管理(guǎn lǐ) - to manage, to administer, to run; management in Mandarin

管理 (guǎn lǐ) is the formal word for running something: a company, a department, a database, a block of flats. It works as a verb with a direct object and as a noun without changing shape, so 管理公司 (guǎn lǐ gōng sī) is to manage a company and 公司的管理 (gōng sī de guǎn lǐ) is the company's management.

Both syllables are third tone, which triggers tone sandhi: the first shifts to second, so it comes out as guán lǐ. Written pinyin keeps the underlying third tones, which is why the page shows guǎn lǐ. Say it the sandhi way.

The single character 管 (guǎn) on its own is much more informal and often means to bother with or to interfere: 别管我 (bié guǎn wǒ), leave me alone; 我管不了 (wǒ guǎn bù liǎo), I cannot do anything about it. Swapping the compound for the bare character in a work context will make you sound blunt.