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In profitable organizations, management's primary function is the satisfaction of a range of stakeholders. This typically involves making a profit (for the shareholders), creating valued products at a reasonable cost (for customers), and providing great employment opportunities for employees.
Operations management covers sectors like banking systems, hospitals, companies, working with suppliers, customers, and using technology. Operations is one of the major functions in an organization along with supply chains, marketing, finance and human resources.
Control (management) Control is a function of management that helps to check errors and take corrective actions. This is done to minimize deviation from standards and ensure that the stated goals of the organization are achieved in a desired manner. According to modern concepts, control is a foreseeing action; earlier concepts of control were ...
In simple words, office management can be defined as “a distinct process of planning, organizing, staffing, directing, coordinating and controlling office in order to facilitate achievement of objectives of any business enterprise’ the definition shows managerial functions of an administrative manager. Following diagram indicates various ...
The administration of a business includes the performance or management of business operations and decision-making, as well as the efficient organization of people and other resources to direct activities towards common goals. In general, "administration" refers to the broader management function, including the associated finance, personnel and ...
Functional management. Functional management is the most common type of organizational management. The organization is grouped by areas of speciality within different functional areas (e.g., finance, marketing, and engineering). Some refer to a functional area as a "silo".
Functional manager. A functional manager is a person who has management authority over an organizational unit—such as a department—within a business, company, or other organization. Functional managers have ongoing responsibilities, and are not usually directly affiliated with project teams, other than ensuring that goals and objectives ...
Fayolism. Fayolism was a theory of management that analyzed and synthesized the role of management in organizations, developed around 1900 by the French manager and management theorist Henri Fayol (1841–1925). It was through Fayol's work as a philosopher of administration that he contributed most widely to the theory and practice of ...