Functional Areas of a Business

• There are three main functional areas of a business: production management, marketing management and human resources management
• production management refers to planning, organisation, direction, coordination and control of the production functions in such a way that desired goods and services could be be produced at the right time, right quantity and right cost.
• production management includes the following functions: product planning and development, plant location, layout and maintenance, production systems and machines, management of purchases and storage of materials, ensuring effective production control
• through marketing management, marketing professionals determine the products that their companies introduce to the marketplace, often using marketing research surveys to determine what consumers need and want.
• marketing managers also decide which types of advertising and promotions their companies are to use to reach their target when launching products.
• human resource management or personnel management is concerned with obtaining and maintaining a satisfactory and satisfied workforce i.e employees. it is a specialized branch of management concerned with human resources.