Financial Issues, Marketing Function and Human Resources in Management Essay

Financial Issues, Marketing Function and Human Resources in Management - Essay Example Organizing: Organising refers to the process of grouping the related activities and assigning them to a manager with authority to supervise it, organizing is an essential function that makes the plans operational by identifying and classifying necessary activities. 3. Staffing: Ascertain how many positions are there in the organization and at what level. Once this information is available, the next task is to collect details such as what type of candidates is required for each position, and accordingly, fill up these positions with the right people. Staffing is a process which includes recruitment, selection, training, placement, appraisal, promotion, and career planning. 4. Directing: After filling the positions in the organization with the right kind of people, the next task is to guide and enable them to achieve the common goals. It Includes;(a). Leading: It is a decisive function of the management in which the worker's employees are led and directed so that the objectives of the organization will be successfully achieved. (b). Motivating: It is one of the most important processes which are stimulating the employees to perform more effectively using their abilities and full potential. (c). Communicating: It is a process of creating, transmitting, and interpreting messages, ideas, facts, options, and feelings.(d). Coordinating: It is a process of measuring the current performance of the employee and assesses whether the given objectives are achieved or not.Now we shall discuss the issues in the management.... successfully achieved. (b). Motivating: It is one of the most important processes which are stimulating the employees to perform more effectively using their abilities and full potential. (c). Communicating: It is a process of creating, transmitting, and interpreting messages, ideas, facts, options and feelings. (d). Coordinating: It is a process of measuring the current performance of the employee and assess whether the given objectives are achieved or not. Now we shall discuss about the issues in the management which a manager should consider and study deeply when planning development, we will begin with the financial issue which should be considered first as no firm can run nicely without enough finance. Financial management is a service activity which is associated with providing quantitative information, of financial nature and that this may be needed for making economic decision regarding the choice among alternative course of actions. Financial management is that specialized function of a general management which is related to the procurement of financial and its effective Utilization for the achievement of the goal of the organization.In the past few years financial management has undergone significant changes as regards its scope and coverage. As such the role of finance manager has also undergone fundamental changes over the years. Profit maximization is not considered as basic idea for making investment and financing decision. The financial management of a firm has to make three important decisions. (1) Investment decision i.e., where the invest funds and in what amount. (2) Financing