...The four functions of business are Planning, Organizing, Leading, and Controlling (Norman, 2014). Planning involves deciding where to take a company and selecting steps to get there. Location of a company is very important to the success of that business. Is the community willing and able to provide support to the company? Does the area have the infrastructure and materials to maintain and help the business to grow? Planning is not only the where but also who and the what. Who are the people to hire as managers and workers that will enable the company to provide an excellent product at a marketable price? The people and the location are connected because workers who are satisfied with their quality of life are more likely to work better. When people are committed to the company and the area where they live, innovation in generating a better and more cost effective product is possible. The product is what of planning. The product must be acceptable to the community. Is the community behind the investment in infrastructure the area must make to ensure the company will locate there? Globalization affects many aspects on the functions of operating a business. Over the last two years Hertz has expanded their market and began operating a branch of their worldwide reservation center in Guatemala. There is already an established branch in Dublin, Ireland. Extending employment in various countries are mainly due to lower operational cost, reduced wages and sustaining market...
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...Business Functions: HRM Tutorial Exercises 1 Carter Cleaning Company Jennifer Carter graduated from State University in June 2005, and, after considering several job offers, decided to do what she always planned to do – go into business with her father, Jack Carter. Jack Carter opened his first Laundromat in 1995 and his second in 1998. The main attraction of these coin laundry businesses for him was that they were capital – rather than labour-intensive. Thus, once the investment in machinery was made, the stores could be run with just one unskilled attendant and none of the labour problems one normally expects from being in the retail service business. The attractiveness of operating with virtually no skilled labour notwithstanding, Jack had decided by 2015 to expand the services in each of his stores to include the dry cleaning and pressing of clothes. He embarked, in other words, on a strategy of “related diversification” by adding new services that were related to and consistent with his existing coin laundry activities. He added for several reasons. He wanted to better utilise the unused space in the rather large store he currently had under lease. Furthermore, he was, as he put it, “tired of sending out dry cleaning and pressing work that came in from oor coin laundry clients to a dry cleaner 5 miles away, who then took most of what should have been out profits.” To reflect the new, expanded line of services, he renamed each of his two stores Carter Cleaning Centers and...
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...1. BUSINESS FUNCTIONS 2.1 General management The general manager is responsible for effective planning, delegating, coordinating, staffing, organizing, and decision making to attain desirable profit making results for an organization. The general manager is responsible to see that all the other managers are doing what they are suppose to do, when they are suppose to do it. In Suni Oil the general manager is also the owner. I found that as one of the strong points of Suni Oil because he knows what he wants done, and he knows how to do that. Another important task of the general manager is to keep everyone motivated and focused. I learnt that it’s very important to have a good relationship with your co-workers. The general manager plan, delegate, organize and control. 2.2 Human resource management Human resource management is the process by which an optimal fit is made among the employee, job, business and environment so that employees reach their level of satisfaction and performance and the business meets its goals. Suni Oil is still a relative new business and doesn’t have a HR yet. There are talks to appoint a HR within the next year. The HR will be responsible to see that all the workers are satisfied and that they will reach their goals. In short the HR will be like a “compliment and complaint box” for Suni Oil’s workers. 2.3 Operations management Operations management is an area of management concerned with overseeing, designing, and redesigning...
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...Fuctional Area of Business MGT/521 01/21/2013 Master in Business Administration (MBA) is the next step in business degree. It will help me understand the business world & business practice for better future career opportunities. Most businesses consist of number of different deparment, which has specific job or task to do that is called functional area of a business such as accounting/finance, marketing, operations, human resources and administration. This degree will help me understand each department of business and what roles managers play in each deparment. All business will carry out each functions but not every business will have a separate deparment that is responsible for each function. All businesses need to be well organized to achieve their aims and objectives. Certain tasks, or functions, must be done regularly and these are usually grouped into specific types of activities. All businesses will carry out each of these functions but not every business will have separate deparment that is responsible for each functions. It is all depends on the size of organizations. All functional are of business are very much important to organization. Few functional areas that interest me are Human Resource and Finance. Human Resources is important department. The main purpose of Human Resource deparment is to recruit, select, train and develop staff. This means that they have to find right people at right place at right time and it is the responsibility of Human...
