management

management
1. The process of directing, controlling, and *planning in an organization. The main elements of management are commonly thought to include (i) *planning, (ii) organizing, (iii) leading, (iv) employing, and (v) coordinating. Although much management theory is disputed - it has been suggested that "management is too unsystematic to make it a science and its knowledge base is too uncertain to call it a profession" (Sawyer and Vinten, 1996,18) - the "father" of modern management theory is often held to be Henri Fayol (1841-1925), whose Administration Industrielle and Generate appeared in 1916. 2. In an organization, a group of individuals that collectively directs, controls, and makes plans.

Auditor's dictionary. 2014.

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