Organizational management (sometimes spelled management) is the administration of an organization, whether it is a for-profit corporation, a non-profit organisation, or a government agency. It is the art and science of effectively managing the resources of a company.
Incorporated into management are the activities of formulating an organization's strategy and coordinating the efforts of its employees (or volunteers) in order to achieve its goals through the application of available resources, such as financial and other financial, natural, technological, and human resources. Trend: The terms "run a business" and "change a business" are two ideas used in management to distinguish between the continuation of products or services and the adaption of goods or services to satisfy the changing demands of consumers - see definition. The word "management" may also refer to the individuals who are in charge of running an organisation, such as managers.
In colleges and universities, some students pursue managerial degrees. These include the Bachelor of Commerce degree, the Bachelor of Business Administration degree, the Master of Business Administration degree, the Master of Management degree, the Master of Science in Management degree, and the Master of Public Administration degree, which is particularly useful in the public sector. Individuals wishing to pursue careers as management specialists or experts, management researchers, or management instructors may pursue the Doctor of Management (DM), the Doctor of Business Administration (DBA), or the Ph.D. in Business Administration or Management degrees, among others. Over the last several decades, there has been a shift toward evidence-based practise in health care.