While management is a term broadly used in everyday language for the systematic handling of various things and issues, in this book it is used for the management of organizations. As such, it refers either to the act of managing (functional sense) or to managers, i.e. those who practice it (institutional sense). In this chapter, many established definitions of management are analyzed. Six definitory cornerstones are laid out and integrated into a new definition of management which is described as being a deliberate steering influence on market, production, and/or resource operations in an organization or an organizational unit which is exerted by multiple organizational actors through either anticipatory norm-setting (= constitutive or strategic management) or situational intervention (= operational management) with the aim of achieving organizational objectives in terms of work results, costs, or other requirements.