It is important to note that the administrative process is one of the most critical aspects of running and maintaining a business. When it comes to the key elements, they include accounting, marketing, financial management, and human resources. All four domains of the administrative process constitute a specific business purpose, which ranges from managing employees or personnel to allocating resources to promoting the product or service.
Administrative Management Process
Firstly, accounting and financial management are the essential aspects of the administrative process since they are reflective of the overall organizational performance. Measuring and analyzing the quantitative metrics of business operations provides an accurate, reliable, and precise insight into the key problem areas as well as points of interest. However, accounting should not be confused with financial management since these two are done for differential purposes. The former refers to the reporting process of financial transactions which already occurred in the past. The latter is about future financial transactions which a business plans to do (Nakamaki et al., 2019). Thus, both are critical to ensure that a business is properly managing its resources and allocating them in order to enhance its performance.
Secondly, marketing is vital for increasing sales, establishing brand image, and promoting a product or service by showing its value to the consumers. Its primary focus is consumer attention, which is a scarce resource in the current age of informational excess. Marketing also strives to persuade a consumer to buy a specific service or product, which is usually conducted through ads, campaigns, and other promotional measures. In addition, it seeks to create and improve a company’s brand identity and image, which are essential to creating stronger brand loyalty.
Thirdly, personnel or human resource (HR) management is the most complex and intricate aspect of managing the most valuable resource of a business, which is mainly comprised of employees. The key issues of HR management include professional growth, worker performance, organizational culture, retention, and job satisfaction (Nakamaki et al., 2019). Managing company talent is a delicate task because they need to be compliant with company rules, perform at their best, be competent, retain at the company, train and grow, and be satisfied with their positions.
In conclusion, administrative management is about accounting, marketing, financial management, and human resources. Since it consists of a vastly interconnected and different domain of business management, administrative managers need to be systematic, resourceful, flexible, and communicative. A business needs to be run and maintained while the key strategic objectives are being achieved. Resources allocations need to be recorded, reported, and planned, whereas the product or service needs to be promoted, and the brand image needs to be strengthened. At the same time, the human resources of a company require an appropriate approach to management coupled with a focus on professional growth, worker performance, organizational culture, retention, and job satisfaction. Therefore, an administrative manager needs an effective team around him or her to ensure top performance.
Nakamaki, H., Hioki, K., & Sumihara, N. (2019). Enterprise as a carrier of culture: An anthropological approach to business administration. Springer.