Functional Areas of Management

Financial Management: Financial management includes forecasting, cost control, management accounting, budgetary control, statistical control, financial planning etc.
Human Resource Management: Personnel / Human Resource Management covers the various aspects relating to the employees of the organization such as recruitment, training, transfers, promotions, retirement, terminations, remuneration, labour welfare and social security, industrial relations etc.
Marketing Management: Marketing management deals with marketing of goods, sales promotion, advertisement and publicity, channels of distribution, market research etc.
Production Management: Production Management includes production planning, quality control and inspection, production techniques etc.
Material Management: Material management includes purchase of materials, issue of materials, storage of materials, maintenance of records, materials control etc.
Purchasing Management: Purchasing management includes inviting tenders for raw materials, placing orders, entering into contracts etc.
Maintenance Management: Maintenance Management relates to the proper care and maintenance of the buildings, plant and machinery etc.
Office Management: Office management is concerned with office layout, office staffing and equipment of the office.