Business Definition Series – management

The next notion of Business Definition Series is management. (And I promise the following will not be Hungary.) Management is something what seems to be easy to definy but there are plenty of fields where we use it. Just like business-, project-, knowledge-, talent- or time management. But leaving the strictly business field for a second, we can meet life-, healthcare-, stress- or self-management.

Sticking with the business field we are going to examine management from a firm’s point of view. After all this is our primary focus. Many times management is used along with something like I mentioned above e.g. business management. But, first of all it is the collective noun of the decision makers.


I have read somewhere that management (of a firm) is: all the people together who has the power and who has responsibility of making decisions and supervising an enterprise. Also, it is often included as a factor of production.

Primary tasks of the management are operation, marketing-sales and innovation. Management consists of the interlocking functions of creating company policy about organizing, planning, controlling, and directing an organization’s resources in order to achieve the objectives of that policy. (by Thomas More)

The size may be whether from one person or to thousands of managers depending on talking about a small company or a multinational enterprise.

Regardless of the size of the company, in practice usually the board of the owners makes decisions or policy which is after carried out by the chief executive officer.
The quality and the experience of a management might definy the present and future worth of the firm.

Several kinds of (business) management exists: financial, HR, marketing, project, information, crisis, risk, etc. All would deserve a single topic.

And now, before the quote of the day, an other quote what I do not agree.


Really, management would be just this? I mean it’s important, but really? If I motivate you that will bring solution to all of the challebnges in the accountancy? That will bring more candidates to the position? And good ones? Motivation is essential but not sufficient condition of keeping deadlines. So I think management is much mroe complicated and deeper than just motivating people.

Thanks for reading and enjoy the quote of the day:

Good management is the art of making problems so interesting and their solutions so constructive that everyone wants to get to work and deal with them.

(Paul Hawken)



Business Management Hungary


published on LinkedIn 22/09/2015 by Business Management Hungary