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Functional Areas of Management

Areas of skills and practices are categorized according to the four main functions of management, including planning, leading, organizing, and coordinating. Preparatory texts in management frequently manage their topics according to the equal or similar classification. However, the four functions are in fact highly integrated when passed out in the day-to-day realities of in succession an organization. Therefore, the reader should not get trapped up in trying to closely investigate and appreciate complete, clear basis for the categorization of the skills and practices.

In addition, various experts would oppose on what skills and practices should be compulsory for basic, entry level managing.

Various functional areas of management are:

· Production(Manufacturing) management

· Marketing management

· Financial management

· Personal management
1. Production management:

Production means formation of utilities by converting raw objects in to final creation by different scientific methods and set of laws. It is very essential field of managing. Various sub-areas of the manufacture department are as follows.

Production planning: Managers has to arrangement about different production policies and production methods.

Plant lay out and location: This area deals with designing of plant arrangement, make a decision about the plant location for various products and providing different plant utilities. Research and Development: This area deals with research and developmental actions of manufacturing branch. Refinement in existing product line or build up a new product is the most important activities.

Material management: This area deals with purchase, storage space, issue and manages of the material mandatory for production division.

Quality Control: Quality control department works for manufacturing of superiority product by doing different tests which guarantee the customer satisfaction.

2. Marketing management:

Marketing management involves sharing of the manufactured goods to the buyers. It may require number of steps. Sub areas are as follows:

Sales management: Sales management deals with fixation of prices, genuine transfer of products to the client after satisfying certain formalities and after sales services.

Advertising: This area deals with advertising of manufactured goods, introducing new product in marketplace by different ways and support the customer to buy thee products.

Market research: It involves in gathering of data associated to product order and performance by investigate and analysis of market.

3. Finance and accounting management:

Financial and accounting management deals with supervisory activities associated to procurement and operation of fund for industry purpose. Its sub areas are as follows:

Management accounting: It deals with analysis and construal of financial verification so that organization can take assured decisions on venture plans, revisit to investors and dividend policy.
Financial accounting: It relates to record maintenance of various financial dealings their arrangement and preparation of financial statements to demonstrate the financial situation of the organization.

Costing: Costing deals with recording of costs, their arrangement, analysis and cost control.

Taxation: This area deals with different direct and indirect taxes which association has to pay.

Personnel Management:

Personnel management is the segment of management which deals with valuable use and control of manpower. Following are the sub areas of Personnel management:

Recruitment and selection: This deals with hiring and employing labor for various positions as mandatory.

Personnel planning: This deals with preparation record of accessible manpower and genuine requirement of staff in organization.

Training and development: Training and development deals with development of making the employees more professional and successful by arranging training programmers.

Industrial relation: It deals with maintenance of overall employee relation, providing good working circumstances and welfare services to employees.

Wage administration: It deals in job assessment, merit ranking of jobs and making wage and encouragement policy for employees.