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...The Roles and Functions of Law Cathi Stark LAW/421 December 23, 2013 John Koenig The Roles and Functions of Law The purpose of this paper is to inform about the roles and functions of the law. It will also show and define the function and roles of law as they apply to business and society. There will also be examples from real life experiences of the writer, myself. This week in class we were instructed to review the Commerce Powers from chapter two in our text book. There was a case review within the chapter that specifically outlines some of the roles and functions of the law. This case, Cipollone v. Liggett Group, Inc., et al., 505 U.S. 504 (1992), will be referenced through this paper. The basic function and roles of the law in business and society is for the benefits of the people and the protection of their rights. Laws are created to ensure we are safe and protected in all aspects of our lives, both personal and professional. In business, laws are designed to regulate activity at the local, state and federal levels. In case of Cipollone v. Liggett there is discussion of statute and enactment of laws. This case is based on a suit that Cipollone took against the cigarette manufactures, Liggett for the death of his mother. The study states that “Congress chose specifically to regulate a certain type of advertising (tobacco), federal law is supreme to any state law that attempts to regulate that same category of advertising.” (Melvin, 2011, p. 33) The Constitution...
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...Master’s of Business Administration (MBA) overview and the Effective Research and Writing at University of Phoenix Modules are two introductory tools used to help emphasize the importance of the MGT/521 course. They are also guides and directional maps to steer new students to the appropriateness of understanding the necessities to achieve success in this MBA program. The MBA overview encompasses multiple concentration of the program as each tab delves into the specifics of what each focus entails. Effective Research and Writing Modules take a similar pathway as it describes the didactic approach to produce a graduate student quality research paper with the proper American Psychological Association (APA) writing style. This paper will demonstrate the summary of the interest of two functional areas of business. In addition, an explanation of the role managers would have within these areas of business will be described. With the use of supporting peer-review articles from University of Phoenix, an effort will be made to illustrate in detail the appropriate use of the aforementioned points to give the readers the clear understanding of the MBA student’s perspective. Furthermore, students pursue furthering his or her education for various reasons, for example, career growth, personal goal or to start a new career, therefore it is significantly important for each student to use the necessary tools in the most efficient and effective manner to achieve his or her ultimate success of...
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...Master in Business Administration (MBA) is the next step in business degree. It will help me understand the business world & business practice for better future career opportunities. Most businesses consist of number of different deparment, which has specific job or task to do that is called functional area of a business such as accounting/finance, marketing, operations, human resources and administration. This degree will help me understand each department of business and what roles managers play in each deparment. All business will carry out each functions but not every business will have a separate deparment that is responsible for each function. All businesses need to be well organized to achieve their aims and objectives. Certain tasks, or functions, must be done regularly and these are usually grouped into specific types of activities. All businesses will carry out each of these functions but not every business will have separate deparment that is responsible for each functions. It is all depends on the size of organizations. All functional are of business are very much important to organization. Few functional areas that interest me are Human Resource and Finance. Human Resources is important department. The main purpose of Human Resource deparment is to recruit, select, train and develop staff. This means that they have to find right people at right place at right time and it is the responsibility of Human Resource to train and develop them to make sure that they...
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...Business Processes and Functions Business processes and functions are very important for every company of their business. Functions are things that the organisation does such as production, sales, marketing, research and billing. Businesses have organised themselves around their functions, and functions divisions fail to recognise that many of the business processes that operate crow that artificial boundaries thus created. Business processes are the way that how to do and achieve the business functions. Business process is a set of related activities that collectively realise a business goal, and is a collection of related, structured activities that produce a specific service or product for the final consumer. Business processes also are valuable business assets, and companies need manage and maintain these business processes in the same way as any other assets, such as plant and machinery. Business processes can be divided into three types, which are management processes, operational processes, and supporting processes. Business processes are analysed by mapping of processes and sub-processes, which have their own attributes, down to activity level. Business processes are designed to add value for customer to increase effectiveness and efficiency. Business process orientation is a recent development in organising and can be described in term of an organisation that is oriented towards processes, customers and outcomes as opposed to hierarchies. A business process oriented...
