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Describe the type of work carried out by at least three functional areas of one of your chosen businesses.

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Introduction

B1 Describe the type of work carried out by at least three functional areas of one of your chosen businesses A functional area is where a specific job is carried out for example, marketing and sales, research and development and Finance are all types of functional areas. Finance The purpose of the finance department is to basically make sure that they are bringing in a profit as well as to sort out the distribution of wages and salaries. They have to distribute wages and salaries to employees employed in the different areas of the store. The wages vary depending on the type of job you are employed in and salaries vary depending on how skilled you job is. These wages and salaries are also calculated depending on the amount of manual hours worked The financial side of the business also have to focus on ways in which they can obtain capital and resources and they may also try to borrow loans from Ikeas main bank. ...read more.

Middle

They may also draw up a cash-flow forecast which shows whether there is enough money available to pay salaries and wages to their employees. This can also identify all of Ikeas savings, which could be used to reinvest in new products or even in expanding the business. Marketing and Sales The purpose of the marketing and sales department is basically to bring in customers and promote their products in various ways. The marketing side of the department concentrates on ways in which they can make potential customers aware of their products. This can be done by broadcasting adverts on television between shows, so that people will see the adverts and it will interest them in buying products from Ikea. Ikea also do their marketing through catalogues which customers can pick up and browse through in order to see whether there are any products that they like. ...read more.

Conclusion

Research and development The purpose of the research and development department is to carry out research to find out what kind of products are good sellers and which aren't. They also carry out research in order to get information in order to develop new and innovative products which will be good sellers and bring in money. They carry out research and try to make better products to sell and at the same time try to keep them at a low cost in order to bring in more customers. They try to deal with lifestyle and functional products, Ikea are always looking at methods to reduce costs of their products in order to keep their existing customers as well as to try and attract more customers to their store. They may decide to modify existing products to suit customer needs and so that they can get more customers who want to purchase their products. They may modify an existing product and make it better so that the customers are getting better value for their money. Manraj Hayre ...read more.

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