Analyzing Managers in Functional Roles

Analyzing Managers in Functional Roles

MGT/ 521

August 3, 2015

Lloyd Krieger

Abstract

This essay covers information regarding the functional skills of a managerial role. The information offers the reader a brief description of all of the areas of business management, and includes some insight on how these areas are connected for a successful business or organization. This article will also help to identify all areas of consideration in becoming a functional manager, as well elaborate about what the role of a manager looks like in today’s businesses.

There are different levels of classification when labeling the roles of management, one classification is the functional role a manager plays in his or her position of management. The definition of management “is someone who coordinates and oversees the work of other people so that organizational goals can be accomplished” (Robbins & Coulter, 2012, p. 5). Within the roles of management, there are many areas of consideration such as accounting, economics, finance, human resources, law, leadership, marketing, operations, research and strategic planning. Not all management positions will be alike, yet all will have the same general functions.

Accounting/ Economics

To be a functional manager in the area of accounting, a person must recognize that there are two areas of concern, first is the area of functional accounting and second is the area of managerial accounting. Functional accounting relates to documentation of financial statements, while financial accounting utilizes these resources to assist in making decisions that are based on the core information. Economics is also very crucial to a functional mangers role, economics is used to monitor the consumption, distribution, and production of said goods and services. This information allows for a manager to take full advantage of profits while controlling marketing environments.

Finance/ Human resources

The department of finance is needed in maintaining fiscal success while allowing a manager to plan possible new aspects for future business opportunities. Part of a growing business is recruiting personal that will benefit the organization, the department of human resources is an area that constructs a process of selection, hiring, useful training and placement of a said employee as well as assuring proper compensation.

Law/ Leadership

Managers are required to abide by the rules of business law when conducting operations that represent the organization. These laws need to be in compliance with all federal, international and federal regulations. Along with following law guidelines, a functional manager also needs to lead his or her employees with inspiration and motivation. Maintaining a stress free workplace while allowing for individuality and growth is important within an organization as well as complying with equal employment opportunities.

Marketing/ Operations

Marketing can make or break an organization, a manager uses marketing to catch the interest of the end consumer purchasing the services or goods. Effective marketing includes promoting, pricing, production and location. Part of ensuring that the goods or services reaches the said destination is operations, this includes predicting possible future sales and needs of the said product as well as planning the process of distribution.