An acceptable and practical classification includes four broad functional areas :-
(i)
Production : This area is normally kept under the control of a production
manager who is responsible for the performance of entire related activities.
This
area may further be classified into major sub-activities :-
•
Purchasing
•
Material Management
•
Research and Development
(ii)
Marketing : This area involves the distribution of organization’s product to
the buyers. This can be divided into following subareas :-
•
Advertising
•
Marketing Research
•
Sales Management
(iii)
Finance and Accounting : This area deals with the record keeping of various
transactions and management of financial resources :-
•
Financial Accounting
•
Management Accounting
•
Costing
•
Investment Management
•
Taxation
(iv)
Personnel : This aspect deals with the management of human beings in the organization.
It includes following areas :-
•
Recruitment and Selection
•
Training and Development
•
Wage and Salary Administration
•
Industrial Relations