Management
as a group refers to all those persons who perform the task of managing
an enterprise. When we say that management of ABC & Co. is good, we
are referring to a group of people those who are managing. Thus as a
group technically speaking, management will include all managers from
chief executive to the first - line managers (lower-level managers). But
in common practice management includes only top management i.e. Chief
Executive, Chairman, General Manager, Board of Directors etc. In other
words
, those who are concerned with making important decisions, these
persons enjoy the authorities to use resources to accomplish
organizational objectives & also responsibility to for their
efficient utilization.
Management as a group may be looked upon in 2 different ways:
- All managers taken together.
- Only the top management
The interpretation depends upon the context in which these terms are used. Broadly speaking, there are 3 types of managers -
- Patrimonial / Family Manager: Those who have become managers by virtue of their being owners or relatives of the owners of company.
- Professional Managers: Those who have been appointed on account of their specialized knowledge and degree.
- Political Managers / Civil Servants: Those who manage public sector undertakings.
Managers have become a part of elite group of society as they enjoy higher standard of living in the society.
