Financehome As yet little study has been made in Britain of this subject, but obviously economic reasons will create an increasing need for its practice. It is clear that business tends to expand in a series of steps as the productive capacity is increased by installing new machines or taking over new workshops. Because there is a tendency for these steps to be complex and detailed, there is a very heavy load on management at such a time, and it is often economical to employ outside assistance such as that offered by many of the large and small firms of management consultants. This could apply to the introduction of incentives based on work study; to a change of Production Control methods; to cost reduction and the provision of cost control information; and even to the provision of a new factory or department. Indeed some firms of consultants can now supply a 'package deal' which includes analysing the market, the design of a new factory, and the supervision of its construction up to the installation of the machines and the organization of management procedures necessary for a smooth flow of production. The valuable role consultants can play as a tool of management has been fully recognized in North America and is well on the way to full recognition in Western Europe. Absolute objectivity, a disinterested approach, and, above all, the precious ingredient of untrammelled time have combined to make responsible management consultancy an important new profession. All the foregoing has dealt with manufacturing production. This is not to imply that the effective management of 'commercial' production banks, insurance, wholesaling, retailing, shipping, and a host of other business activities is not as important. But it would be true to say that while management principles broadly apply to any form of business enterprise, a discussion of the management of manufacturing production is most likely to be definitive. Whether the end product is, however, a manufactured article or a service, the production function, as was said at the start of this section, is both a deciding and a limiting factor. MARKETING In the chapter 'The Business of Business' marketing, like finance and production, was described as one of management's principal 'means'. It is a generic term which may be broadly said to cover market research, selling, merchandising, advertising, and public relations. These marketing functions enable business management to ascertain accurately the requirements of actual or potential customers; they are vital to the optimum use of the products or the services that have been created. Though marketing in its widest sense was described as a central and unique management activity no business can flourish, much less take root, if the market requirement is not kept constantly in view it is valuable to analyse in some detail the main marketing functions. Household