University Business Report: Management Structure and Talent Management

This report provides a comprehensive overview of management principles, organizational structures, and their practical applications. It begins by exploring different organizational structures such as functional, divisional, and matrix structures, and their respective advantages and disadvantages. The report then delves into various business functions, including production, marketing, finance, human resources, and research and development, highlighting their interdependencies and contributions to overall business success. A significant portion of the report focuses on the marketing function, analyzing its relationship with other departments like production, finance, human resources, and operations. Furthermore, it examines the core management functions of planning, organizing, staffing, directing, and controlling, emphasizing their roles in achieving organizational goals. The report also addresses talent management, particularly the role of HR in recruitment, performance management, and career development, and concludes with a discussion on organizational culture and its impact on business success. The report uses examples and academic references to support the arguments.

MANAGEMENT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................2
MAIN BODY...................................................................................................................................2
Management structure and business function..............................................................................2
Marketing function relationship with other functions.................................................................4
Management function..................................................................................................................4
Talent management and organizational culture...........................................................................5
CONCLUSION...............................................................................................................................6
REFERENCES................................................................................................................................7
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INTRODUCTION
Management refers to development of strategies for an organization and also coordinate
all the contribution which is being made by employee. To reach the target by available resources
that are finance, technological and human resources (Deepak and Jeyakumar, 2019). This report
will evaluate the marketing function its relation with other function for the organization success.
Different managerial functions and their particular responsibilities and how they help to reach
goal. Further it will determine the talent management and culture of organization.
MAIN BODY
Management structure and business function
Different types of organizational structures
The Organizational structure is process of a company in which they organise their
management system in a particular manner (Boyce and Ville, 2017). The line of authority and
responsibilities they have allocated to people who are working in the company. There are
different types of management structures. Which are described below:
Functional organization structure: In this structure the organization place similar task and skill
people together as per their speciality. For example all the accountant are working in the finance
department and all the employees who are performing marketing are working in marketing
department.
Advantage Disadvantages
The organization can take quick decision
between better communicate between the team
members.
Sometimes the main objective of the
organization is been ignored in this and also
have difficulty in coordination.
Divisional organization structure: in this structure the organization uses to create groups of the
employees into different teams which are depended on the products or any kind of project which
will satisfy the need of customers.
Advantage Disadvantages
The senior of all the teams are connected with
each other and perform better working and this
Divisional structure also involves the cost of
the unreal functions in this which ultimately
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also help to expand the business. influence the employees who are working in
right direction.
Matrix organization structure: this is a combine structure of divisional and functional model so
in this the organization uses to divide the people into to groups and further place them in this
department in which they are specialized (Inigo, Albareda and Ritala, 2017). In this structure
people of the organization are taking high autonomy and also being ready to take any kind of
responsibilities.
Advantage Disadvantages
With the help of such structure the
organization can easily able to coordinate as all
the department are able to communicate with
each other to share information.
There is high segregation in the teams and the
department which is affecting the bonding
between employees.
May cause conflicts and department disputes.
Business functions: There are various function which are carried under business which involve
different activities performed by various department in the company. The business functions uses
to ensure that the work is being performed properly throughout the organization. The main
function are production, marketing, finance, human resource and research and development. As
this are the function which are essential for all types of companies. These functions are
performed under a specific department.
Their responsibilities are to:
 Produce those goods which are preferred by the customers in the market and maintain the
quality of the product as well.
 To research the market and find out the best suitable manner to use the technologies and
perform the other activities of the business. Develop the process according to the need
and demand of customers.
 To promote the goods and services that are produced by the company and also provide
related information to the targeted audience.
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 Provide respective budget to all the department so that they can perform their activities
that are objected towards achievement of organizational goal.
Marketing function relationship with other functions
The marketing function is very vital in growth and success of organization. With effective
marketing the company can get competitive advantages in the market (Shahn and Murthi, 2021).
The marketing is also related and working with other functions for better grow.
Marketing with production department: the marketing function work very closely to production
department as the marketing is changing regularly so, with effective marketing the organization
cam able to inspect the market. Further they produce those goods how are able to satisfy the need
and preference of customers.
Marketing with finance department: the finance function uses to allocate the resources to all the
department so for adequate budget allotment the marketing function have to perform its task
closely with the finance function.
Marketing with human resource: the marketing functions have to perform its activities closely
with the HR function because the employees who are performing the marketing function are
recruited and selected by HR department.
Marketing with operation department: as the operation department look over all the activities
from the production till the sale of products so the marketing function is being coordinating with
operational function for effective working.
