Management Definition

Management Definition

See Also:
Activity Based Management (ABM)
Warning Signs Of A Company In Trouble
Budgeting 101: Creating Successful Budgets
Planning Your Exit Strategy
Outsource Definition

Management Definition

What is Management? The management definition is a single or group of individuals who challenges and oversees a person or collective group of people in efforts to accomplish desired goals and objectives. Furthermore, the definition of management includes the ability to plan, organize, monitor and direct individuals. The management definition is also a person or collective group who possess the executive abilities to lead a group through hardships, aspiring to meet an organization’s purpose and visions.

Management Functions

With an understanding of what is management, there are several management functions and roles that are needed in the management function of planning for an organization’s success. Management function examples include the following:

Organizations must identify the viable management functions organizing for growth and future success. They should also develop a business management structure to separate different management functions and roles; however in smaller companies, individuals may often take on multiple management functions. In comparison, larger firms will segregate different job management functions leading for organized management functions and skills.

Business Management

Organizational best practices are the business management description guidelines frequently outlined in standard company policies and procedures. Furthermore, a business manager reinforces these aids to ensure specific job functions are carried out in a preferred business approach. Organizations may hire a business manager for one or multiple functional areas to provide specific industry or product knowledge and have overall responsibility for business operations. Business manager responsibilities may include supervising an entire company, division, or territory to generate the highest revenue return from business activities.
In addition, some of the business manager’s duties include the following:

  • Managing a team
  • Providing industry or product expertise
  • Meeting desired performance measures

If you want to learn more financial leadership skills, then download the free 7 Habits of Highly Effective CFOs.
Management Definition

Strategic CFO Lab Member Extra
Access your Flash Report Execution Plan in SCFO Lab.
Click here to access your Execution Plan. Not a Lab Member?
Click here to learn more about SCFO Labs

Management Definition
Strategic CFO company logo with slogan.

Transform your finance operations with NearSourcing™ Accounting Solutions

and see the benefits firsthand with a
FREE Consultation Session.

Share This Article
Top Articles


Financial Leadership Workshop


August 7-10th, 2023

Innovative CFO logo, "Creating Success Through Financial Leadership" slogan.

Empower your business with NearSourcing™ Accounting Solutions

and take advantage of expert financial strategies at reduced costs

Related Blogs
Scroll to Top
WIKICFO® - Browse hundreds of articles
Skip to content