09/03/2020

Fields of Business Management You Need to Know

By refita

Business management is the activity of managing a business professionally. Business management includes planning, organizing, implementing, and supervising all lines in the business process to achieve the desired business goals.

Whether it’s a small-scale or large-scale business, everything requires business management to anticipate various risks, and achieve the expected targets. Regarding this, there are several fields in business management that you need to know.

Here are six fields of business management you must have in running a business.

Administration / Accounting Management

Administration/accounting management is an activity that focuses on providing information anything about accounting and administration, which aims to assist management in determining policy lines and daily business operations. This activity includes collecting, recording, grouping, reporting and interpreting the financial and administrative report data. For those of you who want to search for accounting jobs Bangkok, you can search online only at Criterion Asia Recruitment.

Production Management

Production management is the activity of regulating production factors and produce quality products to meet the consumers’ demands. Aspects of production management include planning production design, production of raw materials, product quality, product quantity, and production control and supervision.

Marketing Management

Marketing management is all about planning and determining targets, goals, and results in the field of marketing. The activities in this field include researching on consumers, marketing strategies, analyzing market opportunities and competitors, promoting products, and others.

Distribution Management

Distribution management is a planning activity about the aspect of availability and distribution of goods to consumers. Distribution management is closely related to marketing management. The process of channelling goods to consumers depends on the distribution patterns.

Financial management

Financial management is the activity of managing cash flow effectively and efficiently. It concerns the circulation of income and outcome, cooperating with related parties in terms of finding funds, making investments, setting policies on profit sharing or dividends, and controlling the preparation of financial statements.

Personnel Management

Personnel management is an activity that focuses on managing human resources (HR), namely, labour or employees. Such as employee recruitment, employee quality development, payment of wages or salaries, and integrated HR maintenance.