Management - History

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.

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Famous quotes containing the word history:

    History ... is, indeed, little more than the register of the crimes, follies, and misfortunes of mankind.
    But what experience and history teach is this—that peoples and governments have never learned anything from history, or acted on principles deduced from it.
    Georg Wilhelm Friedrich Hegel (1770–1831)

    The history of literature—take the net result of Tiraboshi, Warton, or Schlegel,—is a sum of a very few ideas, and of very few original tales,—all the rest being variation of these.
    Ralph Waldo Emerson (1803–1882)

    It is remarkable how closely the history of the apple tree is connected with that of man.
    Henry David Thoreau (1817–1862)