This report provides an introduction to management, discussing its importance and key elements. It covers management structures, business functions, marketing, HR, and talent management. The report emphasizes the interconnection between different departments and the role of effective management in achieving organizational goals.
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INTRODUCTION TO MANAGEMENT
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Contents INTRODUCTION...........................................................................................................................3 MAIN BODY..................................................................................................................................3 Management structure and business function..............................................................................3 Marketing function......................................................................................................................4 Management Function.................................................................................................................5 HR and talent Management.........................................................................................................5 Conclusion.......................................................................................................................................6 REFERENCES................................................................................................................................7
INTRODUCTION Management is the process of managing and dealing with business’s activity in an appropriate manner that help organization in effective working. The management is a process which include planning, organizing, monitoring and controlling (Definition of Management, 2020). The purpose of the report is to understand the importance of management and its relevant key elements that support company to run in an effective manner. MAIN BODY Management structure and business function Organization structure is a system that define different activities which are directed in ordertoattainthedefinedgoals.Thisshowsthelineofauthority,rightsandduties, communication channel of organization. It also help organization to determine roles and responsibilities assigned to employees, coordinate and control and flow of information within different departments of company. Usually top management delegate there power to middle and lower management and provide to make certain level of decision in company(Macchi, Savino and Roda, 2020). Management is a process that shows the process of completing organization work in proper planning, organizing, monitoring and controlling. There are many management theories introduced by the authors which includes Federick Taylor who introduced Theory of Scientific management,HenriFayol-Administrativemanagementtheoryandalmostallthetop organization uses the same (Hall and et.al., 2008). Further, Max Weber introduced Bureaucratic theory of management etc. The organization structure that are used by organization according to their nature of working. This theories are: Functional structure:This is also called bureaucratic organizational structure and divide according to specialization of work. This are implement by small and medium enterprise mostly by diving different departments like sales, marketing, accounting etc. Advantage: 1.This makes proper structure in company and systemic work within company. 2.The roles and responsibilities are clear to every employee. Disadvantage: 1.This structure can only be used by small and medium enterprise. 2.It sometime ignore the organizational objective and focus on departmental objectives.
Divisional structure:This are used by large organization with multiple business units. This are called divisional and multidivisional structure and majorly used by its leader’s team based on products or projects of company(Kembauw and et.al.,2020). For example: Johnson and Johnson is most relevant example for this structure as they carry different line of products and divided into different business structure. Advantage: 1.Systematic working without nay introduction of other unit. 2.Focus on unit wise that help to know improvement in particular product line. Disadvantage: 1.Time consuming process as to maintain all different units of organization. Madura (2007) stated that business functions are those activities which are carried by an enterprise and then it is divided in different core departments in order to attain the defined goal of a business. Major Business Function, roles and responsibilities are: Marketing:The major role played by marketing department is to promote and sell more goods and service of company in market. Through this, most of the customers are attract towards company by using effective marketing techniques. Sales:Sales function shows the selling of goods and service to consumers and covert leads into paying orders. Operation:This function execute product and service into reality. This function worked as a linkage to communicate between business and customers. Finance:The core function who manage cash and money within company. Through this company is able to analyze the financial performance of a business and then make effective strategies as well. Marketing function Marketing department is closely linked with other department of a company likes sales, purchase, finance or Human resource. Marketing department of organization connect with each departmentandworkaccordingtotheirrequirementsofotherdepartments.Theyhave responsibilities of business organization to for growth and development of business function. The key role marketing function is to communicate, promote sales and purchase, product development,planning,promotionandsellingdistribution.Theinterrelationshipbetween marketing function and other department is to offer the best quality of product in order to meet
