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Help Doc for Btec business level

Functional areas for Tests Note Tests does not have an s on the end and it has a capital T The components or departments of a business involving some form of specialist e. H unman Resources. Research and development, marketing, finance. Accounts, sales and loss prevention. A business like Tests who is a multinational company who have an intern atonal presence will have a tall hierarchical structure. A tall hierarchy in a business will rep sent many management layers, each manager will be in charge of a small group of employ sees this represents a narrow span of control.

In a hierarchy instructions are generally passed down from one person to another until It gets to the bottom of the hierarchical structure. If there was a problem in a hierarchical structure it would move up through the structure again FRR 1 OFF person to another until it gets to where it is supported to be. Strengths of a Hierarchy structure is that there is a close control of workers. Workers in Tests will know exactly what they have to do so they don’t wait around until they are told . This is important to have e Nina equines like Tests because

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this will enable the business to have a tighter control an d monitor operations closely.

Some of the functional areas within Tests includes Peers kneel, Alison Hornier is the groups I-J personal director. It is her responsibility for the development of our 500,000 colleagues. The personnel department handles a variety of critical function ones that help meet the needs of business owners, managers and staff. Personnel departments hire and train employees, implement company policies and procedures, handle specific performance issues, determine employee salaries, ensure that fair labor laws are fool wed and terminate employees.

Another functional area for Tests is the Finance department, Alan Stewart is the chief financial director for the business. The finance department The finance department of a business takes responsibility for organizing the financial and accounting affairs include ding the preparation and presentation of appropriate accounts, and the provision of final Coal information for managers. The main areas covered by the financial department include De: creating a balance sheet for profit and loss, financial statements need to be produced t given time intervals, for example at the end of each financial year.

The department is also responsible for raising funds the department will be responsible for the technician al details of how a business raises finance e. G. Through loans, and the repayment of interest on that finance. In addition it will supervise the payment of dividends to shareholders. Strategic planning is the process of working out a vision of where the business wants to be and how it is going to get there, including review procedures.

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