Introduction to Management

This report provides an introduction to management, including its definition, functions, and various business functions such as marketing and HRM. It also explores different management theories and types of organizational structures. The importance of coordination among different departments and the interrelation of management functions are also discussed.

INTRODUCTION TO
MANAGEMENT

Table of Contents
INTRODUCTION...........................................................................................................................3
Management ....................................................................................................................................4
Management theories ..................................................................................................................4
Organisational structure- ............................................................................................................5
Types of organisational structures...............................................................................................5
Business functions.....................................................................................................................6
Relation of marketing with other departments ...........................................................................7
Marketing function.......................................................................................................................8
Management functions.................................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES................................................................................................................................1

INTRODUCTION
Management is an art of performing the work which includes making of strategies and
establishing co-ordination among the efforts of the employees in order to achieve the objective of
the company (Schermerhorn Jr, Bachrach and Wright, 2020). This report will highlight the
concept of management along with its function in addition to various business functions
including the marketing and HRM.

Management
It stands for the process of establishing strategies and and giving guidance to the employees to
perform their job enthusiastically and even more efficiently to achieve the desired goal and target
of the company(Paurova, 2020). Basically it is a process of dealing with the employees and make
them aware about their roles and responsibilities within the organisation.
Management theories
There are few management theories which elaborates some tools and guidelines which the
business can implement in their business.
Scientific management theory
This theory has been given by Fredrick Taylor, this theory believes in forcing people to work
hard so that the business can generate the best and optimized result. Taylor believes that
productivity also get increased when employees perform the work effectively. Taylor states that
the only remuneration which can make employees motivated is job security if they feel that they
are not going to lose their job they will put 100 % in their work.
System management theory
As per this theory, the success or failure of the business depends on the synergy, relation
between various departments and interdependence. Employees plays a vital role in the success of
the business and they are very crucial part of any business. Business needs good management
who can guide the employee well.
Contingency theory
According to this theory, internal and external factors affect the plans, policies and management
approach. It believes that there is no perfect management approach in any company which do9
not get affected by the factors (Mansouri, 2018). It also reflects the numerous variables such as
– technology, leadership style etc. which can affect the structure of any organization.
Theory X and Y
This particular theory defines two approaches of management – Authoritarian (x) and
participative (Y). in any company when the employees shows little enthusiasm towards their
work, leader adopts the authoritarian approach on the other hand when employees don't show
any efficiency towards the work management impose participative theory.

Organisational structure-
consist the necessary activities like – planning, directing, controlling etc. to achieve the profit.
The advantage of organisational structure is that it divides the employees as per their
specialization and experience so that they perform their job enthusiastically (Miśkiewicz, 2017).
It refers the action of bringing all the departments together like- finance, HR, marketing and
production to attain the goal. It includes the recognition of activities, dividing them in the group
of people, and coordinate them among the employees to achieve the best output. It provides
proper guidance to the employees and workforce to perform their work on time. It helps in
segregation of the task among the employees, and maintain the hierarchy among different
departments and facilitates the policies and procedures. There are few disadvantages of
organisational structure is it reduces the creativity of the people by imposing them various duties
in result it discovers anxiety among workers.
Example – Tesco uses the organisational function in such a manner to achieve the pre-
determined targets.
Types of organisational structures
Hierarchical structure
In this all employees of the organisation are divided in the group and have clear supervision
towards the work. The division of group is done on some factors such as
Function – the various functions of the organisation like – HR, finance or marketing they get
divided as per their work and the function they belong to.
Geography – employee get divided according to reason suppose if the employee is working in
UK so they will be part of such group which is formed in UK not in other state or country.
Matrix structure
As per this matrix all the employees who are having similar skills are pooled in one group so that
they can generate better outcome. As all the engineers should work in one team to ehnace the
productivity.
Horizontal structure
This kind of structure is being followed by the small companies and newly started start-ups. In
this the middle management don't get placed. By doing this employees may take fast and quick
decisions. Basically the power of taking decision is being given to employees instead of
management.

Network structure
This structure maintenance the relationship between the top and middle management in the
organization (Stverkova, 2018). It is very flexible structure as compared to others. But the loop-
hall of this structure is, it very complex in nature and not so perfect.
Team – based organization
In this structure the whole team works to attain the common target and goal along with fulfilling
their own targets. This structure is very flexible in nature, and problems get solved easily when
all the employees work together.
Business functions
There are some major function such as – marketing, finance, HR, production, research and
development, available in all type of businesses whether its is a retail business, manufacturing or
hospitality (Fernandez, 2020). From the appropriate utilization of these functions, business can
grow inn the market.
Accounting and finance
This function of business is responsible for managing the outflow and inflow of the fund in
business as finance is the blood of any business or company. Besides this finance department
provide appropriate fund to other departments so that they can perform their necessary duties.
Except this accounts department is responsible for gathering and collecting the data and arrange
all the available records. If the accounting data is well arranged, it will be beneficial for the
finance department to formulate numerous policies to attain company's goal.
Marketing
It works in the market and conduct various promotional and advertisement activities to let the
people know about the products offered by the company. In short it obtains the market
information, related to the views, choices, wants and desires of the consumer . It assists the
company that what type of product costumer liked the most.
HR
The main responsibility of HR is to recruit the correct person having all the necessary
qualification, knowledge and skill. Apart from this HR provide appropriate training to the
employees and look after their wages and remunerations.
Research and development