Management function
The management is a sociological process which includes different responsibilities to plan the
things and further operate them within the organization (Liang and Gao, 2020). This is one of the
dynamic process including different task and elements.
Planning: This is the primary function which help to determine the actions which are going to
perform by the company in the future. This includes “what to do, when to do and how to do” this
is planned in advance for better work.
Organizing: This is management function in which all the activities related to physical, finance
as well as human resources are come together to achieve the goal. In this there are different
activities involved:
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 To determine the task and activities.
 Classification of dividation of activities in the function.
 Assigning roles and duties.
 Authority are being delegated and responsibilities are being created.
 The coordination between the responsibilities which is being allotted and their respective
authority.
Staffing: This includes manning the structure of organization. This function of management is
one of the vital function as the technology get modified and there is need of efficient employees
who are able to operate this. The main task of this function is to put right person at right place in
the organization. For example: In Marks & Spencer when the technology has been updated then
for that they have recruited efficient employees and maintain their talent within the organization
to gain competitive advantage.
Directing: This function actuate the function to perform their activities more effectively to reach
the goal. This is a social aspect in the management function, in this function activities such as
supervision, leading people, motivating employees re common elements.
Controlling: This process assist to control the activities which are performed to manage the
organization. It is to monitor the things which are occurring in the organization.
Two management function and their contribution in success
Planning: The planning is required at every stage of management function to know about the
future action plan (Blattert and et. al., 2017). Without planning the organization can not able to
perform its task smoothly as they use to determine a systematic way of doing things and achieve
the success. With the planing decision-making is being efficient and also set the particular time
frame to achieve the target.
Controlling: The controlling process in the management function determine the success as it
control the employees to do their work. Further they monitor them to perform better and use the
resources optimally.
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Talent management and organizational culture
Role of HR in talent management: the management of talent within the organization is totally
depends upon the human resource department as they are only to manage the human capital in
organization (Krutyakova and Anyushenkova, 2018). The human resource have responsibilities
to recruit and select the right person and manage them to perform effectively.
Recruiting: The human resource is the founder of talent management is hiring the right people
at right place. The HR is defining the role which is going to recruit specifically with the job
descriptions, they also make uses of different tracking system which are going to help in
interview process to select the best candidate.
Performance management: The human resources uses to develop the performance of the
employee who has been recruited and selected (Mensah, 2019). They are using attendance sheets
to check the production and performance.
Career management: The management of employees are help to provide satisfaction and also
diminish the turnover. The career development is also an critical component of talent manag
which is managed by people of HR.
Organizational culture and Positive culture impact on the success
This is a set of values, practises and expectation which assist to guide the activities which are
performed by the employees in an organization (Whysall, Owtram and Brittain, 2019).
The positive culture help the company to improve its performance and assist to maintain better
quality that ultimately leading to grow and success of the company.
CONCLUSION
This report concludes that the management is process that make uses of all the
contribution that is made by employees within organization. There are different organization
structure such as functional, divisional and matrix which are used by different companies as per
their requirements. The marketing function is very vital and also perform very closely to all the
functions for better coordinate and growth of company. Further it also concludes that there are
different management function like planning, controlling, staffing assist to better success.
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REFERENCES
Books and Journal
Blattert, C. and et. al., 2017. Management of ecosystem services in mountain forests: Review of
indicators and value functions for model based multi-criteria decision
analysis. Ecological Indicators. 79. pp.391-409.
Boyce, G. and Ville, S., 2017. The development of modern business. Macmillan International
Higher Education.
Deepak, R.K.A. and Jeyakumar, S., 2019. Marketing management. Educreation Publishing.
Inigo, E.A., Albareda, L. and Ritala, P., 2017. Business model innovation for sustainability:
Exploring evolutionary and radical approaches through dynamic capabilities. Industry
and Innovation. 24(5). pp.515-542.
Krutyakova, M.S. and Anyushenkova, O.N., 2018. Changing functions of management at the
present stage. Наука и образование: новое время. (5). pp.176-180.
Liang, X. and Gao, Y., 2020. Marketing performance measurement systems and firm
performance. European Journal of Marketing.
Mensah, J.K., 2019. Talent management and talented employees’ attitudes: mediating role of
perceived organisational support. International Review of Administrative
Sciences. 85(3). pp.527-543.
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.
Whysall, Z., Owtram, M. and Brittain, S., 2019. The new talent management challenges of
Industry 4.0. Journal of management development.
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