OUTLINE OF DIFFERENT

MANAGEMENT FUNCTIONS
IN PRODUCTION
MARKETING SALES
ADVERTISING SHARES &
By
STOCKS
Gnanesh.B

DIFFERENT MANAGEMENT
FUNCTIONS
A definition:
Management is creative problem solving.
This creative problem solving is
accomplished through four functions of
management: planning, organizing,
leading and controlling. The intended
result is the use of an organization's
resources in a way that accomplishes its
mission and objectives.

 Planning
Organizing
Staffing
Directing
Controlling

Planning
Planning is the ongoing process of

developing the business' mission and

objectives and determining how they
will be accomplished. Planning
includes both the broadest view of
the organization, e.g., its mission,
and the narrowest, e.g., a tactic for
accomplishing a specific goal.

Organizing
Organizing is establishing the internal

organizational structure of the organization.

The focus is on division, coordination, and
control of tasks and the flow of information
within the organization. It is in this function
that managers distribute authority to job
holders. It also involves assigning tasks to
various individuals for the larger goal of
organization's missions and objectives.

Staffing
Staffing is filling and keeping filled with

qualified people all positions in the business.

Recruiting, hiring, training, evaluating and
compensating are the specific activities
included in the function. In the family
business, staffing includes all paid and unpaid
positions held by family members including
the owner/operators. Staffing is the process of
choosing right people for organization. It can
be associated with human resource
management

Directing
Directing is influencing people's behavior through

motivation, communication, group dynamics,

leadership and discipline. The purpose of directing is
to channel the behavior of all personnel to
accomplish the organization's mission and objectives
while simultaneously helping them accomplish their
own career objectives. Directing is guiding people in
the organization through the means of counseling,
instructing, motivating and various other modes of
communication. It helps in channelizing the activities
and conduct of employees so that organizational
goals can be accomplished.

Controlling
Controlling :is a four-step process of establishing

performance standards based on the firm's

objectives, measuring and reporting actual
performance, comparing the two, and taking
corrective or preventive action as necessary.
Controlling is the sum total of process which
ensures all the plans are executed and
implemented in the desired way. It also decides
about whether some corrective and preventive
methods need to be taken. It is meant to ascertain
problem areas and remedial measures.
Apart from these, minor functions include
reporting, budgeting and co-coordinating which
are designed to perform specific functions.

Aims and functions of

production
Production is the functional area responsible

for turning inputs into finished outputs

through a series of production processes. The
Production Manager is responsible for making
sure that raw materials are provided and
made into finished goods effectively. He or
she must make sure that work is carried out
smoothly, and must supervise procedures for
making work more efficient and more
enjoyable.

Five production subfunctions

In a manufacturing company the production

function may be split into five sub-functions:

1. The production and planning department will
set standards and targets for each section of
the production process. The quantity and
quality of products coming off a production line
will be closely monitored. In businesses
focusing on lean production, quality will be
monitored by all employees at every stage of
production, rather than at the end as is the
case for businesses using a quality control
approach.

 2. The purchasing department will be

responsible for providing the materials,

components and equipment required to keep
the production process running smoothly. A
vital aspect of this role is ensuring stocks
arrive on time and to the right quality.

 3. The stores department will be responsible

for stocking all the necessary tools, spares,
raw materials and equipment required to
service the manufacturing process. Where
sourcing is unreliable, buffer stocks will need
to be kept and the use of computerized stock
control systems helps keep stocks at a
minimal but necessary level for production to
continue unhindered.

 4. The design and technical support department

will be responsible for researching new products or

modifications to existing ones, estimating costs for
producing in different quantities and by using different
methods. It will also be responsible for the design and
testing of new product processes and product types,
together with the development of prototypes through
to the final product. The technical support department
may also be responsible for work study and
suggestions as to how working practices can be
improved.

 5. The works department will be concerned

with the manufacture of products. This will

include the maintenance of the production
line and other necessary repairs. The works
department may also have responsibility for
quality control and inspection.

SALES MANAGEMENT
Sales management sales management
is attainment of an organization's sales
goals in an effective & efficient manner
through planning, staffing, training,
leading & controlling organizational
resources. Revenue, sales, and sources
of funds fuel organizations and the
management of that process is the most
important function.

Advertising management
Advertising is a management function. While

advertising is the event, advertising management is

the whole process - a function of marketing starting
from market research continuing through advertising
leading to actual sales or achievement of objective. It
goes further in regard to evaluation of the whole costbenefits that were involved in the whole exercise. This
means that if there is a public service ad with an
objective to increase domestic saving, the evaluation
would take place in terms of the actual increase in
domestic savings as can be found from banks and
other financial institutions. If it's about launch of a
new product, then the evaluation would be in terms of
benefits derived from the cost sunk in the advertising
campaign. Advertising management incorporates
various specialized sub-functions like media strategy,
message strategy, media planning, media buying etc.

Marketing management
During the first half of this century, the

administrators and managers were purely

production oriented and the field of functions
of marketing was completely neglected. As
the saying goes troubles and difficulties are
no mans concern, they slowly began to
understand identify and analyze the
importance of marketing functions during the
fifties when they faced the problems of
excess production.

STOCK MANAGEMENT
Stock management is the function of

understanding the stock mix of a

company and the different demands on
that stock. The demands are influenced
by both external and internal factors
and are balanced by the creation of
Purchas order requests to keep supplies
at a reasonable or prescribed level

Stocks and Shares

Stocks and Shares are the two sides of the same

coin. Basically, they both mean the same thing. The

difference between the two lies in the technical
definition of the two.
When an investor holds the ownership certificates
of a particular company then it is known as Shares.
Stock is a general term for Shares. Stock is the
ownership of certificate (either in physical or
dematerialized form) of any company. Hence we
can say that Stock is the share of any company.