What's it: The operations department is the business area dealing with production. This department is a strategic area besides marketing, finance, and human resources. It is responsible for converting raw materials and components into finished
Accounting and Finance Department: Roles and Links with Other Departments
What's it: The accounting and finance department is concerned with planning, managing, and controlling financial resources, including managing records and information related to business finances. In addition, the department is responsible for
Organizational Structure by Function: Advantages and Disadvantages
What's it: Organizational structure by function or functional organizational structure is an organizational structure in which a company arranges an organization based on business functions. Each function requires specific knowledge and skills.
What are Core and Supporting Business Functions +Examples
For management, knowing which core and supporting business functions are important to prioritize decision-making and resource allocation. For stakeholders, such as stock investors, it also helps sharpen their insight in analyzing company
How are business functions interrelated?
Business functions are interrelated to achieve company success. They cannot work alone. Synergy and close communication between them are needed to achieve company targets. Indeed, each function has its own goals and targets, but it must support the
Business Functions: Definition, Importance, and Types
What's it: A business function refers to the various activities performed by a company. These activities are divided into several functions or departments. In the most basic classification, they can be divided into core functions and support
Human Resources Department: Roles and How it Works
What's it: The human resources department or HR department is the division responsible for and dealing with managing individuals within the company. It handles human resource planning, recruitment, training, appraisals, dismissals and
Marketing department: Functions and Responsibilities
What's it: The marketing department is a division of the company with responsibility for the marketing function. This department aims to sell as many products as possible in a sustainable manner. The team designs marketing strategies and