• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Functional areas of business.

Extracts from this document...

Introduction

Functional areas Nearly all businesses have functional areas within their firms. Functional area means how a certain type of business operates inside or outside their business, for e.g. how does the firm deal with the stuff like human resources, which comprises things like health and safety or organisation development, personal operations etc... human resource strategy demands that an organisation should manage its employees in a way which is consistent with the objectives of the whole business. Its purpose is to establish competitive advantage. The HR department would take decisions without considering what its actions mean for the rest of the business. The Human Resources Department (HR) controls employees and makes sure laws and health and safety matters are taken into account. They manage training for new staff and manage employee performance by make sure that workers are happy and motivated. If employees are not, then the HR supports them and takes into account their circumstances. Without HR, employees who are not happy would not have anyone to look into their matter, which makes them unmotivated. If the employees are not motivated, they will not put 100% in giving customers satisfying service, which will lead to fewer costumers meaning that their will be lower profit made. This means the objective of making profit will not be met. This diagram shows the organisation structure: These are the job titles of some of the Argos ltd Human resources departments which ensure that all objectives are met thoroughly: * Health safety must be required by every different type of business. Argos just does that. This department makes sure that the business accomplishes both its moral and legal obligations towards health and safety. ...read more.

Middle

A 'tight and easy' credit policy may be adapted. Tight credit terms may be used to improve liquidity. Liquidity includes thing like, risk of bad debts, exploit or seller markets, and maintain slender profit margins. Liquidity is just a term which changes assets into cash. The company's accountant managers and sales manager work closely with the credit controller because the credit policy could also affect the firm and the sales if anything goes wrong. The credit controller keeps track of bad debts occurring in the business or the time it takes to collect certain amount of debts. Last year in 2003, Argos ltd had �1803 million amount of debtors and nearly about more than five hundred thousand of the debtors were classified has bad debts because they might have been bank cropped or their position in the market might has gone down. To help the credit controller to keep track of money coming in or going out, Finance department have provided him with some producers which find relevant information about a supplier (e.g. supplier's bank details) or the supplier performance in the market. Knowing this information is important because it lets the credit controller know if the certain supplier can payback the stock he bought from Argos or not. Credit controller must let the managers know every bit of the financial information by keeping the trail on the money. It is obvious that the business has performed well because this will also raise their profits or make the company popular. Payroll clerk is another important person of finance department. A payroll is a list of employees with their wages or salaries and a clerk is a financial director (David Tyler) ...read more.

Conclusion

The marketing director has to be aware of how the stuff is being publishing because if the product isn't successful, the firm can be at a position where the losses on sales can happen. The marketing director will also look at the information collected by the marketing director to take it has a competitive advantage on a any cases. By considering the marketing mix of the products, the firm can be a position to fulfil their marketing objectives. This may include the business raise the Argos ltd sales or the operating profit margin. Effective promotion gets under way all the time to keep customers interested in Argos ltd products. Flyers are published on special events through out the year, such as Valentines Day, mother's day, and Easter. Point-of-sale and internet sites are also used to let shoppers know what is happening at Argos. Not long ago, the launch of the new Argos advertising promotion, starring Julia Sawalha and Richard E Grant, increased the awareness of new Argos catalogue. It also increased its purchasing rate and improved awareness of the Argos brands. The combination of stores, catalogues, websites and home delivery options makes possible for the customers to choose the shopping experience that suits their particular lifestyle. The marketing director said that "Argos is one of Britain's best kept secrets and this advertising is going to engage a whole new audience with the brand". This advertisement was also successful because they won the marketing campaign year at the retail awards 2003. Doing these promotions is important to attract consumers with their kind of services and also persuade them to buy their products. Argos has several competitive advantages in it's: * Purchasing scale * several brands * various channels ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level ICT in Business section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level ICT in Business essays

  1. For my business report I am investigating the Co-op erative society supermarket.

    One of its founders Dr William King believed the only way forward was for workers to help themselves. This could best be done by contributing small, regular sums which would be used to finance shops that would sell a basic range of goods to its members and the profits used

  2. REPORT ON THE BUSINESS OF MARKS & SPENCER

    end product / service, encouraging them to see themselves as a key link in the 'quality chain'. In addition, staffs are hired with the appropriate level of education, experience and more importantly aptitude. During Induction they learn about the company as a whole and the importance of their role in the organisation.

  1. Full description of the 5 main functional areas in Thorpe park (Marketing, Human Resources, ...

    The health and safety of all the visitors that visit Thorpe park put their lives in the hands of the cast members which efficiently make sure that the park is good and safe for visitors every day. Policy Statement: The company aims to provide and maintain the highest practical standards

  2. The functional areas of Cadbury's.

    research to identify what the customer needs and what they think of the products this can be done in two ways, primary research - asking customers what they think - questionnaires and surveys. Another way in which you can research is by secondary data this would include using existing information, from newspapers, magazines and books.

  1. Business Aims and Objectives.

    a PLC so through all the ownerships this is the best suited for Tesco as it will let them achieve high profits in a simpler more efficient way. Nokia is a Private Limited Company. Below I will write about the advantages and disadvantages of Nokia being a Private Limited Company.

  2. In this coursework I need to produce a detailed business report on one medium-sized ...

    Customers can order their produce/product for home delivery. There are now many thousands of such deliveries but these all depend upon the successful interaction of the major business functions outlined earlier. In other word, - * Marketing - responding to the initial enquiry, receiving and processing an order, distributing the product to customer.

  1. Apple Incorporation - Case Analysis

    Clicking on the poster below will provide a greater insight on Apple's culture - think different (Macintosh, 2004). The company logo is a rather odd thing. Who would have considered an apple after it had a bite taken out of it.

  2. A Description of the functional areas that exist in the business, and an explanation ...

    In a McDonalds's production line the most obvious example of labour would be the workers on the production line -however, they are also supported by a range of technicians, marketing specialists, packaging designers and many others. * Capital: Capital is represented by the machines and tools, without which there would be no production.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work