Ostrava, Czech Republic

Economics and Management

Ekonomika a management

Language: Czech Studies in Czech
Subject area: economy and administration
University website: www.vsb.cz
Years of study: 4
Economics
Economics () is the social science that studies the production, distribution, and consumption of goods and services.
Management
Management (or managing) is the administration of an organization, whether it is a business, a not-for-profit organization, or government body. Management includes the activities of setting the strategy of an organization and coordinating the efforts of its employees (or of volunteers) to accomplish its objectives through the application of available resources, such as financial, natural, technological, and human resources. The term "management" may also refer to those people who manage an organization.
Management
Management of many is the same as management of few. It is a matter of organization.
Sun Tzu (c. 6th century BC) The Art of War
Management
The worker is not the problem. The problem is at the top! Management!
W. Edwards Deming (1993, p. 54) cited in: Melanie M. Minarik (2008) Building Knowledge Through Sensemaking. p. 13
Economics
In my youth it was said that what was too silly to be said may be sung. In modern economics it may be put into mathematics.
Ronald Coase, The firm, the market and the law (1988) Chapter 6. A remark on "The problem of social cost" (last sentence).
Golf courses are often criticised for using excessive amounts of water, particularly in drier regions such as southern Europe. A newly developed system addresses this issue, using a network of sensors and an intelligent control unit to manage water usage and reduce consumption by a third.
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