, regional managers, department managers and section managers, who provide direction to front-line managers. Middle managers communicate the strategic goals of senior management to the front-line managers.
Lower managers, such as supervisors and front-line team leaders, oversee the work of regular employees (or volunteers, in some voluntary organizations) and provide direction on their work.
In smaller organizations, a manager may have a much wider scope and may perform several roles or even all of the roles commonly observed in a large organization.
Management is essential for an organized life and necessary to run all types of management. Good management is the backbone of successful organizations. Managing life means getting things done to achieve life’s objectives and managing an organization means getting things done with and through other people to achieve its objectives.
Whether management is an art or science, will continue to be a subject of debate. However, most management thinkers agree that some form of formal academic management background helps in managing successfully. Practically, all CEO’s are university graduates. Hence, the reason for including business degree programs in all academic institutions.