SEVEN (7) FUNCTIONAL AREAS OF MANAGEMENT

We have seven (7) functional areas of management:

1. HUMAN RESOURCE MANAGEMENT — drive the performance of organizations along with
other resources. It deals with the management of people and is the most important business
resource. These includes:
a) Conducting Job Analysis
b) Planning Labor Need and Recruiting
c) Selecting Candidates for the Job
d) Orienting and Training New Employees
e) Managing Comprehensive or Pay
f) Providing Incentives and Benefits
g) Evaluating Employees' Performance
h) Communicating
i) Developing Employees
j) Building Employee Commitment
k) Providing Good Working Conditions
l) Handling Grievances and Industrial Relations
2. MARKETING MANAGEMENT — It is important because it is the key to organizational goal
attainment, customer satisfaction, and profit gain
This includes the following:
a) Analyses, planning, implementing, and controlling of goods, services, and ideas to create
exchanges that satisfy customer needs and company goals.
b) Management of marketing resources.
c) Analyze, plan, and implement marketing programs that aim to bring about an expected level
and mix of business deals with target markets.
d) Stimulate demands for the products of the company.
e) Make crucial decisions that will ensure the company's competitiveness.
f) Make sure that marketing techniques employee are efficient, effective, and socially responsible
or ethical.
3. OPERATIONAL MANAGEMENT — Business managers focuses on the productivity,
technology, quality of goods and services, customer satisfaction, and speed. It is important
because business of different types and sizes may increase their chances of survival and success
in today's business environment. This includes:
a) Managing the sequence of activities and information along the whole course of the value chain.
b) Overseeing the transformation processes that change resources into finished goods and
services.
c) Improvement of productivity and competitive advantage.
4. FINANCIAL MANAGEMENT — Good financial management starts with understanding the
financial management. It emphasizes the organization's budget so that it is important. This
function includes:
a) Taking charge of the company's financial policies and strategies, investments, capital
structures, and dividend policies.
b) Financial management and control.
c) Financial planning.
5. OFFICE MANAGEMENT — it includes the process of planning, organizing, staffing, leading,
and controlling office activities and those performing them in order to achieve the objectives.
6. MATERIALS AND PROCUREMENT MANAGEMENT — it refers to the process of planning,
organizing, staffing, leading, and controlling the procurement activities. It is important that
materials and supplies are delivered properly and delivered at the right time and in the right place.
7. INFORMATION COMMUNICATION AND TECHNOLOGY MANAGEMENT — this includes
the use and articulation of computers to provide data and information to individuals, groups, or
organizations. This also includes:
a) Developing the Organization's Hardware, Software, and other Computing and Communicating
Technology.
b) Developing the Organization's Management Information Systems (MIS) Tailored to the Needs
of the Firm's Units.
c) Encouraging E-commerce Through Internet Use