Report on Management Structure, Marketing Function & Talent Management

This report provides an overview of management structure and business functions, emphasizing the role of management in achieving efficiency through the amalgamation of various business functions. It discusses different types of organizational structures such as functional, matrix, and divisional structures, highlighting their advantages, disadvantages, and responsibilities within companies like Starbucks, Philips, and McDonald's. The report further analyzes the marketing function and its relationship with business success, emphasizing its integration with other functional areas like production, finance, and human resources. It also delves into the core functions of management—planning, organizing, staffing, directing, and controlling—and their impact on business operations. Finally, the report explores talent management as a crucial element of human capital management, emphasizing the role of human resources in maintaining a skilled workforce and fostering a positive organizational culture that enhances employee satisfaction and productivity. The document is available on Desklib, a platform offering a range of study tools and solved assignments for students.

Introduction to management

CONTENTS
INTRODUCTION......................................................................................................................1
1. MANAGEMENT STRUCTURE AND BUSINESS FUNCTIONS..................................1
Types of organizational structure, their advantages, disadvantages and responsibility.........1
2. MARKETING FUNCTION AND ITS RELATION WITH BUSINESS SUCCESS........2
3. MANAGEMENT FUNCTION AND THE MANNER ITS MANAGES BUSINESS......3
4. TALENT MANAGEMENT AND ORGANIZATIONAL FUNCTION...........................3
CONCLUSION..........................................................................................................................4
REFERENCES...........................................................................................................................5

