Lease Exposure Draft

In: Business and Management

Submitted By tyronebubba
Words 3719
Pages 15
Etymology
The verb manage comes from the Italian maneggiare (to handle, especially tools), which derives from the Latin word manus (hand). The French word mesnagement (later ménagement) influenced the development in meaning of the English word management in the 17th and 18th centuries.[1]
Definitions
Views on the definition and scope of management include: * Management defined as the organization and coordination of the activities of an enterprise in accordance with certain policies and in achievement of clearly defined objectives * Fredmund Malik defines as Management is the transformation of resources into utility. * Management included as one of the factors of production - along with machines, materials and money * Peter Drucker (1909–2005) sees the basic task of a management as twofold: marketing and innovation. Nevertheless, innovation is also linked to marketing (product innovation is a central strategic marketing issue). Peter Drucker identifies marketing as a key essence for business success, but management and marketing are generally understood[by whom?] as two different branches of business administration knowledge. * Directors and managers should have the authority and responsibility to make decisions to direct an enterprise when given the authority[citation needed] * As a discipline, management comprises the interlocking functions of formulating corporate policy and organizing, planning, controlling, and directing a firm's resources to achieve a 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 that the chief executive officer implements.[2]
Theoretical scope
Management involves the manipulation of the human capital of an enterprise to contribute to the…...

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