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ETS Business Major Field Test: Management

Dictionaries/Glossaries

Definition

1.  Managing is the employment of human, physical and financial resources to achieve organizational goals.  Managers are the people who conduct this process.

2. Managing differs from the work of the individual contributor because results are achieved through coordinating the work of other people.

3. Managers are accountable for the work of their group.

4.  Managers exist at different levels to form a hierarchy within the company.  Thus there are first line managers, middle managers, and top managers.

Functions of Managers

1. Planning

2. Organizing and staffing

3. Leading and motivating the Organization

4. Coordinating Employees by communicating objectives, plans and results

5. Measuring, integrating, and controlling the work of employees and their organization as a whole