Management

Corporate governance referred to in business two-fold: on the one hand the group of people who directs a company (synonym: ' management ' or management); on the other hand the process of ' driving a company ' ( a nominalization of the verb 'to lead '). ' Corporate governance ' can be interpreted institutionally, functionally and procedurally.

The concept of leadership is found in numerous studies. In the social sciences this term planning, coordinating and controlling activities in groups and organizations ( engl. leadership ). An important part of the field of leadership is the leadership. The concept of the line is used mostly interchangeably, but often refers to the disposition of things.

Leadership can be defined as the direct and indirect influencing of behavior for the realization of goals that are derived from high-level objectives of an organization of the company and the expectations of stakeholders. The direct influence is carried out by the personal relationship between leaders and followers; Structures such as incentives, planning and performance measurement systems can exert an indirect influence on behavior.

Tasks of management

Typical main management tasks that include:

• Strategic corporate planning; Establishing long -term conceptual framework for the strategic business
• The design, implementation and maintenance of essential high-performance system structures, such as planning system, control system, organization system

Subject of the doctrine of corporate governance (see management theory ) is the design of organizations within the meaning of purposive social systems.

Management of companies in the institutional sense means the Board, the person or group who is legitimized to lead the organization during the term corporate governance in the functional sense of the related tasks is (eg, strategic planning, organizational design ). In procedural sense corporate governance can be viewed as a set of management processes such as development of objectives and controlling the achievement of objectives.

Corporate governance - in procedural, functional, as in the institutional sense - has to do with effectiveness, systematization, professionalization, goal-oriented control, efficient and economic action. Task of a manager is the planning, implementation, monitoring and control of measures for the benefit of the purpose of the organization or the company and all those involved ( stakeholders Stakeholders = ) using the operational resources available to it.

From the perspective of social psychology, the concept of corporate governance always includes three aspects: group, target and influence ( Bryman, 1992). After that leadership is the goal -related influence on others ( Rosenstiel, 1988). The psychology distinguishes between two types of leadership: leadership by structures or leadership through people. The terms leadership and management are often used interchangeably, but increasingly used to define tool-based or - dominated administration ( management) of the leadership of people.

The legal and other regulatory framework of corporate governance are set out in the Corporate Governance.

As a general planning periods, the short-term, medium-term or long-term corporate planning can be distinguished: The short-term planning will be one year or less, medium-term planning refers generally to a period of one to five years, long-term plan covers a period of more than five years.

Strategic leadership is aligned tend to long term, and can only have the rough overall planning of the company to the content because of a relatively large uncertainty of the available information. It represents the link between the parent company's philosophy and the non-strategic leadership

While the target of the strategic management of the build up new potentials and the preservation of existing is, the immediate result is achieve using the existing success factors and implementation of the defined business strategy at the core of non-strategic business management. With her ​​short-term establishment of programs, activities and resources needed for the different areas in detail is done. The associated therewith increase the accuracy of the information available leads to a stronger differentiation of the plans made ​​.

Environment-oriented approach

After Macharzina and Wolf questions of the environment and environmental protection are increasingly the focus of attention. In many people, the now recognized that the natural resources are endangered by sticking to the old rationalization and action patterns. In this connection the importance of economic activities for the destruction of ecological systems is discussed.

Therefore, the environment of the company is with its various manifestations for the management of particular importance:

The conflict between economy and ecology seems not completely resolved from the outset. However, there is certainly the chance to defuse this conflict by a conscious ecology -oriented management. The operating economies have recognized the importance of ecology and related environmental -oriented goals in their overall objective one.

But Traditional considerations focus on the inner workings of companies, such as the optimum combination of factors of production to maximize profit. Accordingly, the constitutive conditions are optimizing considered without looking at the social relevance.

In recent discussions of corporate policy distinguishes between two predominant polarities that are linked to the identification of strategic business objectives.

Value -oriented approach

The value-oriented corporate management has become a key concept of modern enterprise management. It represents the interests of the investors in the foreground and concentrates as shareholder-value approach to the inventory and ensuring survival of the enterprise.

The exploitation of this approach of corporate governance include:

• The stakeholder approach is focused on the interests of the stakeholders of the company, that is to, for example, employees, customers, suppliers, banks, the state, and thus aims at providing long -term corporate policy.

The term stakeholder characterizes the people or groups who have claims or to intervene in the company and are therefore to be considered relevant. The company's policy is thus particularly on identifying and creating new potential for success, according to this approach is referred to as a development-oriented or progressive corporate policy.

• The Balanced Scorecard approach goes back to Robert S. Kaplan and David P. Norton, the a management system with strategic metrics to guide name with this term (balanced = prepare accounts or scorecard result = map). The scorecard provides a framework for discussion with their indicators and a language that tries to convey a value-oriented corporate strategy.

Social -oriented approach

The company's management is determined in target and path to a great extent by the given society and its economic order. Set the framework within which a company can operate. In addition, the social and behavioral sciences management theory can provide a valuable theory basis. Discussions about the meaning and purpose of the value-oriented corporate management also hold the socially -driven approach of Konrad Mellerowicz for still relevant and timely.

In his view, the task of management is not to map, to achieve high efficiency and productivity, but also to pay attention to the realization of humanity. When searching for a target compromise the company management should consider further consequences for the company and the people working in his people:

• If human targets ignored by the management, the employees ( and possibly also the company's customers ) can react dissatisfied and show their displeasure. Injustices in the public lead to unrest.

• If human goals are sought unilaterally to the detriment of economic target compliance, decreases the efficiency because the cost burden on the company is no longer viable. With declining income or losses of the existence of a company is at risk, which in turn will have a negative impact on employment of the employee.

The company management should always carefully consider which are associated with their decisions advantages and disadvantages.

Eben -oriented approach

Traditionally form the management levels a significant approach of corporate governance or management. Here, a guide layer is a structural feature that embodies a level of total operating organizational structure. In theory and in practice, the levels of the top, middle and lower management are considered essential management levels. In the German economic literature can be distinguished:

• The normative, strategic and operational management level according to Bleicher, Dillerup / Stoi, Hungenberg / Wulf. The normative level as a design framework of corporate governance is decoupled in terms of the overall goals, values ​​and norms of the strategic level. The support of the operational management level implement the guidelines of the levels mentioned in the reality. This tripartite division of management is part of the St. Gallen Management Model.

• The strategic, tactical and operational management level according to Bamberger / Wrona Knöll / Schulz- Sakharov / Zimpel, Olfert / Pischulti, Rahn, Wild and pottery. The strategic management is carried out by top management ( by the entrepreneur or business executive, for example ), which define the standards and strategies for the company.

The special significance of the tactical level (eg Middle Management: Department Head ) is the indispensable bond between strategic and operational level. The Lower Management in the latter management level ( eg, group leader, master ) has the task of implementing the objectives and plans of the higher levels into concrete actions.

In the English literature only distinguishes between two levels of management, strategic and operational levels.

Others

One of the tasks of management, it also belongs to anticipate important future events. For example, it is recommended to timely succession planning for the event that a member of the management wants or needs to resign (eg retirement). A special case of succession planning is often in family businesses. There is often a company owner (for example, the company founder ) managing partner. Here it is advisable to take precautions in the event that he dies like to make ( enough liquidity for inheritance tax, for example ) or duties to a younger generation ( " generation ").