Business - Management

Management

The efficient and effective operation of a business, and study of this subject, is called management. The major branches of management are financial management, marketing management, human resource management, strategic management, production management, operations management, service management and information technology management.

Owners engage in business administration either directly or indirectly through the employment of managers. Owner managers, or hired managers administer to three component resources that constitute the business' value or worth: financial resources, capital or tangible resources, and human resources. These resources are administered to in at least five functional areas: legal contracting, manufacturing or service production, marketing, accounting, financing, and human resourcing.

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Famous quotes containing the word management:

    People have described me as a “management bishop” but I say to my critics, “Jesus was a management expert too.”
    George Carey (b. 1935)

    The Management Area of Cherokee
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    Has mapped Tellico and Bald Rivers
    And North River, with the tributaries
    Brookshire Branch and Sugar Cove Creed:
    A fishy map for facile fishery....
    Allen Tate (1899–1979)

    This we take it is the grand characteristic of our age. By our skill in Mechanism, it has come to pass, that in the management of external things we excel all other ages; while in whatever respects the pure moral nature, in true dignity of soul and character, we are perhaps inferior to most civilised ages.
    Thomas Carlyle (1795–1881)