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.

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Security

Security is freedom from, or resilience against, potential harm (or other unwanted coercive change) from external forces. Beneficiaries (technically referents) of security may be persons and social groups, objects and institutions, ecosystems, and any other entity or phenomenon vulnerable to unwanted change by its environment.

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Security

[T]he production of security should, in the interests of the consumers of this intangible commodity, remain subject to the law of free competition. … [N]o government should have the right to prevent another government from going into competition with it, or to require consumers of security to come exclusively to it for this commodity.

Gustave de Molinari, tr. J. Huston McCulloch, §II of The Production of Security (Auburn, AL: Ludwig von Mises Institute, 2009; orig. 1849), pp. 22–23.

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Security

This option the consumer retains of being able to buy security wherever he pleases brings about a constant emulation among all the producers, each producer striving to maintain or augment his clientele with the attraction of cheapness or of faster, more complete and better justice.If, on the contrary, the consumer is not free to buy security wherever he pleases, you forthwith see open up a large profession dedicated to arbitrariness and bad management. Justice becomes slow and costly, the police vexatious, individual liberty is no longer respected, the price of security is abusively inflated and inequitably apportioned, according to the power and influence of this or that class of consumers. The protectors engage in bitter struggles to wrest customers from one another. In a word, all the abuses inherent in monopoly or in communism crop up.

Gustave de Molinari, tr. J. Huston McCulloch, §X of The Production of Security (Auburn, AL: Ludwig von Mises Institute, 2009; orig. 1849), pp. 57–59.

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Management

In the long-run the workman may be as necessary to his master as his master is to him, but the necessity is not so immediate.

Adam Smith (1776) The Wealth of Nations Chapter VIII, p. 80

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