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Business Functions

Decent Essays

Personnel/Human resources
Human resources is said to incorporate and develop personnel management tasks, while seeking to create and develop teams of workers for the benefit of the organization. A primary goal of human resources is to enable employees to work to a maximum level of efficiency. human resources involves ongoing strategies to manage and develop an organization's workforce. It is proactive, as it involves the continuous development of functions and policies for the purposes of improving a company’s workforce.
Personnel management is often considered an independent function of an organization.
Personnel management can include administrative tasks that are both traditional and routine.

Production and operation management …show more content…

The supply chain is typically made up of multiple companies who coordinate activities to set themselves apart from the competition.
Purchasing management professionals must be good negotiators, understand technical product information, have good mathematical ability, understand spreadsheet software, understand marketing methodology, and be outstanding decision makers. Increased responsibilities in purchasing management require good leadership skills, and higher positions often require a master's degree in a business related subject

Finance and accounting

Accounting involves the creation of financial records of business transactions, flows of finance, the process of creating wealth in an organisation, and the financial position of a business at a particular moment in time.

A number of users make use of accounts for different purposes: these are also refered to as stakeholders. The main users of accounts are shown below:

Shareholders read accounts to examine the health of business, and the returns (dividends) that they can expect to make. Employees read accounts to see how safe their jobs are. The Inland Revenue read accounts to calculate how much tax businesses should be paying. Suppliers read accounts to check that the company they supply with goods on credit will be able to pay the money owed when it becomes due.
In a typical large business the accounting function might be organised in

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