All businesses combine "Factors Of production" to produce HBOS's services. Combining these factors means the business has to carry out a range of functions.

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All businesses combine “Factors Of production” to produce HBOS’s services.  Combining these factors means the business has to carry out a range of functions.  The main five departments within the organisation are:

  • Finance

Finance is an important function in the organisation of HBOS, because those who work in the financial department keep track of the money coming in and going out.  All functional managers are concerned with the financial of their own areas, not just at budget preparation and agreement stage, but also day-today checking whether they are meeting their budget forecasts.

Staff in the financial department is responsible for controlling the money, they will advise managers when the company is over-spending.  This means cutting back on expenditure.  The effect of this could be that the new equipment can not purchased, the sales department may have to stop a proposed advertising campaign, production may have to reduce overtime, human resources may be told that no more staff can be hired or replaced for a while, administration may have to defer the purchase of a new photocopy machine. Finance is also responsible for paying the employees wages or salaries.

HBOS is a business organisation, so it allows other people to buy on credit.  However, the credit terms that we are agreed may vary from one customer to another.  The HBOS customer services staff knows all the options available and to be able to give customers help and advice ad to the most appropriate for their particular needs.  They are also aware that some customers may be rejected for loans because they have a poor credit record, and be able to explain this tactfully to the customer.

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  • Administration

Administration in HBOS has a considerable impact upon the other functional areas, given that it provides all the support services, which enable those to operate effectively and achieve HBOS’s objectives.

The main purpose of administration is to make sure that the organisation operates as effectively as possible by performing a wide range of support activities promptly and effectively.

HBOS’s office focuses on the management of work through information technology and communication system.  In HBOS a large proportion of staff work directly with large and developing body of technologies and techniques by which information is obtained, processed ...

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