management-n; 2 Senses

Sense Number 1: overseeing or directing

Commentary: MANAGEMENT[+event] Refers to the act of managing something.

He was given overall management of the program.
I'm a specialist in risk management.
The economy crashed because of poor management.

PropBank: management.01
WordNet 2.0 Sense Numbers: 1

Sense Number 2: the people in charge

Commentary: The ones actually doing the managing, as a collective or an abstract position.

Management wants to start downsizing.
John was promoted to Management.
I spoke to their management, and they're ready to make a deal.
Poor Dilbert is always foiled by his company's middle management.

PropBank: NM
WordNet 2.0 Sense Numbers: 2