Sales and Marketing Management
Marketing entails a marketing campaign in which all the departments, ranging from design to distribution, work towards meeting the objectives of marketing, keeping the client's wishes in mind.
The purpose of marketing is to provide customers with the goods and services they want, and where they want at a price suitable both to customers and the company.
The marketing function involves market research, product development, promotion, pricing and sales and distribution. Market research gives a database to managers with information about customer's preferences.
As far as product development is concerned, the marketing manager communicates the customers' requirements to the design and production department.
Marketing managers have to ensure that the demand and supply is maintained. They analyse the effectiveness of the sales promotion campaign and help in planning future production.
In some companies, sales and marketing roles are combined and the marketing manager takes personal accountability for sales.
Finance Management
Practically, every firm, whether in manufacturing, healthcare, education, communications or finance, has one or more finance managers working as credit managers, treasurers, controllers and cash managers who are required to prepare the financial reports needed for tax and other regulatory demands.
Not only this, finance managers oversee the flow of cash and finances while developing information to assess the present and futute financial status of the firm.
Personnel management
Personnel department deals with the recruitment, training, placement, promotion and movements within the industry. Mostly, it has been obseved that many large companies do not permit close contact between top management and other employees.
Here the personnel and labour relations managers, commonly known as human resource specialists provide the link.
Personnel officers are specialists of the management team who help to make the most effective use of the available work force. They are responsible for selecting right people and helping to make sure that they are managed effectively. In an effort to improve morale and productivity, they also help management make effective use of employee's skill and help employees find satisfaction in their jobs and working conditions.
Material management
Material management involves coordination of planning, sourcing, purchasing, moving, storing and controlling materials. The idea behind material management is to provide a product at minimum cost. The significant contribution made by the materials manager in reducing cost of materials helps in improving profitability and returns on investment.
The people in materials department of a commercial organisation are generally the material managers assisted by stores manager, purchase manager, inventory control and information manager.
Production management
Production management is the process by which the physical output of a business organisation is planned. Production management includes
Product research
Development and design
Design specification
Process development
Material procurement
Standardisation
Inspection and testing
Quality control
Cost analysis
Export management
Many changes have taken place in the methods and approaches to the management of international business. From a simple marketing activity, it has become an integral part of trade and economic linkages between different countries.
Export management deals with the professional handling of international business. Negotiating trade deals and expediting transactions are the chief tasks of an export manager. Export managers wirk with MNCs, national export houses, banks etc.
