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Types of Management and Their Brief Explanation

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Types of managementManagement science is an effort that regulates everything that runs a business to achieve the goals that have been set.

All of these business arrangements are intended so that the company can run well and achieve the planned goals.

Understanding management, in general, can be interpreted as the art of completing work using other people. Usually, this is done in an organization or company to achieve the goal.

At this time management science has developed very rapidly and has been divided into many scientific branches.

The development of this management science branch is used to facilitate various jobs, especially in maximizing and optimizing all resources within the company.

Various management and explanations

Management science currently has many branches but only a few branches of popular management science, including:

1. Production management

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Production management is a branch of management science that has the function to coordinate all activities to achieve goals.

Usually, production management is related to decision-makers related to the production process to achieve the goals of the organization or company.

One of the company’s successes in winning the business competition is the ability to create effective and efficient standards and production systems.

In designing an effective and efficient production system they must pay attention to the choice of raw materials, production sites for the final product yield.

Poor production activities can be a cause of stockpiling, resulting in companies experiencing a waste.

Poor production management can also result in the low quality of the products produced so that the product is difficult to compete in the market.

The production management team must have the competence to determine the location of the factory, design the layout of production equipment, production planning, production processes, maintenance techniques and understand about material requirements planning, etc.

2. Human Resource Management (HRM)

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Human Resource Management (HRM) is a branch of management science that studies about how to regulate relationships and the role of labor (resources) that individuals have effectively and efficiently and are used optimally to achieve goals.

The HR management team has an obligation to manage all human resources so that they can work with good and productive quality.

The important role of the HR management team must have the ability such as selecting new employees, assessing employee performance and planning career plans for all employees in the company.

The HR management team must also be able to maximize all existing human resources in the company so that their performance is effective and efficient to achieve goals.

3. Marketing management

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Marketing is a company activity that is the spearhead of the company to survive and also develop and gain profits.

Marketing management can be defined as the process of determining the marketing objectives of an organization by considering the available resources and market opportunities.

The thing that must be considered in planning and also implementing to achieve the goals and measuring its achievements.

Some things that must be mastered by someone who wants to be part of marketing management such as internet marketing, product branding, relational marketing, etc.

In addition, the marketing management team must also master marketing communications, pricing policies, predict sales, business statistics and management of purchases and sales.

This marketing activity must also be able to provide customer satisfaction so that the business can last long and consumers have a positive view of the product being marketed.

4. Financial management

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At this time many consider that financial management is just an act of recording financial activities.

Though this assumption is not entirely correct because management has a broad understanding and has a vital function in a business.

Financial management can be defined as activities of planning, checking, budgeting, managing, searching, controlling and also storing funds owned by companies or organizations.

All parties involved in financial management have a responsibility to ensure that the business activities carried out can achieve their objectives economically and have profit.

The financial management team must have capabilities such as risk management, international financial management, capital and investment markets, etc.

This is due to the amount of responsibility that is borne by the financial management for the continuity of the company or organization.

The point is that a financial manager must really understand to manage all the finance owned by the company because finance is an important thing to achieve company goals.

A financial manager must know the overall financial activities of the company, especially analyzing the source of funds and their use to realize the company’s goals.

Activities carried out by the financial management team are usually related to the use of funds, fund acquisition, and asset management.

5. Information management

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Information management can be interpreted as data management which consists of the process of finding, compiling, classifying and showing all data related to company activities.

With the information presented, it can be used as a basis for making decisions by management.

Information management can also be interpreted as planning part of the internal control of a business consisting of documents, technology, people and procedures by accounting for problem-solving such as services, product costs, and business strategies.

The responsibility for information management is to ensure that every activity carried out by the company can last for a long time. For that information management must present information needed by the company.

A person who is responsible in the field of information management must be able to work together with the team, develop a business plan, master the concept of networking, master the program’s language and language, etc.

6. Strategy management

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Strategic management is the art or science of preparing, implementing, implementing and evaluating cross-functional decisions so as to enable an organization to achieve its goals (David, 2011: 6).

The focus of strategic management is on the process of determining the goals of the company (organization), policy development, planning and allocation of resources to realize all policies and planning the achievement of company goals (organization)

Strategy management is a combination of activities from all functional parts of a business to achieve company goals.

7. Operations management

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Operations management is a business area that only focuses on the production process and ensures that maintenance and development can take place efficiently and effectively.

The definition of operations management is different from operational management because the scope of operations management is narrower compared to operational management.

If operational management can manage all matters related to company activities, operations management only has a focus on production activities.

Operations managers have the responsibility to manage the process of converting inputs (material, labor, and energy) into output (goods or services).

 

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Such is the discussion about the Types of Management and their brief explanation. Hopefully, this article can add insight to you.

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