Management as a group refers to all those persons who perform the task of managing an enterprise. When we say that management of XYZ Ltd Co. is good, we are referring to a group of people those who are managing. Thus as a group technically speaking, management will include all managers from chief executive to the first – line managers (lower-level managers).
Management as a group may be looked upon in 2 different ways:
- All managers taken together
- Only the top management
The interpretation depends upon the context in which these terms are used. Broadly speaking, there are 3 types of managers –
Patrimonial / Family Manager
These are those who have become managers by virtue of their being owners or relatives of the owners of company.
These are those who have been appointed on account of their specialized knowledge and degree.
Political Managers / Civil Servants
These are those who manage public sector undertakings.
Managers have become a part of elite group of society as they enjoy higher standard of living in the society.