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the demand of customers. Finance department is closely connected with marketing department such that it finalize the budget for marketing plan, hiring candidates for organization and gather information from human resource department to know about the details of job vacancy within organization(Shah and Murthi, 2021). The sales departments is connected to promote goods and service of organization to increase the sales revue and make the high profits.The purchase department is being connected by marketing department for purchasing bulk raw material in company that further promote all products and service in market at discount rate or providing schemes that can attract customers. For example:If organization is looking for effective candidate for finance department, then marketing department will contact Human resource department and finance department to identify the specific requirement. Also, it assist the department to identify the best talented pool for the vacant position. To increase the sales of organization, both sales and marketing department work together. Such that marketing department promote goods in market by offering various scheme and discount to customers that attract them towards company. This increases the sales of a business and creates positive impact as well (Armstrong, 2012). Management Function The Henry Fayol’s management function are: Planning:The planning is a key function of a management within an organization. Manager are working to set objective which need to be meet by the employees. Thus, they communicate the same with workers to attain the defined goals. To make a successful plan of action, planning should be done and the same will be communicate with others(Bondarenko and et.al., 2020). Organizing:It is another management function which establish the worker relationship, it also enable the workers to work together in order to attain the defined goal of a business. Commanding:This function shows the orders and clear instruction towards work. The function also motivate and encourage employee to complete their work within time limit. It also stated that the relationship between employees should be formal and informal both, this leads to healthy relationship in company and make positive environment within work culture. Coordinating:when all function are organized and connected to each other, it provide better result. Positive influence of employee behavior within the company’s group makes clear and effective communication between employee and company. Through effective coordination between employees assist business to improve the performance and prevent the chances of failure of project(Meyers and et.al.,2020). Controlling:This function verify that all steps and process are going under planned manner of organization against set objective. Controlling measure actual and standard performance of
activity, compare result with standard set and take corrective action. Through this company determine or predict deviation before it actual occur. HR and talent Management Human resources another important factor that help organization to provide potential and effective employee for organization. They manages the human capital of company and help employee to achieve better performance by providing proper training and development. The HR professional hire candidate who have enough potential that fit and complete the task. The major responsibilities is to identify the most relevant and also evaluate the performance of each employee within a business. Talent management is the process of Human resource management to attract, develop, motivate and retain high performance employee for organization. They help to improve business performance by recruiting employee who complete the defined task effectivly(MartĂnez-Caro and et.al., 2020). They help business to attain its objective that help them through working effectively and moving company towards its objectives. The organizational culture is the collection of values, attitude practice and expectation of employee from company and gain satisfaction level. The organizational culture should be more positivesandethicalthatmotivateemployeetoworkforcompanyandimprovetheir performance. There are 4 type of organizational culture which are as mentioned below: Clan Culture:this culture major focus on mentorship and teamwork to achieve the objectives (Worthington and Britton, 2006). Adhocracy culture: This culture is more often working on risk taking and innovation in company. Market culture: This organizational culture is focus on competition and growth of company. Hierarchy culture: Its major focus is on structure and stability in market that help to sustain a business for longer term (Four types of organizational culture, 2020) There are high consequences of company which had not adopt the right working culture. If company adapt the right culture then it will make contribute to its growth and also attract the range of employees towards it. While if company opted wrong culture then it can affect badly towards financial as working performance, as a result employee morale will decline that directly impact on company growth. Conclusion The above report conclude that business function and management function are need to be connected with each other for effective working. Further, Henry Fayol defined different managementfunctionswhichincludesplanning,organizing,controlling,staffingand
coordinating. Whereas, study also concluded that marketing department should also connect with other department in order to improve the performance of a company. Lastly, HR department and talent management help to achieve the company’s objective by pool out most effective candidate.
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REFERENCES Books and Journals Armstrong, M., 2012. Armstrong’s Handbook of Human Resources Management Practice. 14th edn. Kogan Page: London, pp.439-500. Bondarenko, V.A and et.al.,2020. Digital Solutions and HR Marketing Opportunities: The Current Level and Prospects for Increasing Efficiency.International Journal of Economics & Business Administration (IJEBA),8(Special 1), pp.3-13. Hall, D. and et.al., 2008. Business Studies. 4th. Edn. Essex: Pearson Education, pp. 35-45. Kembauw,E.,andet.al.,2020.StrategiesofFinancialManagementQualityControlin Business.TEST Engineering & Management.82. pp.16256-16266. Macchi, M., Savino, M. and Roda, I., 2020. Analysing the support of sustainability within the manufacturingstrategythroughmultipleperspectivesofdifferentbusiness functions.Journal of Cleaner Production,258, p.120771. Madura, J., 2007. Introduction to Business. 4th edn. Ohio: Thomason South Western. MartĂnez-Caro, E and et.al.,, 2020. Digital technologies and firm performance: The role of digital organisational culture.Technological Forecasting and Social Change,154(C). Meyers, M. C., and et.al.,2020. HR managers’ talent philosophies: prevalence and relationships withperceivedtalentmanagementpractices.TheInternationalJournalofHuman Resource Management.31(4). pp.562-588. Shah, D. and Murthi, B.P.S., 2021. Marketing in a data-driven digital world: Implications for the role and scope of marketing.Journal of Business Research.125. pp.772-779. Worthington, I. and Britton, C. 2006. The Business Environment. 5th edn. Essex: Pearson Education Ltd Online: DefinitionofManagement.2020.Availablethrough: <https://www.businessmanagementideas.com/management/definitions-of-management/ definitions-of-management/19418> DOA: 29thApril 2021. Four types of organizational culture. 2020. Available through: <https://builtin.com/company- culture/types-of-organizational-culture> DOA: 29thApril 2021