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Simple English definitions for legal terms
management
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A quick definition of management:
Management: The group of people in charge of running a company. They make important decisions and plans for the company's future. There are different levels of management, including middle management who carry out the plans of top management, and top management who make big decisions and set long-term goals.
A more thorough explanation:
Definition: Management refers to the group of people in a company who are responsible for running it. There are different levels of management, including:
- Top management: The highest level of management in a company. They make important decisions about the company's future and long-term plans.
- Middle management: These are the people who manage the day-to-day operations of the company. They carry out the directives given by top management.
For example, the CEO, CFO, and other executives are part of top management. They make decisions about the company's overall strategy and direction. On the other hand, department managers and supervisors are part of middle management. They oversee the work of employees and ensure that the company's goals are being met.
Overall, management is responsible for making sure that a company is successful and profitable. They set goals, make plans, and oversee the work of employees to achieve those goals.