Types Of Management Business
There are different types of management business which is dependent on the nature of business operated. There is production management business, sales management business, marketing management business, human resources management business, and financial management business. The different types of management business are explained below:
1. Production management business
These types of management business are observed in manufacturing companies. The production department is properly managed so that high quality standards are maintained. In the production management business, terms such as business process reengineering, benchmarking, and total quality management are strictly adhered to. The production unit tries to make the best use of raw materials and follow manufacturing procedures in order to maintain a high standard in manufactured goods.
2. Marketing management business
These types of management business take care of all the promotional activities in an organization such as packaging, pricing, and other sales activities.
3. Human resources management business
Here, people under this type of management business are responsible for recruiting, selecting, and maintaining staff welfare in an organization. They can either be part of the organization or a separate entity from the organization. When they are a separate entity, they are referred to as human resource consultants. But as members of an organization, they are known as human resource personnel.
4. Financial management business
The financial managers are responsible for keeping proper records or expenses and income in an organization. Every amount that goes out is recorded and every amount that comes in is equally taken into account. Those in this type of management business are knowledgeable in cost accounting, managerial accounting, bookkeeping, and auditing.
The different types of management business can equally be classified based on areas of management, type of management skills, departmental management, and organizational or field specific management.
Types of management business based on area of management
* Time management
* Stress management
* Personal knowledge management
* Personal information management
Types of management business based on management skills
* Systems management
* Strategic planning
* Strategic management
* Spend management
* Skills management
* Risk management
* Resource management
* Requirements management
* Quality management
* Project management
* Program management
* Process management
* Planning
* Perception management
* Organization development
* Operations management
* Logistics management
* Knowledge management
* Interim Management
* Integration management
* Human interaction management
* Earned value management
* Design management
* Customer relationship management
* Critical management studies (CMS)
* Crisis management
* Cost management
* Constraint management
* Conflict resolution
* Conflict management
* Change management
* Agile management
* Administration
Types of management business based on Departmental management
* Supply chain management
* Records Management
* Product management
* Procurement
* Marketing management
* Information technology management
* Human resource management
* Financial management
* Enterprise content management
* Engineering management
* Communication management
* Accounting management
Types of management business – Organizational or Field specific management
* Talent management
* Public management
* Public administration
* Land management
* Investment management
* Facility management
* Educational management
* Benchmarking
* Balanced scorecard
* Association management
* Analysis paralysis
