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B.A. - Chapter 7 - Functional Areas of Management - Coggle Diagram
B.A. - Chapter 7 - Functional Areas of Management
Management
Traditional concept
Management is the art of getting things done through others.
Modern concept
Management is defined as the process to get the things done with the aim of achieving goals effectively and efficiently.
Definition of management:
“Management is the process of designing and maintaining an environment in which individuals, working together in groups, efficiently accomplish selected aims”
- Koontz
Business Function:
A process performed on a routine basis to undertake a part of the mission of an organisation.
Production Management:
Production:
Converting inputs to outputs through the production process i.e. manufacturing, creation or building.
Production Management:
Responsible for production planning and control, quality control, procurement of raw materials and storage of raw materials, etc.
Objectives
Right quantity (control supply to prevent blockage of inventory or excess demand)
Right quality (Satisfy)
Right price (Set cost and stick to production budget)
Right time (working under time limit, resources planning)
Functions
Production design (creating a new product)
Location and layout of plant (location as per proximity to resources, urban/rural, etc. Physical arrangement to increase productivity and smooth workflow.)
Procurement and storage of raw materials
Planning of factory operations (reduce cost and increase output)
Inventory control (supervision of supply, storage and availability of items to ensure right quantity)
Quality control
R&D
Maintainance of factory equipment (for effective and wron)
Financial Management
Finance is the lifeblood of any business