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

Functional Business Areas

Extracts from this document...

Introduction

Functional Business Areas Within a business there are many functional areas and factors that govern production. The factors of production are Labour, capital, energy and materials. These factors work together to produce a functional business that is capable of achieving its aims. When a business combines all of these factors it in turn creates a range of functions that have to be carried out. All businesses have the following functions * Finance * Production * Human Resources * Marketing * Administration Finance is a small but very important section of any business. All firms have to produce a set of accounts at the end of each year, and these are the main window to the companies' performance. If the finance department does their job well then it is easier for the company to analyse their performance and work on how to improve it. The Finance area attempts to keep a detailed account of the money paid in and out to and from the business. It will record profit and loss, use of funds and sources of capital. Modern finance areas use computers to store and analyse their information. ...read more.

Middle

Marketing in itself is a big division; it contains several areas within it. Part of marketing's job is to research the current markets and see what products are available, they then have to tailor the marketing strategy of the business to satisfy the consumer in an attempt to make the product successful. Administration is the final function of a successful business and it is the nerve centre controlling the communications between the other functions. It also deals with messaging and internal and external communications and documentation for the business. The administration function is key because it facilitates the successful production of products and efficiency in the business. Alongside the idea of business functions is the notion of business culture and structure. A business' structure can be classified in one of three main ways; * Tall * Flat * Matrix The first type, tall, as its name suggests contains many layers of each hierarchy. For example a tall structure may have many levels such as manager of sales, and then senior and junior sales assistants under him/her. A flat structure is quite the opposite, containing few layers. ...read more.

Conclusion

On the left is the marketing department, with Mike Hayward the manager alongside marketing affinities. On the right we can see a complex network of communications, this is in the customer service department. This is an important point because it shows that Cornhill direct have thought about where the most communication is needed and they have implemented good communications there. This structure is advantageous to the company as it means they can communicate effectively, and because the customer is at the top they can keep up with the market trends. Also the good communications strengthen the idea of team work as it is the basis of team tasks. As we will see in the following section this causes a forward-looking culture to develop. Also because there are few layers the employees do not feel alienated from the managing staff and they feel more like a part of the company. This increases productivity and therefore the level of customer service provided to the customer. Even though the company has the customer as the top, they would also be at an advantage if they put the competition at the top, this would enable them to keep up with the competition and even predict possible changes in the market. Owen England Business Section 3 November 02 Page 1 ...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. The functional areas of Cadbury's.

    corners shops, super markets petrol station, school, pubs etc. These business are usually visited by customers on a daily bases. * PROMOTION- Cadbury advertises its products on television, Internet, poster's, newspapers and magazines. This section within Cadbury helps to find out what the customers want from Cadburys.

  2. Functional areas of business.

    In production there has to be an input, which is transformed to an output. The transformation is taken through by processes, these add value to the output such as materials and Labour so that the finished product can meet customer needs.

  1. Business Aims and Objectives.

    Examples include: * Information to employees relating to their employment * Complicated instructions or technical schedules which everyone must follow * Financial documents sent to shareholders * Letters send to customers Informal communications are used between people who contact each other frequently, both internally and externally.

  2. Free essay

    Functional Areas

    A market focused organization first determines what its potential customer's desire, and then builds the product or service. Marketing theory and practice is justified in the belief that customer use a product/service because they have a need, or because a product/service has a perceived benefit.

  1. Human resources

    Too many types of businesses have enough "walk-in" applications that come in on their own top fill vacancies and new positions as needed. Even the small business owner should check local requirements for posting open positions with the state employment agency (ETC) to be sure of compliance with the law.

  2. A description of the use of ICT for internal and external communications of the ...

    * Teleconferencing. Meetings may take place with individuals widely dispersed, using a number of terminals. * Remote databases. These include the sorts of services you can pick up on your television, such as Teletext, which provides users with vast amounts of information that is updated constantly.

  1. Examine the strengths and weaknesses of the business by performing an internal audit on ...

    a pin. 5. If any errors that can't be completely resolved are found up to this point, the product is unlikely to progress into the final stages. 6. The products are hung up, cleaned and dusted and checked that they match the criteria specified by the customer.

  2. The business I am going to set up is a snooker club,

    95 Net value = 385 Snooker &Pool Tables - Cost 16000, Depreciation = 1200 Net Value 14800 * Drawings - I will take out 700 per month to pay my domestic bills and expenses, again this isn't linked to production, and subsequently they are my personal expenses.

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