Introduction to Management FY001: Business Functions Report

This report provides an overview of management functions and their significance in managing a business. It defines management and outlines key management theories, including scientific management, bureaucratic management, and human relations theory. Different organizational structures, such as hierarchical, functional, and divisional structures, are examined, highlighting their advantages and disadvantages. The report also delves into business functions, focusing on marketing, finance, and human resources, and their interrelation. It further explains the five management functions of planning, organizing, staffing, controlling, and leading, emphasizing their interconnectedness. The crucial role of HR in talent management, including recruitment, payroll processing, and training, is discussed. Finally, the report touches on organizational culture and its impact on business success. This document is available on Desklib, a platform offering study tools and solved assignments for students.

Introduction to
Management

Contents
INTRODUCTION........................................................................................................................3
MAIN BODY................................................................................................................................3
Management structure and business functions.......................................................................3
Marketing functions................................................................................................................5
Management functions...........................................................................................................5
HR and talent management....................................................................................................6
Organisational culture ...........................................................................................................7
CONCLUSION ............................................................................................................................7
REFERENCE................................................................................................................................8

INTRODUCTION
The report aims to identify the significance of Management functions and how it helps to
manage a business properly. Management is the core function and important activity
throughout an organisational working. It includes all the functions regarding planning,
sourcing, staffing, monitoring and controlling. These are the crucial function of management
that goes with every department such as marketing, human resource, finance, technical and
production (Gambetti, Melewar, and Martin, 2017). The report will outline the different
management structure followed by its theories. Also, an interrelation of different departments
with Marketing department will also be provided. At last, there will be an explanation of
Management functions and how it interrelates for making business successful.
MAIN BODY
Management structure and business functions
An organisation structure contains all the directions and limitations to perform organisational
activities in order to secure goals. The organisational structure defines roles and responsibilities
through which all the organisation members are connected with (LeCrom, and Naylor, 2020).
It shows how the communication will flow on the office level and hierarchy would be
maintain.
Management is the vital concept behind organisational success. It is the key to carry out
different functions at different level to achieve one common objective.
There are some of the most important management theories which are mentioned below:
Scientific management theory: As per the theory, the managers need to identify simple ways
to perform task and activities in order to achieve productivity (Christopher, Laasch, and
Roberts, 2017). Scientifically, it is not possible to force people to work hard. Rather, the
managers need to take appropriate actions and provide guidance to indulge employee in tasks
and activities.
Bureaucratic Management Theory: as per this, the management needs to be perform
systematically and the organisation needs to adhere clear rules and responsibilities. Most of the
organisations today are using this theory to maintain standards and productivity.
Human relation theory: the main focus of theory is to improve the productivity of employees.
It shows that providing better working environment and informal relations will help in

performance increment (Pecht, and Kang, 2018). The employees will feel valued through
getting personal attention.
There are different types of organisational structure which sets some roles and
responsibilities to carry out communication, coordination and activities.
Hierarchical organisational structure: this structure is beneficial for maintaining authorities
and responsibilities by showing clear paths of communication. It is the advantage of this
structure that it avoids delay and conflicts as the employees are motivated and specifically
known about the responsibilities (Kartikowati, Gimin, and Sakdanur, 2018. The disadvantages
that common organization would not easily take decisions for innovations and changes. Also,
the employees could not take decisions in an independent working environment.
Functional organization structure: as per the structure, different departments have their
different managers. The employees set their roles and activities as per their specific skills
which maintain the functions properly. The biggest advantage is that this structure can be
followed by any organisation and improve employees’ productivity. Apart from this, the
disadvantage is that there is no independent communication take place that creates delay in
decision making.
Divisional structure: this structure is beneficial to have different departments and operations.
This division is advantageous as each department will be lead by different managers to avoid
work burden and decision making will be an easy task (Hubert, Miller, and Burkett, 2021). The
disadvantage of this structure is that innovation cost and rivalries may affect the workplace.
Each department will focus on their particular work field which would not be beneficial for
others and result on overall business efficiency.
Business functions:
Business functions are the combination of all the areas and activities perform by organisation
which helps in achieving business purpose, mission and objectives.
Marketing functions: This function is all about carry out marketing activities in order
to make sales of product and service in organisation.
Finance function: This function carries out budget related decisions and investment
policies to secure funds in company.
Human resource function: This function perform activities of hiring, selecting and
managing talented workforce in organisation.

