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

What is the structure of a business organisation? International Racecourse Management

Extracts from this document...

Introduction

What is the structure of a business organisation? International Racecourse Management International Racecourse Management (I.R.M) Ltd was founded in 1990 by the current Chief Executive, John Sanderson. I.R.M's core business is the management of horse racecourses. At present the company holds contracts to manage three racecourses in England, Catterick Bridge, Doncaster and Redcar, as well as holding consultancy agreements with racecourses in Vietnam and the Czech Republic. In addition to this I.R.M are regularly approached by other leading racecourses enquiring as to whether they could employ their services. Each racecourse is given the same high standard of administration. There is a full time manager based at the course on a daily basis, but in addition to this Doncaster also employs a Sales and Marketing Director and two assistants because of its size and the effort it takes to run a group one racecourse. As well as managing U.K racecourses, I.R.M also undertakes consultancy contracts at racecourses across the world. Instead of being the full time managers I.R.M visit each course two or three times a year to asses each courses management. The final aspect of I.R.M's business is the sale of television rights around the globe. They act on belief of either the buyer or the seller of televised horseracing around the globe. On the domestic front I.R.M act as agent for all U.K racecourses who have their racing televised by Channel Four Racing and negotiate new and improved contracts as a regular basis. The Mission Statement As is normal for most companies I.R.M has a mission statement that is a declaration of their fundamental purpose. The statement answers questions like why do we exist?, what do we wish to do?, how do we see ourselves?, as well as explaining the company's beliefs and long term ideals and objectives. The I.R.M mission statement is as follows: 'We aim to be a leading force in racecourse management offering a high quality service, providing direction and making progress through our considerable knowledge, expertise and understanding of the racing industry.' ...read more.

Middle

I.R.M are currently trying to promote racing to youngsters who have no knowledge of the industry at all, in the hope that it'll become an interest that they wish to pursue in the future. Functions I.R.M has five main departments within the organisation. Each department has many aspects within it that contributes towards the running of the company and enabling it to achieve its aims and objectives. The departments and the tasks that they undertake are as follows: 1. Racecourse Management � Run administration offices � Attract sponsors � Run overall maintenance of course and buildings � Promote racedays � Sell corporate hospitality � Utilise buildings for non-raceday events 2. Clerks of the Course � Control and supervise each raceday � Prepare the race programmes, fixtures and prizemoney � Liase with the groundsman to prepare the running sufrace 3. Accounts � Send invoices to clients � Pay invoices from suppliers � Prepare monthly salaries � Issue weekly pay packets � Pay prizemoney to owners 4. Media Sales � Buy and sell horse racing from overseas countries � Negotiate contracts for U.K racecourses with T.V companies 5. Consultancy � Working in partnership with overseas racecourses in Vietnam and Czech Republic Each department contributes greatly towards I.R.M achieving their desired objectives. The management department is the main contributor but it relies greatly on the Clerks of the Courses because without them the racedays wouldn't take place. The media sales and consultancy departments work well together as these are mainly activities that take place overseas which help promote I.R.M in foreign markets. Finally the accounts department is relied upon greatly by all the other departments for payment of bills and employees wage payments. Elements of Organisational Structure When any organisation is set up a structure of some sort is put in place. There are several elements that contribute to the structure of an organisation. These are that they must work with a system that contains a structure of some sort. ...read more.

Conclusion

If things aren't up to standard then it's up to the management to decide whether appropriate action should be taken. Control is used to enhance products or services. Organisations must be aware of the level of control implemented in the company, too much can cause low morale. Two major types of control are: 1. Financial control 2. Quality control Financial control is an analysis of all the major financial statements that every company has to produce at the end of each year. This is items like the balance sheet, profit and loss account and cash flow statements. These statements provide the company with a picture of their current financial situation, whether they make a profit or a loss, where the money has been spent and so on. These are the advantages of financial control. Its disadvantages are that they generally only cover one year and for many external reasons that year could have been a poor year performance wise. Therefore any perspective investors might think twice before deciding whether to invest in the company. Yet in previous years the finances could have been excellent but this information isn't known because the statements only show one year. Quality control is the process where tests are made on the products to check that they reach recommended standards, set by either the company or the by legislation. Any manufacturing company, for example Mars, does hundreds of test a week to make sure that the product is fit for sale. Tests done at Mars would involve things like the chocolate taste, quality of the fillings, size and shape of the product. The advantages are that it manages to highlight any problems or defaults that occur before the product gets into the market. Disadvantages appear though, for example a constant defect will usually mean an employee is not doing the tasks he/she were set. This leads to dissatisfaction amongst the employees. Also too many tests make the employees feel that they are always being watched, which also can lead to dissatisfaction. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE People 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 GCSE People in Business essays

  1. Marked by a teacher

    Sainsbury's organizational structure.

    5 star(s)

    Transparency functions: - It is often very important for an organization that the outsiders can see what is happening inside the organization so that the business can be carried out in a true and fair manner for e.g. environmental reports, audit, ethical reports and financial reports which are complying under company ordinances.

  2. Marked by a teacher

    Tesco's organisational structure

    4 star(s)

    They have to create and store the documents and transform them to different kind of functional areas in the business. They have to send and receive messages from their customers and they have to meet other visitors face-to-face. They have to arrange meetings or conference for the business and they have to arrange foreign trip for their senior officers.

  1. Tesco's different stakeholders are:Employees

    For those who have ten items or less but do not want to scan their own items or have a CD protection cover that needs to be taken off they go to a till for ten items or less with a cashier to scan their items on.

  2. This report is to investigate Coca Cola Company. On this coursework I will look ...

    To ensure they have it right, technicians periodically check production runs. In addition to consistent syrup and beverage quality, packaging must also pass rigorous standards. We not only work with the packaging suppliers to ensure quality in their production, but also employ their own testing methods.

  1. The Boots organisation is a public limited company (PLC).

    The DDA provides that it is unlawful for employers to discriminate against a disabled person in relation to the recruitment process, promotional opportunities and dismissal. P4 Explaining using examples how different functional areas communicate with each other and external contracts Boots work uniquely as a company to be successful.

  2. Produce a case study comparing two business organisations, investigating the extent to which each ...

    their employees and customers supported by safety officers in each store and annual audits carried out by an independent specialist. Over the last year training has been focussed on store safety officers and managers. They have also been taking the opportunity to make their sale floors safer with their programme of store modernisation.

  1. Analysis of a Contract Specific Organisation

    of Services, estimated time application, qualifications, experience, company status, etc., office address from which off-site personnel will operate. The contractor is to specifically advise of any resource that is not directly employed by them. Action AJ. All staff will be Drivers Jonas full time employed staff either from our matrix,

  2. This is a report on Marks and Spencer a well known retail company in ...

    It is also important during periods of recession or intense competition and at a time of crisis such as a hostile takeover. Survival is about continuing to exist today, tomorrow and into foreseeable future. You may not be the most profitable company today, but at least you will be there into the future.

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