Management - History


The verb manage comes from the Italian maneggiare (to handle — especially tools), which in turn derives from the Latin manus (hand). The French word mesnagement (later ménagement) influenced the development in meaning of the English word management in the 17th and 18th centuries.

Some definitions of management are:

  • Organization and coordination of the activities of an enterprise in accordance with certain policies and in achievement of clearly 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 a management is twofold: marketing and innovation.
  • Directors and managers have the power and responsibility to make decisions to manage an enterprise when given the authority by the shareholders. As a discipline, management comprises the interlocking functions of formulating corporate policy and organizing, planning, controlling, and directing the firm's resources to achieve the policy's objectives. The size of management can range from one person in a small firm to hundreds or thousands of managers in multinational companies. In large firms the board of directors formulates the policy which is implemented by the chief executive officer.

Read more about this topic:  Management

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Famous quotes containing the word history:

    All objects, all phases of culture are alive. They have voices. They speak of their history and interrelatedness. And they are all talking at once!
    Camille Paglia (b. 1947)

    When the coherence of the parts of a stone, or even that composition of parts which renders it extended; when these familiar objects, I say, are so inexplicable, and contain circumstances so repugnant and contradictory; with what assurance can we decide concerning the origin of worlds, or trace their history from eternity to eternity?
    David Hume (1711–1776)

    Anyone who is practically acquainted with scientific work is aware that those who refuse to go beyond fact rarely get as far as fact; and anyone who has studied the history of science knows that almost every great step therein has been made by the “anticipation of Nature.”
    Thomas Henry Huxley (1825–95)