In a work setting, managerment is the process of managing one's manager, rather than doing one's job. Normally implies that a manager is incompetent or otherwise unable to fulfill their tasks, (i.e. is prone to panicked outburst that require employees to calm them or otherwise do their job for them).
My manager is so incompetent, I spend more time working on managerment than I do on my job!"
by Doktor_J April 08, 2011