Management Functions: Impact on Organizational Success and Growth

This report provides an overview of essential management functions and their impact on business success. It begins by defining management structure and various business functions, including human resources, marketing, and finance, emphasizing their roles in achieving organizational objectives. The report then delves into marketing functions such as price, place, product, promotion, physical evidence, people, and processes, explaining how these contribute to attracting and retaining consumers, ultimately leading to business success. Furthermore, it discusses core management functions like planning, organizing, staffing, directing, controlling, coordinating, and cooperation, highlighting their importance in strategic resource management and overall organizational performance. Finally, the report addresses talent management and organizational culture, emphasizing the significance of attracting, selecting, and retaining talented employees while fostering a positive organizational environment to enhance productivity and brand image. The conclusion reiterates that effective management, through its various functions, is crucial for organizational success and establishing a strong competitive position within the industry.

INTRODUCTION TO
MANAGEMENT

Table of Contents
INTRODUCTION....................................................................................................................3
TASK.........................................................................................................................................3
Management structure and business functions.......................................................................3
Marketing functions and relation to business success............................................................4
Management functions...........................................................................................................5
Talent management and organizational culture.....................................................................6
CONCLUSION.........................................................................................................................7
REFERENCES.........................................................................................................................8

INTRODUCTION
Management is the practice of getting thigs done by others. There are various
managerial activities which are followed in order to get things done through which a business
can strengthen their brand image and presence within the industry. This report will discuss
different factors in sections which will represent the managerial functions and how different
activities are helpful in meeting organizational objectives and ensuring business success. The
report will define management structure, business functions and marketing functions which
are helpful in ensuring business success.
TASK
Management structure and business functions
Organizational structure is the system which represents certain activities which are
followed by an organization through which they can meet organizational objectives, the
organizational structure is used to define rules, roles, and responsibilities of each person
within the organization as per their designation and job level in the company (Anderson and
et.al, 2018). There are various kinds of organizational structure, some of these are-
hierarchical, functional, flat, divisional, team based, matrix and network organizational
structure. The advantages and disadvantages of some of the types of organizational structure
is explained below:
ORGANIZATIONAL
STRUCTURE
ADVANTAGES DISADVANTAGES
Hierarchical structure This organizational structure
is helpful in developing a
clear authority of work
(Ballantyne, 2018). Due to
such structure, this structure
supports business in
ensuring effective
communication through
which they can provide
information and
communication directions.
This type of organizational
structure encompasses
centralization of power
where owner or authority is
with people who are
working in topset level of
the organizational and
processed to other
employees in systematic and
hierarchal manner.

Functional structure By following functional
organizational structure, an
organization can ensure
specialization of work
through which they can gain
various competitive
advantages. This structure is
helpful in business
expansion and improves the
efficiency of overall
organization.
The operation of functional
organizational stricture is
complicated where different
instruction is developed
which leads to higher
confusion in workplace.
Therefore, such structures,
lead to limited perspective
where the organization can
lack innovation and this can
affect their performance due
to delayed decision making.
Business functions involves activities which are performed by an organization. The
functions of an organization can be divided into two categories, which are- core and support
function. Business function is the framework which involves hierarchical activities through
which an organization can operate which will be helpful in meeting organizational objective
and ensuring business success. There are various business functions which are focused by a
business, some of these include-
 Human resource- Human resource is a business function which focuses on the
human capital of an organization (Bridgeford, 2020). It is the responsivity of business
to address the needs and concerns of their human resource through which they can
boost employee morale and maximizing business profitability.
 Marketing- Marketing is the business function which is followed by the organization
through which an organization focuses on promoting and selling goods and services to
their consumers (Flynn, Pagell and Fugate, 2020). It is the responsibility of marketing
department to attract consumers by understanding their preference through which they
can generate higher revenues.
 Finance- Finance department focuses on managing the financial services and
resources of the organization where they manage the resources and ensure free and
appropriate flow of resources.

Marketing functions and relation to business success
Marketing is a set of activities which focuses on creating, communicating, delivering
and exchanging offering which can bring value to products and services and attract
consumers. The functions of marketing help in brining value through which an organization
can identify, satisfy and retain consumers with the brand. The functions of marketing are-
price, place, product, promotion, physical evidence, people and processes. These functions
collectively support the brand in attracting consumers through which they can ensure
business success. The marketing functions, such as price helps the organization in setting the
right pricing strategies which helps them in attracting consumers and ensuring to meet their
consumers demands which will be help in retaining them for longer period of time span. Such
functions help in making business successful.
The other marketing function such as promotion is used by an organization through
traditional and modern approach where a company can promote and advertise their selling
products and service which will catch the attention of consumers. Such functions of business
can ensure management functions and also supports business in being successful (Lewis and
Frkal, 2019). The other marketing functions, such as place helps an organization to focus on
offering their products at such locations which can be easily accessed by consumers through
which higher revenues can be earned and this will also support in making business
successful. Marketing function such as product and physical evidence are helpful in ensuring
strong brand image of the company through where consumers can be attracted with the
variety of products which will be helpful in strengthening business position within the
industry. The wide range of products and services are clear physical evidence are helpful in
building consumer trust through which an organization can ensure business success.
Management functions
Management is the process of getting thongs done and it aims to achieve
organizational objectives with the help of resources effectively and efficiently. The functions
of management are also known as managerial functions. However, the managerial functions
which are followed by an organization are- planning, organizing, staffing directing,
controlling, coordinating and cooperation.
The managerial function, such as planning is an essential function which helps a
business in laying foundation through which they can ensure business success and strengthen
the competitive position of brand within the industry (Martynyshyn and et.al, 2020). With the

