Is management a vague term

Management a group of people who are divided into managers who oversee different area of a company. I think management is a vague term by definition alone. Management has different levels. It can include a team leader and section supervisors all the way up to regional managers or even the CFO or CEO. Each level requires different skills. The team leader has to be able to balance the happiness of their team, the customer, and their boss. The higher level managers don't deal with the workers as much. They deal with more of the paper work end, legal stuff, and decision making. To make things more complicated, each person has their own style of managing.