In this blog, we have shared some of the branches of the management that are taught in the schools across the world. Read further to know more:
1. Human Resource Management
Human resource development or in professional terms, personnel management or manpower management is primarily concerned with obtaining and maintaining satisfactory workforce, i.e., the employees. This particular field specialises in the branch of management that is mainly concerned with ‘people management.'
Under this branch, students are introduced to the various fields of recruitment, placement, induction, orientation, training, motivation, promotion performance appraisal, wage and salary, transfer, merit-rating, industrial relations, working conditions, safety and welfare schemes of employees and much more. The main objective of this type of personnel management is to create and promote a team spirit among the workers and managers.
2. Production management
Production management is mainly concerned with planning, organization, direction, coordination and control of the production function of a corporate organisation in such a manner that the desired goods and services can be produced and manufactured all at the right time, in right amount and quantity, and at the right price. Moreover, there are also some people who treat material, purchase and inventory management as a part of the production management process.
3. Marketing management
The field of marketing management generally includes the study of marketing concepts, consumer behaviour, market segmentation, marketing mix, product and price decisions, promotion and physical distribution, international marketing, research, and information, etc.
Modern marketing management is concerned with bridging the gap between demand and supply through the process of de-marketing, remarketing, over-marketing and meta-marketing. Moreover, modern marketing, right from the societal point of view is that force which harnesses a nation’s industrial capacity in order to meet the needs and wants of the society.
4. Office management
Office management in general terms can be rightfully defined as, “the organization of a company so as to achieve a specific purpose and to make the proper use of personnel just by using the appropriate machines and equipment.”
The main topics that are included in the office management are related to office accommodation, communication, handling correspondence and mail, typing and duplicating, layout and environment, indexing, record management and filing, forms and stationery, machines and equipments, office reporting, O & M, work measurement and office supervision.
5. Financial management
Financial management can be rightfully looked upon as the study of the relationship between the raising of funds and the deployment of funds. The subject matter of financial management goes by the terms of portfolio management, capital budgeting, cost of capital, dividend policy, short and long-term sources of finance and others.
Hope you might have got insight into the various branches of management and how they play an important role in running an organisation. If you are stuck in your management assignment, then you can take assistance from the online management assignment help to cater to your academic issues.
Ref: http://www.articles.studio9xb.com/Articles-of-2019/look-beyond-books-and-deliver-top-grade-business-law-assignment
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