help of planning function, an organization can systematically meet organizational objectives
through which business can ensure success. Another managerial function, such as organizing
is helpful in managing the resource and all activities strategically through which all activities
can be completed within the selected time period. The responsibility of directing managerial
function focuses on offering sense of direction to employees through which they can
collectively work and make progress towards right direction. Such functions support business
in enhancing their cooperation and collaboration through which overall organizational
performance and productivity can be enhanced.
Planning- Planning is the initial management function which is the stepping stone for
an organization. This managerial function holds the responsibility of whole organization
which can make or break any business (Pettinger, 2020). In order to sustain in market and to
create a strong competitive position, an organization must focus on allocating employee
resources and delegating their responsibilities which will aid in setting realistic deadlines and
ensure completion of resources in timely period.
Organizing- With the help if managerial functions, any company can ensure smooth
functioning and continuous operations within their business. This function supports in
developing internal processes and structures where daily operations can be effectively
classified and carried out. This task does not only organize activities, whereas it also supports
in delegating task effectively and ensuring that all employees collectively work towards the
achievement of the desired objectives. It the responsibility of organizing function to ensure
all activities are classified and properly allocated through which while organization can
effectively perform and meet business objectives.
Talent management and organizational culture
Talent management is the practice of attracting, selecting and retaining employees
within an organization. This practice defines the whole employee lifecycle which involves
workforce planning, employee engagement, learning, development, performance
management, recruitment, onboarding, succession and retention of employees.
Talent management is the function of human resource management which focuses on
attracting and retaining tale ted personnel within the organization through which a business
can meet their planned objectives (Prasad, 2020). It is the role of an HR to ensure effective
talent management within the organization where they can improve employee performance,
boost their morale and foster effective communication and coordination among them which

will support all talented personals to meet organizational objectives. In context of talent
management, the role of HR is to hire right candidate, manage them effectively, develop
strong policies, design systems and form strategic decisions through which an organization
can manage their talent effectively and efficiently. For managing talent in an organization, an
HR needs to focus on recruitment, performance management, career management, leadership
development and organizational strategy.
Organizational culture is the underlying belief, assumption, value and approaches of
interacting which helps in contributing to unique social and psychological environment of
business. organizational culture is reflected in the way employees perform task within and
organization and meet their objectives. A positive organizational culture plays a crucial role
and this can be helpful in creating a strong and good impact on employees and their
performance which will drive benefits to the overall organization (Schuster, Heinemann and
Cleary, 2021). Culture creates the environment in which organization can influence their
nature of long-term plans and move the organization to make progress towards the
achievement of organizational vision and objectives. By positive organizational culture, an
organization can attract and retain top talents which will be helpful for long term benefits.
Such positive culture enhances productivity of employees and overall organization which will
lead to higher job satisfaction and increased participation and engagement of employees
within managerial activities. By maintaining positive organizational culture, this supports a
brand in creating unique brand image within the industry which will be helpful in
strengthening goodwill of an organization.
CONCLUSION
From the above report, it can be concluded that management is the composition of
various functions and activities which helps an organization to operate effectively within an
industry. There are various managerial functions which are performed by an organization,
such as- planning, organizing, staffing and many more. These managerial functions help an
organization to create foundation and make progress towards the achievement of
organizational objectives through which they can make place within the industry and ensure
business success.

REFERENCES
Books and journals
Anderson, D. R and et.al., 2018. An introduction to management science: quantitative
approach. Cengage learning.
Ballantyne, H., 2018. An introduction to change management theory for veterinary nurses:
part two. Veterinary Nursing Journal. 33(12). pp.332-335.
Bridgeford, T., 2020. Introduction: Content Management: A Pedagogical Exigency.
In Teaching Content Management in Technical and Professional Communication (pp.
1-15). Routledge.
Flynn, B., Pagell, M. and Fugate, B., 2020. From the editors: Introduction to the emerging
discourse incubator on the topic of emerging approaches for developing supply chain
management theory. Journal of Supply Chain Management. 56(2). pp.3-6.
Lewis, M. S. and Frkal, R. A., 2019. Case exercises in an introduction to management course:
a structured approach to increase student engagement. The CASE Journal.
Martynyshyn, Y and et.al., 2020. System Analysis in Socio-Cultural Management: Theory,
Methodology and Technology.
Pettinger, R., 2020. Introduction to management. Bloomsbury Publishing.
Prasad, L. M., 2020. Principles and practice of management. Sultan Chand & Sons.
Schuster, P., Heinemann, M. and Cleary, P., 2021. Introduction to Management Accounting.
In Management Accounting (pp. 1-16). Springer, Cham.