This paper analyzes the evolution of management thoughts and frameworks, and proposes a new framework. As the development of globalization, informatization, ethics and knowledge economics, it becomes essentially necessary to change and rebuild the framework of Management. The new framework should transfer from efficiencyorientation to innovationorientation, from innerorganization to interorganization, and from management and control to leadership and democracy. Meanwhile, it should balance the financial performance and ethics. Therefore, we propose a new framework with four functions: leadership and plan, organization operation and innovation, resource and capability, and governance and control.