1. The running of an organization or part of it. Management has two main components: an organizational skill, including the ability to dele gate, and an entrepreneurial sense. The organizational skill, involving the principles and techniques of management. is taught at colleges and business schools; the entrepreneurial sense, recognizing and making use of opportunities, predicting market needs and trends, and achieving one’s goals by sustained drive, skillful negotiation, and articulate advocacy, are not so easily taught. However, contact with the marketplace in association with a successful entrepreneur will encourage an inherent ability to develop. Top management includes the *chief executive (see also MANAGING DIRECTOR) of an organization, his deputy or deputies, the board of *directors, and the managers in charge of the divisions or departments of the organization. Middle management consists largely of the managers to whom top management delegates the day-to-day running of the organization. Management is usually broken down into the categories formalized in *line and staff management: the line managers organize the production of the goods or oversee the services provided by the organization, while the staff management provides such support as personnel management, transport management, service management, etc. See also INSTITUTE Of MANAGEMENT.
2. The people involved in the running of an organization.