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...popular in various countries.Inorder to capture that popularity many individuals and organizations opened Nabisco company with different logos at their native countries with manufacturing basic products such as biscuit,cookies,snacks,chocolate etc.One of those individuals who took inspiration from the original company and established it at his home country was S.M.Nur. S.M.Nur was a non-bengali pakistani who opened Nabisco in 1953 at dhaka,East Pakistan(now Bangladesh) in an area about 3 ekors.But after the liberation war in 1971 which witness the birth of Bangladesh many non-bengali pakistani went out from Bangladesh and S.M.Nur was one of them.For that in 1972 Nabisco was undertaken by ‘Khaddo and Shilpo’ sector.But in 1983 for better function former president Hossain Mohammad Ershad given Nabisco under private sector.Then a private company named ‘Bhaia Group’ was overtaken Nabisco for future functions.At present one of the brothers from ‘Bhaia Group’ Momen Ali is the managing director of Nabisco. Nabisco is one of the oldest and famous biscuit company in Bangladesh.It has no branches other than the factory at dhaka in Bangladesh.The Nabisco company in Bangladesh is so iconic that the particular place where Nabisco factory is situated is called ‘Nabisco Mor’ for the identification of that area. Products At the beginning Nabisco only produced various kinds of Biscuit and after making a solid place in market then they introduce various flavoured Chocolates to the customer...
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...Experiment……………………………………………………………..6-7 Hypothesis, Observation Results and Conclusion……………………………..9-10 As i continue my research in this class I would like to give an example what Avian Ecology is before I start to elaborate on my research. Avian Ecology is a classic study to see if birds segregate themselves by habitat and food. Although there are many field methods available for conducting avian ecological research; bird counts are a good way to estimate population size, detect changes in population size or species diversity, and determine the cause of the changes in environmental or habitat and plenty of data and research is collected. I will also analyze what type of environment theses birds like to be in and how do they function in certain areas as well as the type of food these birds like and dislike. I will be collecting my data and research in Bay St Louis, MS. This area has a lot of birds and a great place for doing research on the studies of birds. Since this time our research has to be in an area in Mississippi instead of being in our own back yards I had go to my dad’s home to observe these different types of birds and to watch their activities. The different types of birds that I have observed are the northern mocking bird, blue jay, a house wren, mourning doves, red bellied wood pecker and a few others just to name a few. As I was starting on my...
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...The Application of the Profit Function in a Business’s Growth Differential Calculus May 24, 2014 The application of calculus in a business is extremely important since calculus is considered as the study of changes. Its complexity in the study of changes has become one of the humankind’s greatest tool for analyzing changes in the marketplace. The profit function was created with the main purpose for businesses to understand how the changes in revenues and in costs would generate a profit or not profit at all. A profit can be generated when the amount of revenues is higher than the amount of costs. When a business starts, is normal to not gain any profit at all, in fact, most of the time, a business tends to lose money in its first year. However with that information, a business can analyze the money loss of that year and determine any gaps or holes that prevents the maximization of the profit and have a more prosperous result for the following year. For instance, if a company suffer a loss in profit, they can analyze the profit function to determine the main reason of why there was not a positive profit. If they see that the problem of the profit function was a low revenue then they can regulate the sale of products or services and price control, or if the problem lies in the cost function, they can adjust or lower the costs and expenses made by the business. The graph of a profit function can show at what time of the year the company tends to...
