Functional Areas of Management Quiz

______ is the process of planning, implementing, and evaluating the strategies and activities related to the marketing mix (product, price, place, and promotion) of an organization. The main goal of marketing management is to create and satisfy the needs and wants of the customers and stakeholders.

______ is the process of designing, managing, and improving the production and delivery of goods and services. The main goal of operation management is to ensure the efficiency, effectiveness, and quality of the operations.

______ is the process of planning, organizing, directing, and controlling the financial resources and activities of an organization. The main goal of financial management is to maximize the value of the organization and ensure its financial stability and profitability.

______ is the process of acquiring, storing, and distributing the materials and supplies needed for the operations of an organization.

______ Functional areas of management

Material and procurement management is the process of optimizing the cost, quality, and availability of the materials and supplies. The main goal of material and procurement management is to ______ the cost, quality, and availability of the materials and supplies.

Office management is the process of organizing, coordinating, and supervising the administrative and clerical functions of an organization. The main goal of office management is to ensure the ______ and effective functioning of the office and support the other functional areas.

Information, Communication and Technology (ICT) management is the process of planning, developing, implementing, and maintaining the ICT systems and infrastructure of an organization. The main goal of ICT management is to enhance the ______, information, and knowledge sharing among the internal and external stakeholders of the organization.

Human resource management (HR) is the process of managing the human capital of an organization, including the recruitment, selection, training, development, motivation, performance appraisal, compensation, and retention of the employees. The main goal of human resource management is to attract, develop, and retain the best talent for the organization and create a positive work environment and ______.

Marketing management involves developing and implementing strategic marketing programs, processes, and activities that align with wider business objectives, while utilizing customer insights, tracking metrics, and optimizing internal processes to achieve ______.

Marketing management is important because it is the key to organizational goal attainment, customer satisfaction, and ______.

The marketing management functions of management include the following: 1. Analyses, planning, implementing, and controlling of goods, services, and ideas to create exchanges that satisfy customer needs and company ______.

The marketing management functions of management include the following: 2. Management of marketing ______.

The marketing management functions of management include the following: 4. Stimulate demands for the products of the ______.

How research and development helps the marketing department achieve its goal. It allows a company to stay ahead of its ______.