management

Vocabulary Word

Definition

Management is the process of directing and controlling a group or resources to achieve goals. It can get likened to a movie director guiding the actors and crew to create a successful film.

Examples in Different Contexts

In project management, 'management' involves the planning, executing, and closing of projects to meet specific goals and criteria. A project manager might explain, 'Successful project management requires clear communication, risk management, and stakeholder engagement.'

Practice Scenarios

Academic

Scenario:

Enrollment has increased significantly this year. Perhaps we should look at better managing our facilities and teaching resources?

Response:

Yes, improved facilities management could create a smoother experience for both students and staff.

Business

Scenario:

Our profitability has been decreasing for the last three quarters, we certainly need to reassess how we're leveraging our resources.

Response:

I agree, but perhaps better management of our supply chain could also boost our profits.