#2.4 : Functional Areas of Management Flashcards
Is the functional management area that is closest to customers. Its activities relate to identifying customers’ needs and interpret these back to the enterprise for its business reaction.
Marketing Management
Marketing Management includes the following:
- Product/Service Planning *Promotions
- Market Research *Pricing
- Customer Service *Distribution
Operations Management jobs in service industries include:
- transaction processing (banks)
- crew scheduling
- communications & dispatching (transport services)
- efficient use of machines, space, and personnel (manufacturing)
Deals with formal systems for the management of people within an organization. It is the most important asset of all organizations.
Human Resources Management
They take charge of investments, use of funds, distribution of income.
Finance Person
Finance Person bears the title
Chief Financial Officer
CFO is in direct charge of
Cash, Credit & Accounting
Technology is often synonymous with _________ or change.
innovation
_______ __________ ________ position has seen increasing acceptance in recent years.
Chief Technology Officer
Critical Factors that could be considered in the management of technology include:
- Anticipated market repetitiveness
- Technological feasibility
- Economic viability
- Anticipated competency development
- Organizational suitability
Many times our _______ __________ ______ are satisfied with income from employment.
basic psychological needs
As we move up the ______ ___ _____, we desire to extend to others for their material needs.
hierarchy of needs
Ownership is within the family.
Family Business
Participation in a family business may be
full time or part-time
Is an agreement between a franchisor and the franchisee.
Franchising
