Inspired by Koselleck’s approach to conceptual history, this essay presents a semantic analysis of management. Our inquiry into what management is, focuses on lingual and cognitive wholes of meaning and signification. The essay undertakes a periodization of management history, in an attempt to formulate expectations for a dystopian future management by artificial intelligence. Five periods are distinguished. Each period entails a specific characterisation for three questions: what is the activity of managing, what or who is managed, and who manages? Starting (...) from managing-by-hand, successive differentiation of meaning occurs with regard to different elements of the management relationship (object, activity, agent), followed by a rescaling of the whole relationship into an attitude that can be applied anywhere by anyone. The implication is a dissociation between manager and decision-maker. The essay also speculates how plausible this evolution makes non-human managers (i.e. artificial intelligence). Throughout these five periods, hierarchy is an immanent feature of management. For each period, the essay discusses differentiated meaning, corresponding social reality and characterizes its hierarchy and justification. (shrink)