INTRODUCTION
Utilization of available resources is quite necessary in this present business
environment and therefore, management is essential for supporting in amalgamating all the
functions of business so that efficiency can be achieved. In the present research report,
different types of organizational structure, their benefits, drawbacks and roles will be
discussed. Analysis of different management and marketing function along with talent
management and organizational culture by considering real examples will be done.
1. MANAGEMENT STRUCTURE AND BUSINESS FUNCTIONS
Types of organizational structure, their advantages, disadvantages and responsibility
There are different types of organizational structure and explanation of these is being done
underneath:
Functional structure
This type of structure is generally adopted by the firms which are dealing with only
single product and the whole organization is divided on the basis of functions such as sales,
finance, marketing, management, production and so forth. The activities of all these
departments are being coordinated by chief managers. Starbucks makes sue of this type of
structure. Each business functions defined above have some or the other responsibilities
(Daft, 2019). For example, marketing department is concerned with promotion of products
and services in the target audience, finance department is concerned with related budgets and
cost of production, sales department is accountable for selling of goods and services and
human resource department is related with management of workers in Starbucks. One of the
biggest advantage of this type of structure is Starbucks is able to achieve division of labour
and there is an encouragement of specialization. However, it does have some demerits that
there is no responsibility of each business function for overall outcome.
Matrix structure
It is being referred as that structure which involves multiple or dual managerial
accountabilities. In simple words, employees might have to report to more than one
supervisor. In matrix structure bureaucracy is being placed by direct contact. Nevertheless, it
consumer more time in making crucial decisions and involves high scope of conflicts
(Mullins, 2016). Matrix organizational structure is being used by Philips, Caterpillar and
Texas for making use of their human resources to their best potential.
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Divisional structure
In this type of organization structure, each organizational function is being grouped
into divisions. Each division involves all required resources as well as functions for the line
of the product and geography such as information technology, finance and marketing
department. McDonald makes use of this kind of structure wherein they have unrelated
products and services for different markets. In such type of structure, the accountability is
clear however it might be very expensive as there is a need of functional specialists.
2. MARKETING FUNCTION AND ITS RELATION WITH BUSINESS
SUCCESS
Speaking in regards with the marketing function, it is a specialized activity being
undertaken in marketing. It takes products from the point of origin to the point of
consumption. However, it is a philosophy of a business and thus, it is not the accountability
of only the marketing department (). It must be penetrated in the whole company. Further,
marketing plan is required to be linked with other functional areas of the business for
achieving success. Taking the example of McDonald, it is one of the leading fast food chain
across the world. The company takes into consideration divisional structure, wherein
different business function have separate division. The marketing department of the firm
works closely with the production department to make sure that suitable research and
development is being done for satisfying the needs and wants of the customers. It makes sure
that taste and preferences of the customers can be met through manufacturing that quality
product. In addition to this, McDonald’s marketing department also works closely with the
finance department for making sure that appropriate budget in meeting out the requirements
for research, promotion and distribution is maintained. The marketing department pays
attention on sales volume as well as share in the market and the finance department
emphasize on flow of case and paying back investment.
Other than this, marketing department as well as human resource function of the
company is also related with each other. HRM department makes sure that right amount of
people with skills are placed in meeting production targets, research and development of new
products as well as development of knowledgeable sales team. Furthermore, the human
resource department has recruitment as well as training demands (Northouse, 2017). This is
required to be balanced to marketing and other departments. Therefore, from the above
explanation it can be said that marketing is nothing but a strategic discipline which reinforces
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most of the business activities and is being regarded as one of the most essential element of
corporate strategy.
3. MANAGEMENT FUNCTION AND THE MANNER ITS MANAGES
BUSINESS
Management is being referred as the social process which encompasses accountability
for effective and economic planning as well as functioning of activities so that pre-
determined goals can be accomplished. There are different functions being performed by the
management and these are planning, organizing, staffing, directing and controlling. All these
functions have different responsibilities. First of all, planning is the fundamental function of
the business which involves what things need to be done and in what manner. It is
accountable for evaluating the internal and external forces that might influence the
implementation of plan related to competition, economic growth and customers (Casadesus-
Masanell and Ricart, 2019). The organising function involves bringing together the physical
resources, human resource and finance for the development of productive relationships
between them to attain the organizational goals. This function is responsible for delegation of
roles, structuring the department and distribution of the authorities. The other function is
staffing which encompasses determining the human resource requirement of the company. It
is responsible for calculating the amount of employees needed to be hired in the organization
and making arrangement for the same. It also involves recruiting, interviewing, staffing,
training and analysing. In addition to this, the other important function of the management is
directing or leading which involves encouraging the staff members of the company towards
the accomplishment of the desired goals. It is responsible for giving direction to the workers,
coaching and supporting them and delegating work and activities to them for carrying out
tasks independently (Manzoor, 2016). The last function of management is controlling that
encompasses giving feedback to the workers and evaluating the results of the primary plans
for determining required alteration. All of these functions are necessary for achieving the
success in the business, however planning and directing are considered very crucial because
the former one helps in giving information to the top level management regarding efficient
utilization of resources and establishment of the organizational goals. On the other hand, the
later one is accountable for motivating workers to work hard and develop effective
communication so that goals are met effectively.
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4. TALENT MANAGEMENT AND ORGANIZATIONAL FUNCTION
Throwing light in relation with talent management, it is being referred as a crucial
element of wider human capital management initiatives. It typically involves hiring of right
people along with their management, development of management policies and strategies and
finally, integrating systems for making strategic business decisions. In talent management,
human resource has a very important role to play (Al Ariss, Cascio and Paauwe, 2017). They
help in validating standards through maintenance of knowledge as well as skilful workers of
the company. Human resource helps in promoting the practices of talent management such as
recruitment of right people at the right time and place, analysing the competencies of the
organization and humanising higher outcomes, determining gaps in talent management
process and undertaking any corrective measures, analysing performance of the workers and
development of retention strategies. Thus, it can be said that HR is necessary rather
indispensable part of talent management.
Organizational culture is defined as an assortment of values, practices and expectation
which helps in informing the actions of all the members of team. In other words, a culture
describes an efficient manner of behaving in an organisation. Culture impacts each and every
aspects of the business. Firms which have a strong and positive culture appeal to many people
to look for an enduring position along with prospect for growth. In addition to this, a positive
organizational culture result into better confidence among them employees along with
enhanced efficiency (Myszak, 2019). In addition to this, all the employees are satisfied with
their job roles and they work really hard for achieving the pre-determined goals of the
company. Seeking help from this culture, companies can create a strong brand identity among
the market. This will also result in decreased turnover of the employees and more and more
workers will be engage with their job and activities which will automatically enhance the
production level and in turn will lead the business to the path of success and growth.
CONCLUSION
Thus, from the above evaluation, it can be said that management function plays a very
important role in each and every kind of organization structure. The success of the business is
majorly reliant on manner these functions are performed and carried out by the top level
management.
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REFERENCES
Books and journals
Al Ariss, A., Cascio, W.F. and Paauwe, J., 2017. Talent management: Current theories and
future research directions. Journal of World Business, 49(2), pp.73-179.
Casadesus-Masanell, R. and Ricart, J.E., 2019. From strategy to business models and onto
tactics. Long range planning, 43(2), pp.195-215.
Daft, R., 2019. Organization Theory and Design. Cengage Learning.
Manzoor, Q., 2016. Impact of Employees Motivation on Organizational Effectiveness.
European Journal of Business Management, 3, pp.36-41.
Mullins, L.J., 2016. Management and Organisational Behaviour. Pearson education.
Myszak, J., 2019. Organizational culture and its influence on the effectiveness of the
company. Management Business Innovation scientific journal, 6, pp.25-29.
Northouse, P.G., 2017. Introduction to leadership: Concepts and practice. California: Sage
Publications.
Online references
The Importance of Culture to Business Success. 2019. [Online]. Available from:
<https://onlinemasters.ohio.edu/blog/the-importance-of-culture-to-business-success/>.
[Accessed on 10thJanuary 2022].
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