These functions are discussed as follows: This is the oldest function of a bank and the banker used to charge a commission for keeping the money in its custody when banking was developing as an institution.
They are structured according to certain business requirements and these departments will vary depending on the type of business being practiced. Each Departmental Functions are defined as follows: The heart of an organization lies on its people.
Without people, the day-to-day operation of a business would cease to function. The success of a business relies fully on the hands of the employees working in the company. Effective marketing and promotional activities will drive long-term success, profitability and growth in market shares.
This department is responsible for promoting the business to generate sales and help the company grow. Its function involves creating various marketing strategy and planning promotional campaigns. The production department is concerned with manufacturing the products, where inputs raw materials are converted into finished output through a series of production process.
Their function is to ensure that the raw materials are made into finished product effectively and efficiently and in good quality. This department should also maintain the optimum inventory level.
The sales department is responsible for generating revenue. The sales department is tasked to ensure that the sale of products and services results to profit. The sales department coordinates with the marketing department in terms of brand-awareness, product-launching and more.
From the time the product left the production department. It is important for a business to maintain and create relationship with their customers. Customer service should be provided before, during and after the purchase. This department focuses on giving good service support, especially to potential, new and existing customers.
A good relationship with customers will create customer-loyalty. This department is responsible for accounting, auditing, planning, and organizing finances.
If goods are not suitable for the distribution channel, expenses involved in the distribution will be considered wasted.
The distribution department is responsible for receiving orders and delivering orders to the customer at the right place, at the right time. Through innovation, it will open new competitive advantage for the company.Running Header: THE FUNCTIONS OF STAGE MANAGEMENT THE FUNCTIONS OF STAGE MANAGEMENT Abstract The four functions of management can be applied to business, sports teams or stage management to name a few.
Project Report on the Functions of Indian Commercial Banks: The Indian joint stock banks are in fact commercial banks which perform a number of functions and render a variety of ancillary services.
The Banking Regulation Act, lists them as under. Description of the content of each of these sections follows.
Additional remarks on report preparation and writing style are given at the end. The ABSTRACT is not a part of the body of the report itself. Rather, the abstract is a brief summary of the report contents that is often separately. Types of Business Reports in Business Communication. Reports on the basis of Importance or Frequency.
1. Ordinary or Routine Report; 2. Special Report; Reports on the Basis of Legal Formalities. 1. Formal Report; 2. Informal Report; Reports on the basis of Function.
1. Informative Report; 2. Interpretative Report; Reports on the basis of meetings. 1. Verbation Reports; 2. The accounting function in a business should help managers in their decision-making, control, and planning. Internal accounting reports provide essential information for controlling current profit performance, and for planning future profit performance.
Functions or importance of a report. 1. Provides Information: The very purpose of preparing a report is providing information to various levels of lausannecongress2018.com term management includes Foreman, Supervisor, Chairman, Department Manager, General Manager and Special lausannecongress2018.com people are getting information like trend of the business, cash flow and fund flow etc.