ADMINISTRATIVE MANAGEMENT
Administrative management
It is also known as functional or process approach, is primarily based
on the ideas of Henri Fayol. He is the father of modern management.
Fayol explained that management is universal.
He grouped all the activates of an
organization into 6.
1)
Technical
this area is concerned with
manufacturing products
2) Commercial
it involves purchasing of raw
material for the products and selling
the finished products.
3) Financial
accruing capital and allocating recourses and keeping an overview
control of the flow of capital.
4) Security
production and safety of goods and people
5) Accounting
recording and taking stock of costs, profit, liabilities, assets,
preparing balance sheets
6) Managerial
managerial function of planning , organizing, commanding coordination
and control
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