What is Management?

Management is an area of ​​the humanities that is dedicated to the administration of companies and other institutions with the aim of making them achieve their objectives effectively, efficiently and efficiently.

The management concept is directly related to the administration of the resources available in the organization. These resources can be both material and financial as well as human, technological or informational.

The role of a manager is to make the most of structures, technologies, capital and people to achieve the organization’s objectives in the short, medium and long term. For this, the management concept is based on four pillars:  planning, organization, leadership and control.

The definition of the objectives to be achieved, the planning of the necessary steps to achieve them and the diagnosis and resolution of the problems that arise along the way are some of the management tasks. Another concern of the administration is to improve the processes adopted by the corporation, making use of a permanent learning effort and the search for innovation.

The administrative structure of an organization is made up of its financial, commercial, logistical, social and technological systems, among others. Management makes use, therefore, not only of knowledge of management techniques themselves, but also of contributions from other disciplines, such as economics, law, accounting, and psychology.

Management areas

Business management can be divided into several areas, depending on their functions and specialization. Among them we can mention:

  • People management or human resource management.
  • Financial management
  • Projects management
  • Process management
  • Commercial administration
  • Quality management
  • Information technology management
  • Inventory management

Although the words “management” and “management” refer directly to the business world, these concepts are not limited to companies. They can be applied to all organizations that bring together people and resources to achieve a goal, such as non-profit organizations and public bodies.

New management models.

Recent changes in society have promoted the appearance of new management models, which seek to adapt organizations to new times.

One of these models is  strategic management  , which presupposes constant work to diagnose the opportunities, threats, strengths and weaknesses of the corporation.

By crossing these variables, strategic management aims to adapt the company to its market, identifying opportunities and focusing on the future. The model is based on a more organized and rational planning, which seeks to reduce uncertainties to achieve better results.

Another trend observed today is  participatory management  . Instead of adopting authoritarianism and rigidity, participatory management focuses on the people who are part of the corporation, seeking to give them more voice and space in decision-making.

At the same time, in participatory management, each employee must be aware of their individual responsibility to achieve results, which requires a greater commitment to the performance of the organization.