The Key Departments Of The Business

Human resource is an appellation used in referring to the workforce of an organization or company. Human resource management is involved in the act of putting together employees in an organized manner to assure the objectives of the organization are achieved in a competent and experienced manner. Human resources are the most important services of any organization since they are the catalysts of non-human resources and the medium for developing competitive advantages and sounds of creativity. No organization can exist without a human resources department (Walsh, 2009). A company without an HR department would be reducing its operations and could collapse within a short amount of time.

Human resource departments today have a more distinct, calculated position within organizations, and human resource strategy influences the bottom line. “One of the challenges for HR leaders is convincing executive leadership teams that human capital is one of the most important resources in which the company can invest” (Mayhew, 2014, p.). Subsequently, “this return on investment is an essential part of the argument for including HR as part of an overall business strategy” (Mayhew, 2014, p.). Human resource departments utilize the information given to them from company executives and leaders, coupled with their respective expertise on all things personnel, and they plan and implement staffing concerns for the betterment of the organization. From preparing job analysis, to comparing inventory and forecasting, it is the responsibility of human resources to consider the objectives of an organization and fulfill those goals while operating the specific planning relative to HR.

Human resources plays a great part in the functioning of the company and could impact the success

'How do the main functional areas of a business interact and contribute to its effective management?'

Business environment is facing a rapid change that reminds the business management to focus on its core competencies to survive and sustain in the competitive environment. The core competencies can be developed by strategic human resource management. According to Armstrong (2006) employees are the valued assets for a company. The strategic human resource management is mainly developed in accordance to the fact that human resources need to be managed strategically for the company to enjoy sustainable competitive advantage.

IDENTIFY AND REVIEW THE RELEVANT RANGE OF OPERATIONS AND THE SPHERE OF BUSINESS ARRANGEMENTS OF THE ORGANISATION

Human resources and the services they provide can be seen as the crucial link between staff and the achieving the business goals and objectives.

Efficiently operating an organization or business requires upper-level department heads to collaborate cohesively in efforts of meeting organizational demands. Although departmental managers work independently, they contribute collectively. In this paper, I will discuss the collaboration of the finance director and the department administrator and how they collaborate to carry out organization goals. I will explain contributions the finance manager and the administrator make in efforts of reducing accounts receivable days. I will also describe bonuses paid based on profitability.

Human Resources often begins as very tactical policies, records, compliance, discipline, compensation, benefits, job descriptions, hiring, performance management (). Taken to the next level, HR becomes strategic, connecting employees to the business mission, values, and vision, in order to drive business results (). Employee goals and metrics align to the business strategy and rewards tie into results. Additionally, careful consideration is given to developing talent pipelines, employee succession plans, and career planning in order to respond flexibly to the inevitable work flow and staffing changes that all businesses experience ().

In this section of my coursework I am going to be discussing how functional areas such as the marketing department work with different departments in order to run efficiently. I will discuss how different departments support the marketing department’s activities in order to operate efficiently.

Human Resources (HR) is fundamental to business performance and has a pivotal role to play in the decision making that enables organisations to operate effectively.

How well a business manages its assets and resources predicates its overall success. Companies that spend financial resources foolishly are apt to find themselves in bankruptcy. Companies that work capital equipment resources beyond the machine’s capabilities or for other than intended purposes are apt to experience downtime and/or lose the equipment to failure. The same premise holds true for a company’s human assets. However, unlike other company assets, which depreciate over time, human assets appreciate over time when managed properly. The article, Importance of Human Resource Investment for Organizations and Economy: A critical Analysis, explains the importance of managing human assets as follows:

Human resource management has gained atmost importance in the past few years. Studies have found that there is a relationship between human resources of an organization and performance. From an era of slaves to an era of knowledge resources, People have been regarded differently throughout the years. People are now considered to be energy resources which are directly responsible for the effective working of the organization. An organization with good human resources and its effective management forms an effective organization.

This makes the company look good and they can afford to do this from good financial skills. Decisions like this make a good profit in the long run and all in all this is why it is so important to have a good management team.

Human Resources constitute as one of the most imperative components of any organization, be it small scale business or a large conglomerate. Some of the key functions of the Human