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

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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.

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