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Your assignment is to prepare and submit a paper on management fundamentals. The purpose of the paper is to evaluate the utility of managers within the functional areas of an organization. Most of the
Your assignment is to prepare and submit a paper on management fundamentals. The purpose of the paper is to evaluate the utility of managers within the functional areas of an organization. Most of the companies have mainly four functional areas comprising of production management, marketing and sales, finance and human resources management. These four functional areas are subdivided into a large number of narrow business functions specific to each functional area. It has been observed that the business organizes its structure according to business functions. The business functions which are associated with production management includes the management of material, carry out research and development for refining existing product lines or developing new products. It also includes the task of conducting various quality control tests to ensure customer satisfaction. Thus, the functional area of production management deals with planning the plant layout and deciding about plant locations for different products (Elsy, 2009).
The functional area of marketing management includes the business functions of marketing a product to the targeted consumer segments, sales forecasting, providing customer support and conducting promotional activities, taking sales orders and customer relationship management. Marketing management also involves the responsibility of conducting market research to collect and analyze data about the demand for the products and also the marketing strategies of competitors in similar markets. This also helps the management to design effective marketing mix to promote new products in existing markets or to introduce the existing products in new markets (Lussier, 2011. Boldi, Santini & Vigna, 2009).
 .Human resources personnel are involved in the processes of recruitment and selection, training and development, maintaining organizational culture and wage administration (Robbins et al, 2014).
