Management Concepts and Theories

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Management

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The process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources.

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Manager

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An individual who is in charge of a certain group of tasks, or a certain area or department of a business.

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Chief Executive Officer (CEO)

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The highest-ranking executive in a company, responsible for major corporate decisions, managing overall operations, and company resources.

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Planning

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Anticipating trends and determining the best strategies and tactics to achieve organizational goals.

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Organizing

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Designing the structure of the organization and creating systems in which everyone and everything work together to achieve goals.

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Leading

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Creating a vision for the organization and motivating others to work effectively to achieve goals.

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Controlling

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Establishing clear standards, appraising performance, rewarding success, and correcting failures.

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Director

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A board member who helps determine and implement company policy and reports to the CEO.

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Supervisor

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Oversees the work of others, leads and controls a team toward preset goals, but usually does not make decisions.

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Motivation

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Factors that influence the behavior of workers toward achieving business goals; can include monetary and non-monetary rewards.