R&D department is responsible for searching new trends and conditions which is going on in the
market. It updates the business according to the changing environment. It guides the company
when they can launch new product in the market and how the product will perform.
Production
This department produces goods as per the information given by marketing department and R&D
it makes plan and policies for the utilization of raw – materials, plant and machineries and
quality control as well to produce quality goods.
Relation of marketing with other departments
Marketing and finance
Role of this two departments are totally opposite in nature but both are backbone of any business
(Puhachenko, 2020). Finance department manages the wealth and revenue of the company and
try to control the unnecessary usage of funds on the other hand marketing department needs
ample of money tom promote the product of the company and make it available in the hands of
end user.
Marketing and HR
The collaboration of these two departments is essential for the company because HR department
govern the internal issues of the company whereas the marketing department has command on
external matters. HR hires the correct person for the correct position and marketers work for
knowing the needs and wants of the customer but the motive of both the departments are similar
to gain the profitability for the business.
Marketing and operation
These two departments are the pillars of any business or company, as marketing department
provides the necessary information to the operation department about what type of product is
being preferred by the customers, what trend is going on, what kind of product, competitors
offering and as per this operation department produces relevant and innovative product which
makes the company different from others.
Marketing and R&D
The work of these departments are similar in nature, pair of these departments work in the field
to gather the relevant information whether by taking feedback and reviews of the customer and
by analysing the marketing strategies of competitors. The aim of not only marketing department

but also R&D is to bring innovation in the existing product or introduce new product in the
market.
Marketing function
Marketing:
It is an act by which companies perform their actual function of selling its products so that it can
achieve it objective in the form of profits and sale. Marketing leads to the sale of product of the
company among the customers.
Management functions
Henry fayol broadly categorize five functions of management which are described as under:
Planning:
It is the first function of management which includes determining and making plan in order to
meet the objective of the company. The main role of this function in the company is making of
effective strategies in order to meet the business environment changes and accomplish the
company's objective.
Organizing:
After making of plan the next function includes organizing the company's activities. This
function includes performing of departmentation and assigning them authority matching to
responsibilities so that the plan which was made will start executing. The main role of this
function is to organize the activities so that efficient and effective result will produce.
Directing:
After dividing the work the next function includes directing the efforts and work of the
employees towards the common direction which means towards the goal achievement of the
company. The main role of this function is the synchronization of individual effort into group
efforts and after that directing the synchronized efforts of the employees towards the
accomplishment of the goal of the company.
Co-ordination:
The next function of the management is the establishment of the co-ordination among the
employees and their efforts so that the pre decided plan will meet and reach towards the end
which is, achievement of the company's goal. It should be the main responsibility of
management to establish the co-ordination in the employees efforts so that the desired output will
be achieved.

Controlling:
It is considered as the last step of management which includes checking and analysing that the
desired output is achieved or not which means under this step the management compare the
actual performance of the company with the standard or pre-set performance and then seeing that
there should be no occurrence of deviations (Francsovics, Kemendi and Piukovics, 2018). And if
the deviation or difference found then taking the corrective actions in order to meet such
deviations. This step plays a major role in the achievement of company's standard objectives.
Interrelation of management function:
All the functions of management are interrelated with each other which means without the
performance of one function the next function would not been able to perform like the
relationship between planning and organizing. Without the making of plan, the work and other
functions will never be initiated. Similarly, without performing planning organizing will never be
possible which includes dividing the whole work as per plan.
CONCLUSION
From this report it is understood that without management company can't achieve its objectives
and perform its work. Like the management and its functions the other business functions also
plays a major role in the running of company and goal achievement. It is also to be considered
that the HRM and its talent management concept contributes a lot in the company's success.

REFERENCES
Books and journals
Fernandez and et.al, 2020. Tackling the HR digitalization challenge: key factors and barriers to
HR analytics adoption. Competitiveness Review: An International Business Journal.
Francsovics, A., Kemendi, A. and Piukovics, A., 2018. Controlling as a Management Function.
Mansouri and et.al, 2018. Role of organisational culture, leadership and organisational
citizenship behaviour on knowledge management. International Journal of Knowledge
Management Studies.9(2).pp.129-143.
Miśkiewicz, R., 2017. Organisational structure in the process of integration on the example of
iron and steel industry enterprises in Poland. Difin.
Paurova and et.al, 2020. SOCIAL MEDIA MARKETING AS TOOL OF BUSINESS
SUCCESS. Economic and Social Development: Book of Proceedings.pp.492-498.
Puhachenko, O., 2020. Improvement of the process of material support through integration of
accounting with other managerial functions. Herald of Ternopil National Economic
University, (1 (95)).pp.187-199.
Schermerhorn Jr, J.R., Bachrach, D.G. and Wright, B., 2020. Management. John Wiley & Sons.
Stverkova and et.al, 2018. Business organisational structures of global companies: Use of the
territorial model to ensure long-term growth. Social Sciences. 7(6). p.98.
Vidgen and et.al, 2017. Management challenges in creating value from business
analytics. European Journal of Operational Research.261(2).pp.626-639.
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