Management is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources and natural resources. Since organizations can be viewed as systems, management can also be defined as human action, including design, to facilitate the production of useful outcomes from a system. This view opens the opportunity to manage oneself, a pre-requisite to attempting to manage others. The verb manage comes from the Italian maneggiare (to handle, train, control horses), which in turn derives from the Latin manus (hand). The French word mesnagement (later ménagement) influenced the development in meaning of the English word management in the 15th and 16th centuries. Some definitions of management are: At first, one views management functionally, such as measuring quantity, adjusting plans, meeting
Choice-modeling software predicts customer preferences for retailers
U.S. retail chains often rely on intuition in choosing which products, from a vast inventory, will sell best at stores across the nation. Now MIT spinout Celect is refining this process with novel data analytics, revealing ...
Study examines 'joiners' who help make startups successful
A growing interest in the startup culture has focused attention on company founders who often take great risks to launch new ventures. But what about the people who join these founders to help them develop and commercialize ...
Researchers find everyone has a bias blind spot
It has been well established that people have a "bias blind spot," meaning that they are less likely to detect bias in themselves than others. However, how blind we are to our own actual degree of bias, and how many of us ...
Do government technology investments pay off?
Studies confirm that IT investments in companies improve productivity and efficiency. University of Michigan professor M.S. Krishnan wondered if the same was true for government.
New paper examines household production and asset prices
A new paper by Zhi Da, Viola D. Hank Associate Professor of Finance at the University of Notre Dame, find that residential electricity usage can track household production in real time and helps to price assets.
Content creators leave social networks when messaging gets too easy
It's not much harder or more expensive to send a tweet or a Facebook post to hundreds or even thousands of people than to just a handful. So you'd think that the ease of communicating with lots of people via social networks ...
Study shows banks that have good working relationships with their customers reduce loan defaults
You've probably seen advertising campaigns in which banks describe how much their customer relationships matter to them. While such messaging might have been cooked up at an ad agency, it turns out there is some truth underlying ...
Corporate philanthropy increases workers' productivity
Working to benefit a good cause increases productivity by up to 30 per cent, according to the findings of a new study from the University of Southampton.
'Moral victories' might spare you from losing again
It's human nature to hate losing. Unfortunately, it's also human nature to overreact to a loss, potentially abandoning a solid strategy and thus increasing your chances of losing the next time around.
How the 'Matthew Effect' helps some scientific papers gain popularity
Do scientific papers written by well-known scholars get more attention than they otherwise would receive because of their authors' high profiles?