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Business Areas

In: Business and Management

Submitted By anarchy9
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As it is known, every beginning is difficult. So it is in business world too. By starting up a new business you are called to face a few challenges that affect your business. Our business, Eastern Foods, is going to analyse some of them. We are going to discuss about Human Resources (HRM), Accounting, Marketing and Operations Management.

Human Resources Management: Human Resources is an important function, no matter how small the business is, especially for the employees. It is the area which ensures that the employees are working the right hours, they are getting the benefits they deserve so they can expel the stress that they may get and be happier and more productive. It is also responsible for payroll, benefits, hiring, firing, communication and keeping up to date with state and federal tax laws. Moreover, it helps managers to recruit, select, train and develop members for an organization.

Accounting: Accounting is used to collect, classify, and manipulate financial data for the organization and keeps the financial stability. It is responsible for determining an organization’s overall wealth, profitability, and liquidity. Without accounting, organizations would have no basis or foundation upon which daily and long-term decisions could be made. The budgets for marketing activities, profit reinvestment, research and development, and company growth are based on that area.

Marketing: Marketing is also an important piece of the business puzzle. It has to do with matters of promoting and selling the products. Basic staffs are the name, logo and advertisement, so it provides a good relationship between business and costumers. With a good promotion the business is more likely to have success and profit. Marketing research, pricing research and public relations are used in order to achieve that goal.

Operations: This area has to do with the designs, quality...

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