Module IX

A R EA S O F M A N A G EM EN T

MANAGEMENT

is

very encompassing function yet

it can be applied in specific areas to
make a business more effective and
efficient.

FIVE AREAS O F BU SIN ESS

Marketing Management
Financial Management
Production Management
Human Resources Management
Office Management

M arketing
The performance of the business activities that

direct the flow of goods and services from

producer to consumers or users for the latters
ultimate consumption.
It refers to all the activities involving the
processing, sale and physical distribution of goods
from the time they are produced, to the time they
are delivered to the ultimate consumers.
Also includes marketing research, transportation,
product packaging and the use of advertising and
credits as the means of satisfying consumer needs
and influencing consumer patronage.

M arketing M anagem ent

A business discipline which is

focused on the practical

application of
marketingtechniques and the
management of a firm's marketing
resources and activities.
It involves sharing of the
manufactured goods to the
buyers.

Generally concerned
with:
Analyzing marketing opportunities
Planning marketing programs
Formulating product strategies
Administration of marketing program

Sub areas ofM arketing

M anagem ent
1. Sales Management
2. Advertising
3. Market Research

M arketing M anagem ent Activities and

the M anagem ent Process

II.FinancialM anagem ent

Primarily concerned with investment

and decision making.

Managerial finance, a branch of finance
that concerns itself with the managerial
significance of finance techniques.
Corporate finance, a type of finance
dealing with monetary decisions that
business enterprises make and the
tools and analysis used to make these
decisions.

Sub areas ofFinancial

M anagem ent
1. Managementaccounting
2. Financialaccounting
3. Costing
4. Taxation

FinancialM anagem ent Activities and

the M anagem ent Process

III.PRO D U CTIO N
M AN AG EM EN T
Means

formation of
utilities by
converting raw objects into final
creation
by
different
scientific
methods and set of laws.

Covers production control, quality

control and wage incentives.

Functions ofProduction
Planning
Routing
Determines the operations to be performed

and their sequence.

Loading
Function of assigning work to a department in

advance.

Scheduling
Determines the time at which each operation

is to take place.

Functions ofProduction Control

Dispatching
Authorizes the actual start of operations.

Expediting
Monitors the execution of plans.

RESPO N SIBILITIES O F PRO D U CTIO N

M AN AG EM EN T

5Ms
MANPOWER
MACHINES
MEHODS
MATERIALS
MONEY

PRO D UCTIO N M AN AG EM EN T
ACTIVITIES AN D TH E M AN AG EM EN T
Planning
Organizing
Staffing
Controlling
PRO
CESS
DIRECTING
Scheduling
production.
Translating
forecast
demands.
Determining
optimum
amount of
inventory.
Determining
how many
shifts to
operate.
Make or buy
decisions for
certain parts
of finished

Forming
departments
or units
headed by
supervisors.
Forming
staff and
other
support
units.
Designing
plant layout
Organizing
quality
circles.

Recruitment
Hiring
Training
Promotions
Transfers
Job rotation
Apprentices
hip
Lay-off

Production
budget
Quality
control
Production
control
Monitoring
production
progress

IV.H um an Resource
M anagem ent
Themanagementof

anorganization's workforce,
orhuman resource.
It is responsible for
theattraction,selection,training,a
ssessment, andrewardingof
employees, while also overseeing
organizationalleadership
andculture, and ensuring
compliance withemployment and

 Personnel managers are concerned

with:
1. The administration of employee
benefits
2. The recruitment process which involves
conducting preliminary screening
interviews and tests for job openings
3. Performance evaluation of employees
4. Orientation of new employees
5. Maintenance of personnel records

H um an Resource M anagem ent

Activities and the M anagem ent

V.O f c
i
fe M anagem ent
Process

of planning, organizing,
staffing, directing, and controlling
office
activities
and
those
performing.

Essential in the attainment of the

organizations objective.