2. Business management is a complex subject.
Many problematic matters have to be
encountered in the process of business
management. Many functional areas have to be
successfully managed before the aim of the
business is completed. In other words, business
cannot be successfully carried on only with the
management of a single subject or working in a
single area.
3. Grouping of individuals on the basis of
the function each performs in
the organization, such
as accounting, marketing, manufacturing.
or Grouping of activities or processes on the
basis of their need in accomplishing one or
more tasks.
4. Functional area of business refers to the
academic discipline of accounting, finance,
marketing, personnel study or human
resource management and production.
These disciplines study the business
environment in which the firm operates. So,
they provide the background for managerial
decision making.
5. Finance
Human Resource
Administration
Production/ service
Marketing
Sale
Customer Service
Research and Development
6. 1.Finance:
Finance means having to do with money: the finance
department deals with the organization’s spending and
receipts.
For example, obtaining financial information from
different departments.
7. It is a department that deals with employees. For
example, taking on a new employees, training
employees, keeping record of old and present
employees etc.
8. It means general tasks involved in running an office.
The main role of administration department is to
provide centralised office services for all the other
departments in the business. For example, collecting
and distributing mail or with responding enquiries.
9. In business which create products, the main function
is known as the production function. Business that
provide service are known as the service function. For
example in a shoe factory, production will involve
turning leather (raw material) into shoes(finished
products). For a bank, the main function will be
providing banking services.
10. The marketing department deals with publicity and
finding out about customer's needs. They also
promote products, for example: sending out
questionnaires to customers.
11. The sales department deals with selling of products
or services. Sale includes direct interaction with
customer service.
12. The customer service deals with customer’s
information, service and advice. It also deals with
queries, complaints, providing after-sale services in
the form of technical help or organization
replacement of items. Large businesses may have a
customer helpline or/ and a website.
13. In today’s competitive world it is very essential to be
ahead of competitors. Business organizations strive
to introduce new products, new concepts and
innovations. Research and development department
works to this goal.
