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Investigating Richer Sounds PLC.

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Introduction

Investigating Business Unit 1 - Section B Functional areas INTRODUCTION For my G.C.S.E applied business course unit-1 section B I am required to investigate 3 functional areas/departments of one business and find out what their main purpose is and how they work together to achieve the aims and objectives of the business. I have chosen to investigate the company Richer Sounds PLC. I will be using sources from the Internet and books to help me with my investigation for my portfolio. The three functional areas/departments I will be investigating are: > Store operations > Finance > Marketing The type of work undertaken by store operations The Store Operations department has many responsibilities, they control store budgets and check that the entire store achieve their targets. Here are a few more key responsibilities that are controlled by the store operations department: > They check stock orders sent in by the stores, which is both the type of stock and the quantity of the stock ordered. > Setting each store's budget in relation to its overheads (see below). > Checking that all the stores achieve their targets. This includes monitoring store sales, making sure that the stores are operating within their budget and receiving good reports on customer service. ...read more.

Middle

that the customers know about the business, at Richer Sounds the marketing department is responsible for the company website because they have carried out the research into the sales of goods at Richer Sounds. The other types of activities carried out by the marketing department include: > A key activity of marketing is to analyse feedback from customers and information about competitors to identify their future marketing strategy. This helps them to decide how to advertise and promote their products and their business. > Colleagues in the 'design' section of marketing produce Richer Sounds in-store A3 newsletters, which they issue every fortnight as well as their advertisements, which they place in the national press and in specialist magazines. All Richer Sounds original point-of-sale materials (such as their signs, price tickets and leaflets) are created by the designers.3 The Marketing department have small departments, for example 'Market research'. 'Market research' is involved in: surveys on customer needs and research into new or existing products. There is also the promotional department, which is involved, in advertising, sales promotion and publicity campaigns. How the functional areas work together to support the business activity and achieve the aims and objectives of Richer Sounds For the three functional areas to support the business activity and to achieve the aims and objectives of the business successfully, they need to have good communication between them. ...read more.

Conclusion

E.g. the three functional areas, which I have chosen, have different responsibilities and different contributions to make, which are: > Store Operations- This functional area is responsible for the stores operations. This involves checking the store achieves its targets, checking stock orders and managing colleague problems. > Finance- This functional area is responsible for all the money being earned and spent by richer sounds. They are responsible for the preparation of financial documents of the sales of goods, they pay the suppliers of the stock, which, Richer sounds, buy and they prepare monthly management accounts. > Marketing- This functional area is responsible for making sure the public know about Richer sounds, e.g. advertising. They do this by keeping the Richer Sounds website up-to-date and keeping the store looking lively and interesting e.g. posters, fixtures and lighting this is known as 'Point-of-sale'. Store operations would only be responsible for the business aims and objectives of the store, but they would not go into being responsible for the stores budget because this is the responsibility of the finance department and the Finance department would not go into advertising because this is the contribution made by the Marketing department. These are the contributions each functional area would make to keep the business moving forward. 1 http://www.richerstudentzone.co.uk/gcseweb/Unit1/doc1_5e.htm 2 http://www.richerstudentzone.co.uk/gcseweb/Unit1/doc1_5b.htm 3 http://www.richerstudentzone.co.uk/gcseweb/Unit1/doc1_5f.htm 4 http://www.richerstudentzone.co.uk/gcseweb/Unit1/doc1_5i.htm 5 http://www.richerstudentzone.co.uk/gcseweb/Unit1/doc1_1.htm#achievingAims ?? ?? ?? ?? INVESTIGATING BUSINESS SECTION B PAGE 1 ...read more.

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