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Rationale
"Management" (from Old
French ménagement "the art of conducting,
directing", from Latin manu
agere "to lead by the hand") characterises the process
of leading and
directing all or part of an organisation,
often a business,
through the deployment and manipulation of resources (human,
financial, material, intellectual or intangible). Early
twentieth-century management writer Mary
Parker Follett defined management as "the art of
getting things done through people."
One
can also think of management functionally, as the action
of measuring a quantity on a regular basis and of adjusting
some initial plan,
and as the actions taken to reach one's intended goal.
This applies even in situations where planning does not
take place. From this perspective, there are five management
functions: Planning, Organising, Leading, Co-ordinating and Controlling.
Management
is also called "Business Administration", and schools that
teach management are usually called "Business
Schools". The term "management" may also be used to
describe the slate of managers of an organization, for
example of a corporation.
A governing body is a term used to describe a group formed
to manage an organisation, such as a sports league.
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