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...The Role and Functions of Business Law Tanisha Haynes LAW/421 July 18, 2013 Ms. Lindsey Cole The Role and Functions of Business Law When people hear the word law, one will think of the laws in which people have to abide by on a daily basis. There are several different variations to the laws; there are states laws. Each state has their own rules for their citizens to follow. Then there is the Federal law, which governs the government. According to Melvin, “the term law is defined as a body of rules of actions or conduct prescribed by controlling authority, and having legal binding force” (Melvin, 2011). Laws, established to keep order within a small area like a neighborhood or driving down the street in a vehicle. The laws are here to protect the innocent and charge the guilty. The laws play a big part in people everyday lives. When driving down a busy highway, people are following the rules of the road, which are laws set to guide the drivers safety. In the business world, laws work the same way. A few examples of different laws are common law, statutory law, administrative law and constitutional law. While working for the United States Postal Service (USPS), Tanisha had and on the job injury while running letter mail on a sorter. She mashed her thumb inside the door of the machine. She knew that if she reported the accident, she would have to file paperwork and go to the urgent care and she did not want to go through the hassle. As time went on, she noticed...
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...As with any other business, an organized collection of relevant data is a critical element to a firm’s success. No matter what form of business one is involved in - whether it be a sole proprietorship, partnership, or corporation - having at least one quality database is a must if he or she expects favourable results. With effective and efficient databases, companies are able to deliver great service or produce the required units of merchandise on a timely manner. It is an established fact that running a business is no easy feat. This is especially true for a relatively new one, which is still struggling to make a name for itself while trying to generate more capital for its operations. Because of the sheer number of challenges an emerging proprietor faces, he or she needs as much help as he/she can have when it comes to managing his/her business. Databases provide great help for this very problem. Listed below are the several purposes databases generally try to serve to a typical business: * It helps organize important information – information is a key factor to any business, and having systematically arranged records help the user know what needs to be done, how it must be done, and who it is being done for. * It helps save time – with a database, instead of spending precious time going through piles of papers just to search for the necessary information, the user is just a query away from retrieving what is needed. * It aids the communication among employees...
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...Functions and Roles of Law in Business and Society xxxxxxx LAW/421 xxxxxxx Functions and roles of law in business and society The governance of business through state and federal laws is a very complex system. Many laws, statutes, and regulations are in place to protect the consumer and the business. These laws stem from city ordinances in local municipalities to Congress’s broad commerce powers that have the final say. Each of these laws and regulations have specific roles and are designed to function in certain ways. Roles The regulation of interstate commerce is governed by Congress’s Commerce Clause. This clause is designed to give the unrivaled power to Congress to have the supreme rule over interstate commerce. “Congress exercises its commerce powers in various forms. However, the direct and broad power to regulate all persons and products related to the flow of interstate commerce is the fundamental source of its authority” (Melvin, 2011, p. 32). Functions In the case of Cipollone v. Liggett Group, Inc., where Cipollone is pursuing suit against Ligget for restitution in the death of his mother due to violations of New Jersey consumer laws. However, Congress utilized the Supremacy Clause and ruled against Cipollone because federal law contradicted the consumer protection put in place by New Jersey. This is a great example of the function of Congress’s broad power to step in when necessary, provided there is legal ground for their action. If...
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...The Functions and Role of Law in Business and Society Henry David Thoreau once said, “If the machine of government is of such a nature that it requires you to be the agent of injustice to another, then, I say, break the law.” (Henry David Thoreau, n.d.) Mr. Thoreau was perceptive in that he knew in government, sometimes a person may have to do something that is not favorable in the eyes of the majority, but the right thing to do for a minority group of people. In the proceeding pages, I will attempt to define the functions and role of law in business and society. I will discuss the functions and role of law as it pertains to a previous job. The Functions and Role of Law in Business and Society Cipollone brought suit against Liggett for violation of several New Jersey consumer protection statutes alleging that Liggett (and other cigarette manufacturers) were liable for his mother’s death because they engaged in a course of conduct including false advertising, fraudulently misrepresenting the hazards of smoking, and conspiracy to deprive the public of medical and scientific information about smoking. Liggett urged the court to dismiss the state law claims contending that the claims related to the manufacturer’s advertising and promotional activities were preempted by two federal laws: (1) the Federal Cigarette Labeling and Advertising Act of 1965, and (2) the Public Health Cigarette Smoking Act of 1969. (Melvin, p. 33, 2011) It can be said that Liggett...
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