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Business Functions and Sectors
Transcript of Business Functions and Sectors
By: Abirami Naidu
The HR is responsible for:
The account and finance department is responsible for:
Carrying out market research.
Analysing the market research.
Planning new products.
Keeping records of the sales.
Deciding upon the best marketing mix, that is the 4 p's of production- Product, Price, Promotion, and Place.
The operations management is responsible for:
The Information Technology department is responsible for:
It is also known as the extractive industry. These industries produce goods using resources in the environment.
Fishing, Mining, Forestry, and Farming.
It is also known as the manufacturing industry. These industries use the raw materials produces or extracted by the primary sector and turn them into finished goods.
Car manufacturers, and Carpenters.
It is also known as the service industry. These industries provide goods and services for consumers or businesses.
Education, Insurance, Banking, and Tourism.
Training, developing, and promoting staff.
Administering payroll and employee benefits.
Preparing job descriptions and specifications.
Planning and implementing staff training programmes.
Negotiating with workers' representatives, such as union leaders, on pay and working conditions.
Keeping staff records.
Recording all financial transactions.
Preparing accounts like invoices, financial accounts, etc...
Analysing the profitability of the business.
Deciding the best method of finance.
Keeping control of the cash flow.
The marketing and sales department is responsible for:
Ordering stock material and other resources.
Storing and checking the stock of raw materials.
Developing and designing new products.
Deciding on production methods and machinery.
Monitoring production, budgets, and quality.
Delivery of goods and services to consumers.
Installing and maintenance of equipment and software.
Making the information available, easy accessible and secured within the organization, by studying, designing, developing, and implementing the computer-based information systems, particularly software applications and computer hardware.
Sending and receiving messages by telephone, fax, and e-mail.