Management Functions

Management Functions

A large-scale organisation typically consists of five main management functions, which are essential for the successful running of an organisation. These include:

Operations Management Function

The Operations Management Function refers to the functional area that is responsible for producing the goods or providing the service that the organisation is known for. (This is the focus of Unit 3, Area of Study 3)

Finance Management Function

The Finance Management Function is the functional area that is responsible for managing money and preparing the budgets of the organisation.

Human Resources Management Function

The Human Resources Management Function refers to the functional area that is responsible for managing employees of the organisation. (This is the focus of Unit 4, Area of Study 1)

Research and Development Management Function

The Research & Development Management Function is the functional area responsible for improving the current goods and/or services of the organisation and developing new lines that can be produced and sold by the organisation.

Marketing Management Function

The Marketing Management Function refers to the functional area that is responsible for selling the goods and/or services to the consumers