CORPORATE

MANAGEMENT AND
COMMUNICATION :2
MANAGEMENT
Management is the process of achieving goals
and objectives effectively and efficiently through
and with the people.
Management is a process of designing and
maintaining an environment in which individuals
work together in groups to effectively and
efficiently accomplish selected aims.

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 SCOPES OF MANAGEMENT
Financial Management: Financial management includes forecasting, cost control,
management accounting, budgetary control, statistical control, financial
planning etc.
+ (a) estimating the volume of funds required for both long-term and short-term needs
of business
+ (b) selecting the appropriate source of funds
+ (c) raising the required funds at the right time
+ (d) ensuring proper utilisation and allocation of raised funds so as to maintain safety
and liquidity of funds and the creditworthiness and profitability of business,
+ (e) administration of earnings Thus, financial management involves the planning,
organising and controlling of the financial resources.

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SCOPES OF MANAGEMENT
Marketing Management: Marketing management deals with marketing of goods,
sales promotion, advertisement and publicity, channels of distribution,
market research etc.
+ (a) marketing research to determine the needs and expectation of consumers
+ (b) planning and developing suitable products
+ (c) setting appropriate prices
+ (d) selecting the right channel of distribution, and
+ (e) promotional activities like advertising and salesmanship to communicate with
the customers.

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SCOPES OF MANAGEMENT
Human Resource Management: It covers the various aspects relating to the
employees of the organization such as recruitment, training, transfers,
promotions, retirement, terminations, remuneration, labour welfare and
social security, industrial relations etc.
+ (a) manpower planning
+ (b) recruitments,
+ (c) selection,
+ (d) training
+ (e) appraisal,
+ (f) promotions and transfers,
+ (g) compensation,
+ (h) employee welfare services, and
+ (i) personnel records and research, etc
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SCOPES OF MANAGEMENT
Production Management: Production management aims to produce the right
goods, in right quantity, at the right time and at the right cost.
+ designing the product
+ (b) location and layout of plant and building
+ (c) planning and control of factory operations
+ (d) operation of purchase and storage of materials
+ (e) repairs and maintenance
+ (f) inventory cost and quality control
+ (g) research and development etc

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SCOPES OF MANAGEMENT
+ Material Management: Material management includes purchase of materials,
issue of materials, storage of materials, maintenance of records, materials
control etc.
+ Purchasing Management: Purchasing management includes inviting tenders
for raw materials, placing orders, entering into contracts etc.
+ Maintenance Management: Maintenance Management relates to the proper
care and maintenance of the buildings, plant and machinery etc.
+ Office Management: Office management is concerned with office layout,
office staffing and equipment of the office.

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FUNCTIONS OF MANAGEMENT
According to Henry Fayol, “To manage
is to forecast and plan, to organize, to
command, & to control”.

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FUNCTIONS
+ Directing: Direction is that aspect of management which deals with influencing,
guiding, supervising and motivating sub-ordinates for the achievement of
organizational goals.
+ Staffing:It is the function of manning the organization structure. The main
purpose of staffing is to put right man on right job.
+ Controlling:It implies measurement of accomplishments against the standards
and correction of deviation if any. The purpose of controlling is to ensure that
everything occurs in conformities with the standards.

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PLANNING: It deals with deciding in advance the most appropriate course of actions
for achievement of pre-determined goals.

i) Forecasting is looking ahead to anticipate the opportunity, problems and conditions

in a future period of time.
ii) Establishing objectives means setting the end results to be accomplished by
directing organizational efforts.
iii) Programming is establishing the sequence and priority of actions to be followed in
the attainment of the objectives.
iv) Scheduling is deciding on time sequence for programme steps.
v) Budgeting is allocation of resources to minimise costs.
vi) Establishing procedures means developing and applying standardised methods of
performing a specific work.
vii) Developing policies involve establishment and interpretation of standing decisions
that apply to repetitive questions and problems of significance to be organisation
as a w
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Organizing: It is the process of bringing together physical, financial and human
resources for achievement of organizational goals.

i) Developing the organisation structure which involves identification of task and

grouping them into units or departments for performance.
ii) Delegating authority to the managers and making him responsible for group
performance.
iii) Establishing relations creating conditions necessary for mutually cooperative efforts
of people in the organisation.

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Staffing
Planning the organization with suitable personnel constitutes the staffing function.
It involves selection, training and development, compensation, and appraisal of
subordinates by the manager.
Manpower planning and management looks after these activities and try to ensure
suitable methods of remuneration and performance.appraisa1 of the employees.

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DIRECTING-Directing involves managing people and the work through the means of
motivation, proper leadership, effective communication and coordination

+ Maximum individual contribution:encourages workers to work efficiently and to

the best of their capabilities such that they contribute the maximum towards the
common goals of the organisation.
+ Harmony of objectives:the focus of directing function should be to bring about
convergence between the personal goals and organizational goals.
+ Unity of command:an employee should receive instructions or orders from only
one superior.
+ Appropriate technique:the manager must appropriately select the motivational
and directional technique such that it is according to the needs, desires and
attitudes of workers.
+ Managerial communication: There must be free flow of communication between
the manager and the subordinate without any hesitation w.r.t power.

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Controlling-It enables management to ensure that achievement is in accordance with
the established plans.

It involves:
+ i) Establishing performance standards for evaluating results.
+ ii) Performance on the basis of records and reports on the progress of work.
+ iii) Performance evaluation against the standards set.
+ iv) Corrective action to regulate operations, remove deficiencies and improve
performance.

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THANK YOU

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