In the short article below you will come by brief descriptions of the sorts of departments you will come across in any usual firm and the roles people perform in these departments.
One of the primary purposes of any firm is to make a revenue by selling a specific kind of service or good. To ensure that customers keep on buying this service or good a company has to constantly keep track of new advancements and innovate the products that they provide. Research and development department, or R&D for short, like the Ikea R&D for instance, is the department in a company hierarchy structure that is concerned about innovation and introduction of brand new products. Companies in all sectors and all industries undergo R&D activities, as it's so significant to keep pace with consumer demand for new products. However, if it's a small business, R&D activity is usually outsourced to businesses that specialise in this, but bigger ones will have a dedicated in-house team. R&D is one of the primary components when it comes to the growth of a business, as it presents improvements and new breakthroughs to products and services which helps them earn a much better profit, and as a result allows the company expand in size and stay on very top of its competition.
So many people will classify accounting as one of the less interesting components of a business's daily activities; nevertheless, accounting takes one of the most significant spaces in a company structure. Because accounting is not directly involved in producing a product, it's normally grouped with the administrative departments in a company. The accounting department, like the UAW accounting department for example, offer financial support to the firm it belongs to and deals with a whole number of tasks associated with finances. This departments makes records of accounts payable and receivable, inventory, fixed assets, payroll amongst many other financial factors. Accountants need to review the records of every other department in the company in an effort to figure out the company’s financial position to make a decision whether any changes to how the company is run must be made to make it more cost-efficient.
When we look at all the various departments in a company hierarchy, the board of directors will be found at the very top of that hierarchy. The board of directors, like the Telecom Italia board, performs a really important job that is distinct from every other employee in the business. Typically, the board of directors is made of people who have a strong interest in how the firm is run. Members of the board vote and examine significant challenges that are likely to impact the future of the company, like its long term goals, any modifications in the strategy, and employing of any members of the upper management for instance.