Monday, June 15, 2009

Scope of business management

Scope means the total area of management in which management is activate . The scope or area of management is very large . From India to USA , management is needed in every type of business . So , its scope can not be bounded in boundaries . But we can write main fields or area of business management

1. Research and development management

In this area , manager is responsible for doing all activities of research and development of business . For this company provides him all facilities like lab , search equipments and other books . Its main aim is to reduce the cost of business and increase the efficiency of business .

2. Financial management

In this area , manager is responsible to make ideal capital structure . Effective utilisation of financial and operating leverage in business . He also calculates different cost of capital and different values of different techniques of capital budgeting for selecting good investment proposal .

3. Production management

In production management , manager is responsible to provide all raw material , labours to production department . He spends his time to reduce the cost of production and observes all the activities of production .

4. Personnel management

Under this management , manager is responsible to recruit , selection , training of employees . He provides all facilities to employees for making ideal working environment . He does also works for benefits of employee and employer . He makes different policies relating to salary and promotion of employees on the basis of work analysis .

5. Marketing management

Marketing management is that functional area of business management , in which manager is responsible to reach product from production to customers . He works for business as best link between business and customers and makes good relationship with employees .

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