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Topic : Functions of Management  👇  

  Management of a modern business enterprise is a complex process. It is very difficult to understand the real nature of this process without studying its various functions. It the process of managing, a discussed performs various for the achievement of objectives. Many scholars have discussed the functions of Management.But there is no universally accepted classification of managerial functions.
               Luther Gulik coined the acronym 'PODSCORB' to describe the functions of Management. This word is made up of the initials of following functions.
⏩ P= Planning : determine objectives in advance & choose                                                  methods  to achieve them;
⏩ O= Organizing : establish a structure of authority for all work;
⏩ D= Directing : make decisions, issue orders ;
⏩ S= Staffing : recruit, hire & train workers ;
⏩ Co= Coordination : interrelate all sectors of the Organization ;
⏩ R= Reporting : Report to the top management ;
⏩ B= Budgeting : An estimate of future needs ;
                 Generally, we can divide the management functions into :

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Topic : Scope of Management..... 👇 

 The scope of Management is wide enough to covet all organised activities & processes.  The scope of Management is also known as branches of management. These are as Under :
⏩ Production Management
⏩ Marketing Management 
⏩ Material Management
⏩ Financial Management
⏩ Purchase Management
⏩ Personal Management
1. PRODUCTION MANAGEMENT
         Production management is concerned with the manufacture of goods & services. It deals with the co-ordination of production operations of an enterprise. The main problems involved in production management are plant location & layout, production, plant facilities, purchasing & inventory control, quality & cost control repair & maintenance etc.

2. MARKETING MANAGEMENT
            Marketing is a process which carries goods from producer to consumer. Marketing bridges the gap between consumer & producer, In marketing management  decisions have to be made regarding product design, brand name, pricing, channels of distributions, advertising & sales promotion.

3. MATERIAL MANAGEMENT 
         Material management is concerned with control of materials in such a manner, which ensures maximum return on working capital, Material management includes scientific purchasing, storage & handling of materials with minimum wastage.

4. FINANCIAL MANAGEMENT
         Financial management refers to the procurement & effective utilisation of funds required in business. finance is the life blood of an Organization. No business can run smoothly without finance.
 5. PURCHASE MANAGEMENT 
         Purchase manager is concerned with the procurement of proper equipment, materials & supplies of the quantities at the prices & at the right time. The purchase department is linked very closely with the production department. Purchasing is responsible for spending the largest portion of a company 's budget.

6. PERSONAL MANAGEMENT
             Personal management deals with people. It consists of managing the human resources. Personal management is concerned with the recruitment, selection  development, comparison  wages & salary administration, performance appraisal & industrial relations etc.

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