Management
Management
Term for function and structure
The original Anglo-American term management originates from business administration. On the one hand, it describes the activity of managing a company, and on the other hand, it represents the managing body, i.e., the group of people in charge of a company as Management. The term refers to both an institution and a function in non-profit, public, or private sector organizations.
Etymological derivations of Management
Etymologically, the term can be derived from the Latin term for hand (manus) or laying on of hands (manu agere). More recent derivations see a connection to the Italian verb maneggiare for “to lead by the hand” or “to lead a horse in the ring,” from which the English verb to manage is said to have derived. Another theory is that it is derived from the Latin term mansionem agere (to housekeep or to order the house (for the owner)).
Peter Drucker is considered to be the actual founder of management theory. He first examined the Organization and Management of a large industrial company and compared its management system with the federal structure of the USA. Then, Drucker developed the terminology for describing coordination systems of decentralized decision-making and leadership coordination systems and formed the basis for the first systematic management theory that excluded operational factual tasks and focused exclusively on leadership tasks.
