Management face accepting concessions being rejected (8)
I believe the answer is:
disposal
'management' is the definition.
(I know that disposal is a type of management)
'face accepting concessions being rejected' is the wordplay.
'face' becomes 'dial' (face of a clock).
'accepting' means one lot of letters goes inside another.
'concessions' becomes 'sops' (sop is a kind of concession).
'being rejected' shows that the letters should be reversed in order.
'sops' reversed gives 'spos'.
'dial' placed around 'spos' is 'DISPOSAL'.
(Other definitions for disposal that I've seen before include "arrangement" , "Availability for use" , "Scrapping" , "Out of control," , "Jettisoning" .)