The study of management provides future business leaders with a sound working knowledge of policies, procedures and practices that govern business and social operations and, in turn, allows them to understand and control organizational growth. Management study includes an exploration of policies and practices as they relate to corporate growth. Academic studies of management also explore business development and introduce students to theories of leadership and management.
In many companies, managers fall into one of three categories: first-level, mid-level and top-level managers. Managers at the different levels possess different skill sets and knowledge, but they must all understand how businesses operate on a short-term and long-term basis. Managers generally study communication processes, and in turn use those skills to communicate effectively with their co-workers who work beneath and above them. They also use their knowledge of communication to foster a sense of equality among workers with different personalities, and identify the most effective methods of communication to stimulate employee productivity. Managers also undertake studies in employee relations, and ultimately learn valuable information on how business function most effectively at the microlevel and macrolevel on a short-term and long-term basis. Studying management also prepares people for leadership positions, and teaches skills that are equally valuable across many different lines of work.