An electronic device for managing functionalities of applications, the electronic device comprising: a memory; and a processor, coupled to the memory, configured to: detect an input with respect to a graphical element displayed on a display of the electronic device, wherein the graphical element represents a first application which is associated with at least two functional data items; split the graphical element into at least two sub-graphical elements based on the detected input, wherein each of the at least two sub-graphical elements represents different functional data items associated with the first application and wherein the functional data items are services, provided by the electronic device, having policies associated therewith; control the display to display the at least two sub-graphical elements; detect an association event input with respect to a graphical element representing a second application and one of the sub-graphical elements associated with the first application; dynamically create a policy based on the association event; apply the at least one policy to the second application; control the display to display at least two sub-graphical elements representing functional data items associated with the second application based on a pinch open input on the second application; and disable at least one functional data item among the at least two functional data items associated with the second application based on a swipe input on one of the at least two sub-graphical elements representing the at least one functional data item. a memory; and a processor, coupled to the memory, configured to: detect an input with respect to a graphical element displayed on a display of the electronic device, wherein the graphical element represents a first application which is associated with at least two functional data items; split the graphical element into at least two sub-graphical elements based on the detected input, wherein each of the at least two sub-graphical elements represents different functional data items associated with the first application and wherein the functional data items are services, provided by the electronic device, having policies associated therewith; control the display to display the at least two sub-graphical elements; detect an association event input with respect to a graphical element representing a second application and one of the sub-graphical elements associated with the first application; dynamically create a policy based on the association event; apply the at least one policy to the second application; control the display to display at least two sub-graphical elements representing functional data items associated with the second application based on a pinch open input on the second application; and disable at least one functional data item among the at least two functional data items associated with the second application based on a swipe input on one of the at least two sub-graphical elements representing the at least one functional data item. detect an input with respect to a graphical element displayed on a display of the electronic device, wherein the graphical element represents a first application which is associated with at least two functional data items; split the graphical element into at least two sub-graphical elements based on the detected input, wherein each of the at least two sub-graphical elements represents different functional data items associated with the first application and wherein the functional data items are services, provided by the electronic device, having policies associated therewith; control the display to display the at least two sub-graphical elements; detect an association event input with respect to a graphical element representing a second application and one of the sub-graphical elements associated with the first application; dynamically create a policy based on the association event; apply the at least one policy to the second application; control the display to display at least two sub-graphical elements representing functional data items associated with the second application based on a pinch open input on the second application; and disable at least one functional data item among the at least two functional data items associated with the second application based on a swipe input on one of the at least two sub-graphical elements representing the at least one functional data item.