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Accounting, Marketing, and Management in the Organization

Introduction

An organization is a complex system that is made up of integrating structures, systems, and applications that are represented in form of roles and functions as indicated in the organizational structures and departments/ functions. Departmentalization, therefore, is the process via which the tasks and applications in an organization are subdivided and grouped into distinct but interacting functions and which are represented in terms of function in the organizational structure. Such functions include marketing, finance, human resources, accounting, research, and development among others. The functions operate as distinct units with specified roles and responsibilities, characteristic of different tasks that they undertake but which are all geared towards the achievement of unified organizational objectives, mission, and vision. This paper, therefore, presents an overview of organizational systems and application; marketing accounting and management in particularity

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Management

Management is generally a combination of all activities that are performed in the organization with the objective of achieving the organizational goals and objectives. Pragmatically, management is a wide subject whose functions are so extensive that they cannot be exclusively specified with accuracy. Consequently, management includes planning, organizing, coordinating, and controlling the organizational resource with the objective of mobilizing them towards the achievement of the overall organizational objectives, mission, and vision (Gareth, Jennifer & Charles, 2000, p.7). It involves setting up the organizational goals determination of tasks, allocation of such tasks, responsibilities, and roles to specific individuals or teams in the organization directing the performance of the tasks or rather the leadership role, evaluation, and control to assess the progress of the latter in the achievement of the predetermined goals. Management involves such functions as staffing and marketing. The management systems plan, organize, coordinate, and control the operations of specific functions such as marketing and accounting (Richard, 2003, p.47).

Marketing

Marketing is a management function in which the organization seeks to ascertain the needs and wants of the market and then respond by the production of a marketing mix that meets the market need to be ascertained therein. As such, it involves activities such as carrying of market research, gathering market intelligence, product development, branding, packaging, pricing distribution, and promotion of the organizational product (Richard, 2003, p.12). The latter asserts that marketing is concerned with the development and implementation of market targeting strategies, competitive strategies, attaining competitive advantage over others in the market, social responsibility, and ethics as well as the strategies geared towards the development of a market fit i.e. products that are responsive to the market demands/ needs. Marketing management, therefore, involves all the activities that are involved in the management of the 4ps (product, pricing, production, and management of the marketing systems distribution of the products to the various markets).

Accounting

Accounting is a management function that is concerned with all aspects of bookkeeping and recording of transactions in the organization. As such, it is charged with the responsibility of recording all the transactions of the organization preparing and disbursement all financial statements in the organization; the latter of which the organization’s management uses to make important managerial decisions. In some organizations, the accounting function is involved in the preparation of budgets. Accounting also involves some activities such as auditing (Elliot, & Elliot, 2004, p.245).

Conclusion

The complexity of the organization is mainly a result of the diversity of the systems and functions that constitute it. While management is the overall organizational function that plans, organizes, coordinates, and controls the other systems such as marketing, accounting human resources, finance among others depending on the nature of the organizational structure and size of the organization, the various functions represent specific roles and perform distinct tasks. Marketing management is a function that concerns itself with the management of the 4ps (product, price, promotion, and place). On the other hand, accounting is a function that is charged basically with the overall bookkeeping and preparation of financial statements for managerial decision making in the organization, and which includes sub-functions such as auditing.

References

Elliot, B. & Elliot, J. (2004). Financial accounting and reporting, Prentice Hall, London 254-256.

Gareth, R., Jennifer. M. and Charles, W. (2000). Contemporary Management, 2nd edition – Business & Economics, McGraw hill. Web.

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Richard, B. (2003). Vocational Business: Training, Developing and Motivating People: Business & Economics pp 43- 51.

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StudyCorgi. (2021, November 9). Accounting, Marketing, and Management in the Organization. Retrieved from https://studycorgi.com/accounting-marketing-and-management-in-the-organization/

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StudyCorgi. (2021, November 9). Accounting, Marketing, and Management in the Organization. https://studycorgi.com/accounting-marketing-and-management-in-the-organization/

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"Accounting, Marketing, and Management in the Organization." StudyCorgi, 9 Nov. 2021, studycorgi.com/accounting-marketing-and-management-in-the-organization/.

1. StudyCorgi. "Accounting, Marketing, and Management in the Organization." November 9, 2021. https://studycorgi.com/accounting-marketing-and-management-in-the-organization/.


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StudyCorgi. "Accounting, Marketing, and Management in the Organization." November 9, 2021. https://studycorgi.com/accounting-marketing-and-management-in-the-organization/.

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StudyCorgi. 2021. "Accounting, Marketing, and Management in the Organization." November 9, 2021. https://studycorgi.com/accounting-marketing-and-management-in-the-organization/.

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StudyCorgi. (2021) 'Accounting, Marketing, and Management in the Organization'. 9 November.

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