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Functional Business Areas

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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.

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