Management

Management (or managing) is the administration of an organization, whether it is a business, a not-for-profitorganization, or government body. Management includes the activities of setting the strategy of an organizationand 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 -  managers.

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 (MSM or MIM) and, for the public sector, the 's (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 Ph.D. in Business Administration or Management. There has recently[when?]been a movement for evidence-based management.

Larger organizations generally have three hierarchical levels of managers,in a 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-levelprofessionals 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 managersq, 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.

Social scientists study management as an academic discipline, investigating areas such as social organization, organizational adaptation, and organizational leadership.

Etymology
The English verb "manage" comes from the Italian maneggiare (to handle, especially tools or a horse), which derives from the two Latin words manus (hand) and agere (to act). The French word for housekeeping, ménagerie, derived from ménager ("to keep house"; compare ménage for "household"), also encompasses taking care of domestic animals. Ménagerie is the French translation of Xenophon's famous book Oeconomicus[3] (Greek: Οἰκονομικός) on household matters and husbandry. The French word mesnagement (or ménagement) influenced the semantic development of the English word management in the 17th and 18th centuries.[4]

Levels
Most organizations have three management levels: first-level, middle-level, and top-level managers. First-line managers are the lowest level of management and manage the work of non-managerial individuals who are directly involved with the production or creation of the organization's products. First-line managers are often called supervisors, but may also be called line managers, office managers, or even foremen. Middle managers include all levels of management between the first-line level and the top level of the organization. These managers manage the work of first-line managers and may have titles such as department head, project leader, plant manager, or division manager. Top managers are responsible for making organization-wide decisions and establishing the plans and goals that affect the entire organization. These individuals typically have titles such as executive vice president, president, managing director, chief operating officer, chief executive officer, or chairman of the board.

These managers are classified in a hierarchy of authority, and perform different tasks. In many organizations, the number of managers in every level resembles a pyramid. Each level is explained below in specifications of their different responsibilities and likely job titles.

TopEdit
The top or senior layer of management consists of the board of directors(including non-executive directors, executive directors and independent directors), president, vice-president, CEOs and other members of the C-level executives. Different organizations have various members in their C-suite, which may include a chief financial officer, chief technology officer, and so on. They are responsible for controlling and overseeing the operations of the entire organization. They set a "tone at the top" and develop strategic plans, company policies, and make decisions on the overall direction of the organization. In addition, top-level managers play a significant role in the mobilization of outside resources. Senior managers are accountable to the shareholders, the general public and to public bodies that oversee corporations and similar organizations. Some members of the senior management may serve as the public face of the organization, and they may make speeches to introduce new strategies or appear in marketing.

The board of directors is typically primarily composed of non-executives who owe a fiduciary duty to shareholders and are not closely involved in the day-to-day activities of the organization, although this varies depending on the type (e.g., public versus private), size and culture of the organization. These directors are theoretically liable for breaches of that duty and typically insured under directors and officers liability insurance. Fortune 500 directors are estimated to spend 4.4 hours per week on board duties, and median compensation was $212,512 in 2010. The board sets corporate strategy, makes major decisions such as major acquisitions, and hires, evaluates, and fires the top-level manager (chief executive officer or CEO). The CEO typically hires other positions. However, board involvement in the hiring of other positions such as the chief financial officer (CFO) has increased. In 2013, a survey of over 160 CEOs and directors of public and private companies found that the top weaknesses of CEOs were "mentoring skills" and "board engagement", and 10% of companies never evaluated the CEO. The board may also have certain employees (e.g., internal auditors) report to them or directly hire independent contractors; for example, the board (through the audit committee) typically selects the auditor.

Helpful skills of top management vary by the type of organization but typically include a broad understanding of competition, world economies, and politics. In addition, the CEO is responsible for implementing and determining (within the board's framework) the broad policies of the organization. Executive management accomplishes the day-to-day details, including: instructions for preparation of department budgets, procedures, schedules; appointment of middle level executives such as department managers; coordination of departments; media and governmental relations; and shareholder communication.

MiddleEdit
Consist of general managers, branch managers and department managers. They are accountable to the top management for their department's function. They devote more time to organizational and directional functions. Their roles can be emphasized as executing organizational plans in conformance with the company's policies and the objectives of the top management, they define and discuss information and policies from top management to lower management, and most importantly they inspire and provide guidance to lower-level managers towards better performance.

Middle management is the midway management of a categorized organization, being secondary to the senior management but above the deepest levels of operational members. An operational manager may be well-thought-out by middle management or may be categorized as non-management operate, liable to the policy of the specific organization. The efficiency of the middle level is vital in any organization since they bridge the gap between top level and bottom level staffs.

Their functions include:


 * Design and implement effective group and inter-group work and information systems.
 * Define and monitor group-level performance indicators.
 * Diagnose and resolve problems within and among workgroups.
 * Design and implement reward systems that support cooperative behavior. They also make decision and share ideas with top managers.

LowerEdit
Lower managers include supervisors, section leaders, forepersons and team leaders. They focus on controlling and directing regular employees. They are usually responsible for assigning employees' tasks, guiding and supervising employees on day-to-day activities, ensuring the quality and quantity of production and/or service, making recommendations and suggestions to employees on their work, and channeling employee concerns that they cannot resolve to mid-level managers or other administrators. First-level or "front line" managers also act as role models for their employees. In some types of work, front line managers may also do some of the same tasks that employees do, at least some of the time. For example, in some restaurants, the front line managers will also serve customers during a very busy period of the day.

Front-line managers typically provide:


 * Training for new employees
 * Basic supervision
 * Motivation
 * Performance feedback and guidance

Some front-line managers may also provide career planning for employees who aim to rise within the organization.