RELATIONSHIP WITH OTHER MANAGEMENT AREAS :

RELATIONSHIP WITH OTHER MANAGEMENT AREAS

Managers in a business enterprise have to perform certain functions which are known as function areas of management.

They are production, marketing, and personnel management. Financial area is one such functional area

In this there is a close relationship between finance function and other functional area of management

Marketing Areas

Presonnel areas

Production Areas

After fianance function It is one of the main activity of the manufacturing unit.

The decisions regarding production determine the requirements of fixed and working capital.

When the changes are effected in the areas of production, i.e, when decision are taken about expansion of production diversification or introduction of a new product, the requirement of fianance also changes according to it.