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Mgt 521 Functional Areas Of Business

992 words - 4 pages

Functional Areas of Business

University of Phoenix
Management
MGT/521
Kirk Davis
April 21, 2014

Functional Areas of Business
The functional areas of management include law, human resource management, leadership, accounting, finance, economics, research and statistics, operations management, marketing and strategic planning. In large corporations, there may be specific departments to handle each of the functional areas with many levels of management in each area from upper management, mid-level and front line managers. In a small business, these areas are often overlapping and handled by only one or two managers. This paper will focus on small business management functions. As a ...view middle of the document...

The same manager might fill the function of organizing by assigning the various tasks required to individual staff members and then the role of leader as the front line manager of the staff.
"In relation to management problems, a business can be called small mainly because the various functions of management are not big enough to be set up as separate departments, each headed by a trained and qualified expert" (Freedman, 1950). Management in small business can be a complex function with one person writing company policy, acting as human resource manager, and the finance manager combined, often with only on the job training.
A small business still needs to cover all the functional areas of management, so for many it is critical to outsource some of the management needs, for example, in the writers small retail business marketing is contracted out to a small publishing company for a monthly fee, which is more economical than hiring a full time marketing manager. The area of business law is addressed by using a professional service as the need arises.
Mintzberg explains in chapter one of Management, that" management is about influencing action" (Robbins & Coulter, 2010, p. 12), he goes on to say that this is accomplished by managing actions directly, managing people, and managing information that requires others to take action. A good manager will need strong communication skills, the ability to listen well, and the ability to foster teamwork to be able to influence action. A large organization will have managers a several levels, top managers will need broader conceptual skills, while middle managers need more human relations skills, and first line managers usually have stronger technical skills (Robbins & Coulter, 2010).
In contrast, a small business may have only one or two manager who must develop all of the skill sets on a small scale. The manager must motivate the staff, address customer concerns, and handle the financial aspects and strategic planning. Many things are changing in today's business that will have an impact on how managers...

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