Marketing functions
Business function play important role in order to assemble and carry out different
business activities in a simple manner. Therefore, marketing function is one of the most
important which helps in generation of sales in company (Park, and Ahn, 2021). Attractive
marketing tactics helps the organisation to attract customers which include promotion,
advertisement, digital marketing and public relations.
Marketing function and human resource: The Human Resource Department will
focus on hiring most talented candidate who has marketing skills and talent to capture a large
market. Therefore, HR manager needs to have an interconnection with marketing department to
analyse which skills are necessary.
Marketing and Finance function: The finance department sets a budget to carry out
all business functions. So that, marketing manager would take the decisions of promotion and
branding within budgetary limitations. (Cameron, and Rössler, 2018). The finance managers
will help them to invest in most beneficial ways to achieve high profits and sales.
Marketing and production: The marketing managers must have knowledge about
products and services such as their size, durability and all the other features to better attract
customers. For example, in order to sell food packages, the manager must be aware about its
health benefits to better guide customers.
Management functions
There are basically 5 management functions of Henry Fayol which are described below:
Planning: It is the most crucial function of management. It is a complex task to set
whole plan and activities which is required to take place in the organisation. The planning
involves organisation capability and personnel in order to generate better policies and plans.
Organising: Once all the plans are identified, it is necessary to prepare all the resources
such as capital, human resource and raw materials to give a better start of the business. This
requires an appropriate leadership and managers control to avoid wastage of resources.
Staffing: The organisation needs to identify vacant positions and requirement of human
resource to carry out necessary functions in organisation. Therefore, staffing needs to be done
in proper manner so as to select and hire best employees who will be a great asset for
organisation.

Controlling: The manager's role does not ends here, once all the planning got done and
resources are finalise and employees are hired, it is necessary to put control on all these every
activities. Control is necessary to check the productivity functions has been performed in the
desired manner as according to the plans (Yilmaz, and Flouris, 2019). It will show mistakes
and need for improvisation. so that the business would not bear any huge losses.
Leading: This function is also necessary to better instruct and guide employees towards
the right path. Leadership is most required aspect to achieve organisational objectives.
All these management functions are interrelated in below stated manner:
Planning and organising: These functions are also connected and vital to get business
success (Haran, 2020). As the plans will show a specific idea so that the resources and raw
materials will be purchased. It will avoid overlapping and avoid wastage.
Staffing and controlling: These functions are also work together to better achieve the
organisational standard. Once the candidates are hired in the organisation, managers need to
put control on each activities performed by them and provide required training as well. It is
beneficial to get success as employees will identify the mistakes and promotes improvement.
HR and talent management
HR plays an important role in the organisation. The Human Resource Department is liable to
perform recruitment, hiring, selection and training and development of employees (Griffin,
2021). HR managers play many roles and undertake responsibilities towards organisation and
its employees.
Hiring right employees for right job: It is the most important role of HR manager to
hire the perfect suitable employee who could manage specific workplace activities (Cho, Park,
and Park, 2019). It shows an effective planning of human resource within organisation.
Processing company payroll: The HR manager need to look for the salaries and
compensation of employees (Kamphuis, 2020). The manager will give all the benefits and
appraisals in the salaries of employees as per their performance and activities.
Provide training and development: The HR manager perform its responsibility to
provide training and development programs to the Employees. This helps them in managing
talent and retains employees for long time. It boosts employee’s motivation and they become
more confident.

It has seen that HR manager has many roles and responsibilities in an organisation to
manage all the activities properly (TIMES, 2017). Therefore, talent management is vital for the
success of organisation. Talented employees are hard to find in this competitive environment
for which it undertakes a lot of planning, recruitment cost and opportunity cost.
Organisational culture is all about the beliefs values and ethics and rules followed by
the organisation member (Schuster, Heinemann, and Cleary, 2021). Culture defines a
particular path and ways to perform activities which creates some standards and boundaries.
Organisational culture
A strong organisational culture will result in maintaining coordination, interpersonal
behaviour and a sense of humanity among others. The managers will take decisions as per their
customers believes and values to maintain society culture. Whereas, poor organisational culture
lead to affect reputation and it negatively impact on the working activities of company.
CONCLUSION
The report has concluded that management plays a crucial role in all the departments,
functions, activities areas in business and other factors. It has provided different theories, roles
and responsibilities of business functions and their interconnection for the success of business.
Also, roles and responsibilities of HR as also derived in this report.

REFERENCE
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