Areas of Management

Date: 2015-10-07; view: 744.

Read the text and do exercise 2.36.

Words and word combinations on the text.

Text 4. Areas of Management

An organizational structure can also be divided more or less horizontally into areas of management. The most common areas are finance, operations, marketing, human resources, and administration. Depending on its purpose and mission, an organization may include other areas as well—research and development, for example, or risk management.

A financial manager is primarily responsible for the organization's financial resources. Accounting and investment are specialized areas within financial management.

An operations manager creates and manages the systems that convert resources into goods and services. Traditionally, operations management is equated with the production of goods. However, in recent years many of the techniques and procedures of operations management have been applied to the production of services and to a variety of nonbusiness activities.

A marketing manager is responsible for the exchange of products between the organization and its customers or clients. Specific areas within marketing are marketing research, advertising, promotion, sales, and distribution.

A human resources manager is in charge of the organization's human resources programs. He or she engages in human resources planning, design systems for hiring, training, and appraising the performance of employees.

An administrative manager (also called a general manager) is not associated with any specific functional area but provides overall administrative leadership. A hospital administrator is a good example of an administrative manager.