Functional areas of business

management
Prof. liz morales
1. HUMAN RESOURCES
MANAGEMENT

- is the most important asset in the

business.
- It is a specialized branch of
management concerned with ‘man
management’.
What is the importance of Human Resource
Management?
2. ACCOUNTING DEPARTMENT

- maintaining the company's accounting records day to

day financial transactions of the company

- Part of organization that manages money

- Summarizes the transactions and presents the

information in the form of reports
- The reports draw a picture of the financial status of
the business
FINANCIAL MANAGEMENT
- Financial management can be looked upon as the
study of relationship between the raising of funds
and the deployment of funds.

- Taking charge of the company's financial policies

and strategies, investments, capital structures, and
dividend policies

- Financial management and control

- Financial Planning
Financial management involves mainly
three decisions pertaining to:
1. Investment policies:
It dictates the process associated with capital budgeting and
expenditures. All proposals to spend money are ranked and
investment decisions are taken whether to sanction money for these
proposed ventures or not.

2. Methods of financing:
A proper mix of short and long term financing is ensured in order to
provide necessary funds for proposed ventures at a minimum risk to
the enterprise.

3. Dividend decisions:
This decision affects the amount paid to shareholders and distribution
of additional shares of stock
What is the importance of Financial
Management?
3. MARKETING DEPARTMENT

1. Analyzes, planning, implementing, and controlling

of goods, services, and ideas to create exchanges
that satisfy customer needs and company goals

2. Management of marketing resources, includes

management of salespeople, magement of
advertising and management of marketing research
3. Analyze, plan, and implement marketing programs
that aim to bring about an expected level and mix of
business deals with target markets

4. Stimulate demands for the products of the

company

5. Make crucial decisions that will ensure the

company's competitiveness

6. Make sure that marketing techniques employed

are efficient, effective, and socially responsible or
ethical.
What is the importance of Marketing
Management?
Operations Management functions of
management must include the following:

- Overseeing the transformation processes

that change resources into finished goods and
services

- Improvement of productivity and competitive

advantage

- Managing the sequence of activities and

information along the whole course of the
value chain
What is the importance of Operations
Management?
•It is the process of planning,
organizing, staffing, directing, and
controlling office activities and those
performing them in order to achieve
determined objectives

•It covers managerial efforts over

office work anywhere in the company.
These include the following:

 Developing the organization's hardware, software, and other computing and communicating technology

 Developing the organization's management information system (MIS) tailored to the needs of the firm's units

 Encouraging e-commerce through Internet use.

 What is the importance of ICT?

.Reference: Cabrera, H., Altarejos, A., & Riaz, B. (2016). Organization and management. Quezon City, Philippines: VIBAL
Group Inc.
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ment?qid=32b1c56c-ec95-432e-8bb5-0ccff0ac05
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