It characterizes the process of effective utilization of resources including staffs in an organization,
Men, Money, Material and Time, it also known as business administration.
The term management also used to refer a group of persons managing an organization
Steps in business management:
Planning
Organizing
Staffing
Directing
Controlling
Major categories of business management:
Human resource management
Operations or production management
Strategic management
Marketing management
Financial management
Information Technology management
Objects of management:
Change management
Communications management
Constraint Management
Cost management
Crisis management
Customer relationship management
Earned value management
Enterprise management
Facility management
Integration management
Knowledge management
Marketing management
Micromanagement
Pain management
Procurement management
Program management
Project management
Process management
Product management
Quality management
Resource management
Risk management
Scope management
Skills management
Spend management
Supply chain management
Systems management
Time management
Stress management
Change management
Change management is a systematic approach to dealing with change, both from the perspective of an organization and on the individual level. A somewhat ambiguous term, change management has at least three different aspects, including: adapting to change, controlling change, and effecting change. A proactive approach to dealing with change is at the core of all three aspects. For an organization, change management means defining and implementing procedures and/or technologies to deal with changes in the business environment and to profit from changing opportunities.
Communication management
Communications management is the systematic planning, implementing, monitoring, and revision of all the channels of communication within an organization, and between organizations; it also includes the organization and dissemination of new communication directives connected with an organization, network, or communications technology. Aspects of communications management include developing corporate communication strategies, designing internal and external communications directives, and managing the flow of information, including online communication. New technology forces constant innovation on the part of communications managers.
Constraint Management
Theory of Constraints (TOC) is an overall management philosophy that aims to continually achieve more of the goal of a system. If that system is a for-profit business, then the goal is to make more money, both now and in future. TOC consists of two primary collections of work: 1) The five focusing steps and their application to operations; 2) The Thinking Processes and their application to project management and human behavior.
According to TOC, every organization has - at any given point in time - one key constraint which limits the system's performance relative to its These constraints can be broadly classified as either an internal constraint or a market constraint. In order to manage the performance of the system, the constraint must be identified and managed correctly (according to the Five Focusing Steps below). Over time the constraint may change (e.g., because the previous constraint was managed successfully, or because of a changing environment) and the analysis starts anew.