Major functional area of Management

Category: Bank
Posted on: Monday, September 18, 2017

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An acceptable and practical classification includes four broad functional areas :-

(i) Production : This area is normally kept under the control of a production manager who is responsible for the performance of entire related activities.

This area may further be classified into major sub-activities :-

  • Purchasing
  • Material Management
  • Research and Development

 (ii) Marketing : This area involves the distribution of organisation’s product to the buyers. This can be divided into following subareas :-

  • Advertising
  • Marketing Research
  • Sales Management

(iii) Finance and Accounting : This area deals with the record keeping of various transactions and management of financial resources :-

  • Financial Accounting
  • Management Accounting
  • Costing
  • Investment Management
  • Taxation

 (iv) Personnel : This aspect deals with the management of human beings in the organisation. It includes following areas :-

  • Recruitment and Selection
  • Training and Development
  • Wage and Salary Administration
  • Industrial Relations