Functional areas

WHAT IS THE ROLE AND ACTIVITIES ASSOCIATED WITH EACH FUNCTIONAL AREA?... various functions of a business. Human resources management. HRM. Marketing management,. Operation management. Financial management. Office management.

1. What is the role and the activities associated with each functional area?

2. Function – is a specific means employed by business to carry out a set of common tasks grouped according to kinds of knowledge and techniques specific to it. Various Functions of a Business

3. Human Resource Management Marketing Management Operations Management Financial Management Material and Procurement Management Office Management Information & Communication Management

4. Human Resource Management ACTIVITIES : It involves attracting, retaining and developing competent human resources that contribute to organizational attainment. OUTCOME : Productivity among human resources is achieved.

5. HRM

6. mARKETING management ACTIVITIES: Organizations develop, price, and distribute products to customwers through the anticipation and identification of consumer needs and wants OUTCOMES : Increase sales, increase profitability, maintain market share, target new markets, and improve the image of the product or the organization

7. NEED, WANT, DEMAND EXCHANGE AND TRANSACTION

8. Operations Management ACTIVITIES: Provides goods and services to customers. OUTCOMES: Inputs are transformed to outputs that create value for the organization

9. Financial Management ACTIVITIES: Tapping different sources of funds at a cost and level of risk which the organization can tolerate - Invests funds at attractive returns and manageable level of risks. OUTCOMES: Risks taken by the firm are managed

10. Material and procurement management ACTIVITIES : Concerned with the management of the flow of materials from initial purchase to the service point. OUTCOMES : The right quality and amount of material are acquired by the organization at the right time, right place, and for the right cost.

11. Office management ACTIVITIES: Involves the design, implementation, evaluation, and maintenance of work processes within an office. OUTCOMES: Offices in the organization run efficiently

12. information and technology management ACTIVITIES: The use of information and communication technology to obtain data needed for decision making. OUTCOMES: Communication and information sharing among functions is facilitated.