Function of Modern Management

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In a modern perspective, assuming that production is only induced by the application, the management is reduced to two functions: marketing (and sales), finance, organization by the quality management (logistics, management of system information and human resources).

Similarly, Fayol states that management must achieve:
  • Estimates (management ensures effective business strategy by business valuation)
  • Organization
  • Command
  • The coordination (logistics and management information system)
  • The control (control of wider management and financial analysis)

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